The Reality of Business in the United States

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Most publicly traded large businesses in the United States aren't really comprised of one actor, he says. BlackRock, State Street and Vanguard that aren't actually investing their own money are using it to vote for racial equity audits or environmental constraints which do not advance their best financial interests," Schiff writes. Most of the money they're managing comes from government actors like state pension funds such as California or New York.

The entrepreneur is running a longshot campaign for the GOP nomination on an “American nationalist,” anti-“woke capitalism” platform. Semafor’s Dave Weigel explains why so many Republicans now think they have a chance at the crown.

This episode was produced by Miles Bryan, edited by Matt Collette, fact-checked by Laura Bullard, engineered by Patrick Boyd, and hosted by Noel King.

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