

Why Elon Musk Was Left Out Of The Environmental List | PART 1 | PBD Podcast | Ep. 226
Jan 14, 2023
Vivek Ramaswamy, author of "Woke, Inc." and CEO of Strive Asset Management, joins the discussion about the implications of ESG investing. He critiques ESG's role in society and challenges its definitions of positive change. The conversation dives into Elon Musk's exit from an environmental list and examines Klaus Schwab's global influence. Ramaswamy also highlights the complexity Americans face in navigating these investment strategies while advocating for greater transparency and individual choice in financial decisions.
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The Origin of ESG
- ESG began after the 2008 financial crisis, stemming from a left-wing backlash against bank bailouts.
- Wall Street formed a mutually beneficial relationship with the progressive left, using ESG as a way to appease and control the narrative.
DI Score Over Investment
- Patrick Bet-David recounts an experience selling his insurance company where buyers prioritized Diversity, Inclusion and Equality (DI) scores over the actual investment.
- This highlights how ESG metrics can overshadow core business values.
ESG vs. SRI
- Socially responsible investing (SRI) mainly involved divestment from certain sectors, but ESG goes further.
- ESG focuses on influencing companies through shareholder voting and boardroom advocacy, changing company behavior from within.