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It’s difficult to point to anything positive in the wake of wokeness, except that it might be awakening a number of sleeping giants.
Entrepreneur, political commentator and executive chairman of the biopharmaceutical company Roivant Sciences, Vivek Ramaswamy, said the Walt Disney Company is acting at the behest of its biggest investors as it relates to the company’s newfound leftism.
The New York Times bestselling author of “Woke, Inc.” said those massive cash cows are “whispering” in the ear of executives at Disney and cultivating opposition to the controversial but highly-misunderstood Parental Rights in Education law recently enacted in Florida.
In his 2011 book, “Woke Inc.: Inside Corporate America’s Social Justice Scam,” Ramaswamy seeks to discourage companies from entering into politics as a matter of business, and as an example, he says Disney is heavily influenced by “money managers” who now call the shots for the once-beloved entertainment colossus.
Disney CEO Bob Chapek appeared to bend the knee to a small group of radical employees, but the real problem runs deeper: his top 3 “shareholders.”
They represent a $20 trillion cartel that pushes companies to advance political agendas. And they’re using your money to do it. pic.twitter.com/sXLDR9Bu5Y
— Vivek Ramaswamy (@VivekGRamaswamy) April 4, 2022
Disney’s main target has been the erroneously-dubbed “Don’t Say Gay” bill, which Democrats from the Biden regime on down and through legacy media stubbornly and stupidly cling to as a talking point. Under pressure from its financial overlords, Disney felt it had to make its position on the matter known.
“Florida’s HB 1557, also known as the ‘Don’t Say Gay’ bill, should never have passed and should never have been signed into law. Our goal as a company is for this law to be repealed by the legislature or struck down in the courts,” an unnamed spokesperson wrote on Twitter.
Statement from The Walt Disney Company on signing of Florida legislation: pic.twitter.com/UVI7Ko3aKS
— Walt Disney Company (@WaltDisneyCo) March 28, 2022
Ramaswamy believes Disney CEO Bob Chapek was compelled to make a statement against the new law by something more insidious than just a few disgruntled employees.
“There’s a quieter undercurrent here, too,” Ramaswamy told Fox News, noting that Disney’s three largest shareholders are BlackRock , Vanguard Group, and State Street. Those firms are three of the largest asset managing houses in the U.S.
“Actually, if you’re a CEO in a public company today, you find yourself sandwiched not just between your progressive, woke employees. … It’s that when you look at your alleged bosses, the ‘shareholders,’ they’re actually quietly whispering in your ear that they want to see you doing the same things too,” he said. “So it runs far deeper, and it’s far more complicated.”
Recent trends on Wall Street have shown that companies are now more inclined to defer to “stakeholder” interests than they are to shareholder interests. That is to say, power-hungry entities with political agendas as opposed to private individuals who invest in the company through stock purchases.
For his part, founder and CEO of BlackRock, Larry Fink, rejected accusations his company has gone “woke” and defended its regular dealings with China while claiming to invest heavily in climate change solutions.
“Stakeholder capitalism is not about politics. It is not a social or ideological agenda. It is not ‘woke.’ It is capitalism, driven by mutually beneficial relationships between you and the employees, customers, suppliers, and communities your company relies on to prosper,” Fink said in a letter to CEOs last year, according to the Washington Examiner. “This is the power of capitalism.”
In fact, in 20201, Fink’s investment firm began offering mutual funds and investment products to Chinese investors, becoming the first non-Chinese entity the communist party there has allowed to do so.
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