Ever wondered why “go woke go broke” never succeeded? Why seemingly companies have been introducing toxic cultures and destroying their productivity and products? Was it to target leftist consumers? That makes no sense as they are alienating a large portion of the market in favor of a small portion. It doesn’t make sense until you meet Larry Fink. Now you see Larry has been a very busy boy over the last decade or two and created the largest Hedge fund in existence, Blackrock. Our story starts in 2007/06 during the housing bubble crash, The FED is freaking out not knowing how to manage the situation. It looks extremely likely the entire system will implode and they do not have the tools to stop it.
Enter Larry Fink. Larry boy here offered to help. He was running a $7 trillion dollar hedge fund. So he created Maidan Lane. A vehicle where all of the defunct wall street giants assets will be placed and managed by the FED officially, but in reality it was Larry who was the one who managed them. Fast forward to the 2020 crash. The FED is panicking again because the corporate bond market was ready to collapse as investors no longer wanted the zombie corps debt. This meant corporations would no longer be able to fund themselves except by issuing more stock which would further devalue equities and create a death spiral. So who has come in to be savior once more, Larry Fink. The FED told Larry to buy worthless bonds and they in turn will buy his ETF to subsidize him. This in turn means BlackRock is now having freshly printed bills buy his ETF. Black Rock is now part of the financial system to the point where Bloomberg even called them the fourth branch of government.
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Now what does this have to do with wokeism? You see Larry recently has become obsessed with something called ESG investing. ESG investing stands for environmental social and corporate governance investing. In short, Larry Fink’s investment philosophy is to reward companies that follow certain rules with investment dollars. These rules could be the CEO not taking any salary or how much diversity and inclusion there is. So he now throws his 12 trillion dollars around to the ones with the highest ESG scores which in turn is a proxy woke score.
Why can’t companies get investment dollars from elsewhere? Because Blackrocks Aladdin Services is used by practically every major investment institution and fund. Most of these institutions and funds use the ESG ranking even if they don’t believe in it. They don’t want to draw the ire of the fourth branch of government. This has led to every Corporation having to increase their wokeness to get any investment dollars otherwise their ESG score will be too low and they will be effectively blocked out from the market. So there you go now you know why wokeism is being pushed. All because Mr. Fink has a hard-on for wokeness and everyone doesn’t dare cross him.
