In a recent interview with the Financial Times, legendary investor Warren Buffet criticized businesses for imposing their own political framework on the rest of society. At first glance, this may come as a surprise: Buffet is himself a politically active liberal. But even he can see that “woke capitalism” has gone too far.
As an investor, he’s been consistent in supporting businesses that put shareholders first. The shareholders, after all, are the owners.
Carbon neutrality, LGBTQ activism, sustainability and other forms of virtue signaling are just corporate perks—the private jets of a business class that craves social validation … validation not for being rich, but for being woke.
Such indulgences might win them points in their social set and with elite media, but not with their owners.
If they want to do it, they should at least do it on their own dime.Read More »