Follow-up to this post
Organizations and individual investors give money to "asset management" companies to invest it for them. Those companies have a fiduciary duty to invest the funds in excellent businesses that will give a good return to the clients.
But Vivek Ramaswamy was surprised to find out that many of those companies (BlackRock is the world's largest) don't necessarily strive to maximize value. Instead, they invest their clients' money in businesses that support certain political values: environmental, social, governance (ESG). This way they exercise a lot of power on behalf of those politics.
He thinks this is unfair to shareholders and clients, especially since it may be a hidden agenda - hidden because many clients wouldn't like it and would take their funds elsewhere. So he started a new asset management company which is up front about its priority to take care of people's investments. It's called Strive.
Vivek has a number of videos on YouTube; here is one of them:
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