{"id":1471050,"date":"2022-05-11T08:01:35","date_gmt":"2022-05-11T12:01:35","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1471050"},"modified":"2022-05-11T08:01:39","modified_gmt":"2022-05-11T12:01:39","slug":"entrepreneur-who-launched-anti-woke-asset-management-fund-reports-flood-of-job-applicants-2","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/entrepreneur-who-launched-anti-woke-asset-management-fund-reports-flood-of-job-applicants-2\/","title":{"rendered":"Entrepreneur Who Launched Anti-Woke Asset Management Fund Reports \u2018Flood Of Job Applicants\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fentrepreneur-who-launched-anti-woke-asset-management-fund-reports-flood-of-job-applicants-2%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1471050&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/dw-wp-production.imgix.net\/2022\/04\/F0B243B8-57A3-4E8F-9066-5C32F2F1AB6E.jpeg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p><span>Entrepreneur Vivek Ramaswamy, who launched a new fund to take on woke corporations, reveled in a \u201cflood of job applicants\u201d from competing asset managers on Tuesday afternoon.<\/span><\/p>\n<p><span>Ramaswamy \u2014 a former pharmaceutical CEO who left his company over frustration with corporate wokeness \u2014 recently <\/span><a href=\"https:\/\/www.dailywire.com\/news\/americans-want-companies-to-stay-out-of-politics-ceo-launches-fund-to-take-on-woke-asset-managers\"><span>launched<\/span><\/a><span> Strive, an asset management firm based in Ohio that will invest in companies with an \u201cexcellence capitalism\u201d approach. Instead of pushing \u201cstakeholder capitalism\u201d and other progressive viewpoints on firms in its portfolio, Strive will encourage firms to pursue maximizing profits for shareholders.<\/span><\/p>\n<p><span>On Twitter, Ramaswamy said that \u201cimpressive\u201d applicants are already soliciting his company.<\/span><\/p>\n<p><span>\u201cReally enjoying the flood of job applicants\u2026 including from BlackRock, State Street, and Vanguard who say they are \u2018fed up\u2019 with the nonsense,\u201d Ramaswamy tweeted. \u201cImpressive backgrounds too, I\u2019ll give our competitors some credit there.\u201d<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Really enjoying the flood of job applicants\u2026including from BlackRock, State Street, and Vanguard who say they are \u201cfed up\u201d with the nonsense.<\/p>\n<p>Impressive backgrounds too, I\u2019ll give our competitors some credit there.<\/p>\n<p>\u2014 Vivek Ramaswamy (@VivekGRamaswamy) <a href=\"https:\/\/twitter.com\/VivekGRamaswamy\/status\/1524082050432741376?ref_src=twsrc%5Etfw\">May 10, 2022<\/a><\/p>\n<\/blockquote>\n<p><span>In multiple media hits, Ramaswamy argued that ESG \u2014 the progressive investment philosophy that emphasizes \u201csocial responsibility\u201d in addition to profits \u2014 has no track record of success. \u201cThere\u2019s no evidence that ESG outperforms, despite the claims made by some of the world\u2019s largest asset managers and their CEOs,\u201d he said in an interview with CNBC.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">There\u2019s no evidence that ESG \u201coutperforms.\u201d<\/p>\n<p>Companies like Exxon would be better off today if they were drilling more oil than before BlackRock &#038; Engine No. 1 told them to go in a different direction.<\/p>\n<p>And America would be closer to energy independence too. <a href=\"https:\/\/t.co\/ThlgWcidux\">pic.twitter.com\/ThlgWcidux<\/a><\/p>\n<p>\u2014 Vivek Ramaswamy (@VivekGRamaswamy) <a href=\"https:\/\/twitter.com\/VivekGRamaswamy\/status\/1524188070475673603?ref_src=twsrc%5Etfw\">May 11, 2022<\/a><\/p>\n<\/blockquote>\n<p><span>In an interview with <\/span><a href=\"https:\/\/www.wsj.com\/articles\/upstart-money-manager-gets-billionaires-to-back-the-anti-blackrock-11652134919?mod=mhp\"><span>The Wall Street Journal<\/span><\/a><span>, Ramaswamy said, \u201cWe will tell oil companies to be excellent oil companies and coal companies to be excellent coal companies and solar companies to be excellent solar companies.\u201d<\/span><\/p>\n<p><span>Ramaswamy said that he has thus far gained $20 million in financial backing. The Journal reported that PayPal co-founder Peter Thiel and Pershing Square Capital Management CEO Bill Ackman are among the financiers.<\/span><\/p>\n<p><span>\u201cA majority of Americans want companies to stay out of politics,\u201d Ramaswamy remarked. \u201cThey want to have a separate space for where they shop, where they work, and where they invest from the places where they cast their ballots or engage in their political debates.\u201d<\/span><\/p>\n<p><span>Three institutional asset managers \u2014 BlackRock, State Street, and Vanguard \u2014 hold, on average, a 20% stake in every Fortune 500 company. Collectively, the three firms handle over $21 trillion in assets.<\/span><\/p>\n<p><span>Rather than operating under the model of shareholder capitalism \u2014 which centers upon corporations maximizing returns for investors \u2014 <\/span><a href=\"https:\/\/www.dailywire.com\/news\/how-three-investment-firms-are-turning-companies-like-disney-woke-and-what-you-can-do-to-fight-back\"><span>stakeholder capitalism<\/span><\/a><span> claims that everyone in the \u201ccommunity\u201d has a say in how a company\u2019s activities impact any number of issues \u2014 from climate change to minority board seats. The approach argues that for the sake of a greater social good, corporations must be involved in political and social causes that may have nothing to do with their businesses \u2014 whether it benefits their shareholders or not.\u00a0<\/span><\/p>\n<p><span>Ramaswamy \u2014 the former CEO of biopharmaceutical company Roivant Sciences and author of \u201cWoke, Inc: Inside Corporate America\u2019s Social Justice Scam\u201d \u2014 <\/span><a href=\"https:\/\/www.dailywire.com\/news\/the-losers-of-this-game-are-the-american-people-young-medical-entrepreneur-is-defecting-from-leftist-corporate-america\"><span>explained<\/span><\/a><span> in an op-ed last year that both liberals and conservatives are duped by large firms\u2019 tactics.\u00a0<\/span><\/p>\n<p><span>\u201cThis new woke-industrial Leviathan gains its power by dividing us as a people. When corporations tell us what social values we\u2019re supposed to adopt, they take America as a whole and divide us into tribes,\u201d Ramaswamy wrote. \u201cThat makes it easier for them to make a buck, but it also coaxes us into adopting new identities based on skin-deep characteristics and flimsy social causes that supplant our deeper shared identity as Americans.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Entrepreneur Vivek Ramaswamy, who launched a new fund to take on woke corporations, reveled in a \u201cflood of job applicants\u201d from competing asset managers on Tuesday afternoon.Ramaswamy \u2014 a former<\/p>\n","protected":false},"author":99,"featured_media":1482399,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1471050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1471050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1471050"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1471050\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1482399"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1471050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1471050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1471050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}