Cowardly boardrooms wilted at the first disparaging tweet sent their way by angry activist groups, not realizing by giving in to them, they ceded their corporate agenda to progressives.
I have a dissenting view. The fiduciary risks were obvious before DEI/ESG was ever rolled out. "Get Woke, Go Broke" is a red herring.
The Stakeholder Capitalist policy makers don't care about the profit as much as the control, once they have their monopolies.
I based this on watching holding companies constantly purchase viable, healthy businesses only to gut them, out-source and off-shore them, as the chosen tax dump for that year to benefit their other companies.
And its cyclical and repetitive. At one Fortune 500 company, an industry leader, I went through 3 different cycles of this.
I have a dissenting view. The fiduciary risks were obvious before DEI/ESG was ever rolled out. "Get Woke, Go Broke" is a red herring.
The Stakeholder Capitalist policy makers don't care about the profit as much as the control, once they have their monopolies.
I based this on watching holding companies constantly purchase viable, healthy businesses only to gut them, out-source and off-shore them, as the chosen tax dump for that year to benefit their other companies.
And its cyclical and repetitive. At one Fortune 500 company, an industry leader, I went through 3 different cycles of this.
https://substack.com/@shanghaimoon/note/c-41999893?r=1lcdri