Wednesday, April 14, 2021

Completely unpredictable events

"Corporations of the World, Unite!" (Edsall) (title is now changed to an inferior one).

"Big Corporations Now Deploying Woke Ideology The Way Intelligence Agencies Do: As A Disguise" (Greenwald).  The virtue-signaling, gaywashing kinds of activities Greenwald discusses are cheap or free, are arguably an attempt to increase market share amongst certain groups while losing few normies, and can be distinguished from boycotting a whole state over its voting laws - though MLB isn't really subject to the same rules as long as the owners are on board - or insulting its main customers in advertising, for example.

It appears likely that wokenness is cutting into profits, at least in some cases.  Recent corporate actions seem to defy the first law of modern corporate governance, that directors and officers have one sole duty, which is to maximize corporate profits.  Breaching that duty is actionable, and the shareholders can sue to get back their 'stolen' profits.  So none of this makes any sense.

There's a whole new category of completely unpredictable events.

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