Ben Shapiro And Entrepreneur Vivek Ramaswamy Discuss Why Woke Investors Are ‘Putting The Toothpaste Back In The Tube’ | Eastern North Carolina Now | Daily Wire Editor Emeritus Ben Shapiro and entrepreneur Vivek Ramaswamy discussed how large asset managers are seeking to roll back their woke investing schemes as politically agnostic investors balk at their lackluster results.

Coronavirus Disease 2019 (COVID-19)
    Publisher's Note: This post appears here courtesy of the The Daily Wire. The author of this post is Ben Zeisloft.

    Daily Wire Editor Emeritus Ben Shapiro and entrepreneur Vivek Ramaswamy discussed how large asset managers are seeking to roll back their woke investing schemes as politically agnostic investors balk at their lackluster results.

    Earlier this year, Ramaswamy - a bestselling author and former pharmaceutical CEO - launched an asset management firm called Strive to compete with institutional investors that compel portfolio companies to embrace the environmental, social, and governance (ESG) movement, by which they must adopt objectives that mingle left-wing politics with profitability. In a new episode of "The Search," Ramaswamy explained to Shapiro that clients without social agendas are now objecting to large managers' politicized use of their capital.

    A few years ago, according to Ramaswamy, "what happened was all of the other clients who had their head in the sand as this was happening just got dragged along for the ride."

    "These guys over here ... they want me to advance these social, cultural, and political agendas. And then there's these guys over here, call them red and purple states ... that aren't saying anything," Ramaswamy said about large asset managers' investment calculus. "I'm going to do what they say as long as I can continue managing money for everybody."

    "When you're all things to all people, and some are more active than others, then just please the activists," Shapiro summarized. "Exactly," Ramaswamy replied.

    Indeed, there exists a considerable number of investors who believe it is a "good thing" for companies to leverage their financial power for political or social means supported by executives, according to an exclusive poll from The Daily Wire released earlier this year. However, 58% said that executives seeking their own political agendas is a "bad thing."

    "What's happened much more recently is that the guys over here have said, 'No, actually, we really only want you to look after our financial interests and nothing else.' So then they find themselves in a bit of a pickle," Ramaswamy continued.

    While the pension funds of states like California and New York request certain political and social stipulations of their asset managers, officials from conservative states are now sounding the alarm over woke investing and the risk it poses to their citizens' way of life. Most recently, the state government of Texas cut ties with BlackRock, UBS, and other firms that are hostile toward the oil industry "without an ordinary business purpose."

    Ramaswamy and Shapiro noted that the rapid shift toward woke investing began after the election of President Donald Trump. Among other actions, the former commander-in-chief pulled the United States out of the Paris Climate Agreement - an international treaty that calls for a 50% reduction in emissions by 2030. Ramaswamy said that asset managers believe, "If government is not going to step up and do its job, then leaders of institutions must work together to address these shared global challenges."

    "What does that mean? It means a certain guy got elected who we didn't like," Ramaswamy added.

    Woke investing, however, lost a high degree of credibility following recent stock market turmoil. While many asset management firms invested heavily in technology companies - which are known for bankrolling social justice initiatives in reaction to national events like the death of George Floyd or the overturning of Roe v. Wade - they were among the first to lay off large segments of their staff. Meanwhile, oil and gas companies - from which many leading investment institutions have been divesting - are enjoying record profits.

Inarguably, the policies of the Democrats in congress and Joe Biden as the Executive is plunging the United States into a recession, if we are not already there; a recession that was completely avoidable. Will abrupt changes in policies occur in time?
  Yes, the Democrats have a bold plan, yet to be revealed, to save us.
  No, there will have to be a complete undoing of the damage done by these Democrats.
  I can't do simple math, so how am I to understand the concept of basic economics.
1,181 total vote(s)     What's your Opinion?

Go Back


Latest Op-Ed & Politics

Elon Musk is the chief executive of Tesla and SpaceX, as well as the leader of several smaller pet projects, such as Neuralink and The Boring Company. Following his acquisition of Twitter, one of the world’s largest social media platforms, the multibillionaire gave the world a view into just how bus
As part of a new pledge to "quiet down" the company's aggressive push for progressive themes in its content, returning Disney CEO Bob Iger has revealed the entertainment giant will cut back to including only seven LGTB characters in each children's movie.
The case of defunct cryptocurrency exchange FTX and now-broke multibillionaire founder Sam Bankman-Fried is among the most intriguing stories of alleged financial crime in decades, rivaling the heists executed by financier Bernie Madoff and startup darling Elizabeth Holmes.
Third-quarter finance reports dropped Tuesday, November 2nd, and with them came insight into one of North Carolina’s biggest questions for election day, will Republicans regain supermajorities in the state legislature?
Bill Maher, host of HBO’s “Real Time with Bill Maher,” defended Florida Governor Ron DeSantis (R) against attacks he has faced from media and a Democrat politician who criticized DeSantis on the show’s most recent broadcast.
Amid a storm of controversy over recent antisemitic comments and remarks praising Hitler, Ye West has announced the release of his brand-new album My Struggle.


A number of entertainment conglomerates and media companies are announcing layoffs as the macroeconomy continues to impact several industries.
The White House geared up for the Thanksgiving holiday by sharing a list of talking points for people to reference if the happened to find themselves talking to “that uncle” during a family gathering.
Country music legend Dolly Parton has received a $100 million award from Amazon founder Jeff Bezos.
Over the past few weeks, Ben Shapiro has created video responses to Kanye "Ye" West's anti-semitic statements, causing West to direct tweets at the conservative commentator.
A Pennsylvania man was sentenced to over 17 years in prison followed by a lifetime of supervised release for his involvement in a plot to bomb a Pittsburgh church.


Netflix is planning to try out live programming in early 2023 with a new stand-up comedy special from comedian Chris Rock.


Back to Top