Stupid Squared
Thousands of listed companies are being told to get woke, or else. Nasdaq is yet another player in an ever growing list to cave to the new religion
Capital Thinking • Issue #754 • View online
Last week, thousands of listed companies were told to get woke… or else.
One More Reason To Go East
Chris MacIntosh | Capitalist Exploits:
Nasdaq (Nasdaq: NDAQ) today filed a proposal with the U.S. Securities and Exchange Commission (SEC) to adopt new listing rules related to board diversity and disclosure. If approved by the SEC, the new listing rules would require all companies listed on Nasdaq’s U.S. exchange to publicly disclose consistent, transparent diversity statistics regarding their board of directors. Additionally, the rules would require most Nasdaq-listed companies to have, or explain why they do not have, at least two diverse directors, including one who self-identifies as female and one who self-identifies as either an underrepresented minority1 or LGBTQ+. Foreign companies and smaller reporting companies would have additional flexibility in satisfying this requirement with two female directors.
There used to be a time when running a company meant answering to the owners of the company, namely the shareholders.
This was true whether the company was Bill and Betty’s diner owned by… well, Bill and Betty. And it was also true of listed companies with thousands of employees.
But allowing individuals’ the ability to choose what to do with their time, skills, and money amounts to freedom, and the socialists hate freedom. So here we are in a world where we’re not only told what to think, but forced to accept every new policy, no matter how absurd and destructive.
Nasdaq is simply yet another organisation in an ever growing list of Western corporates to cave to the new religion.
I had to look up who runs Nasdaq at the moment, and I must say I was very surprised to see that this is who runs the show.
I was surprised because frankly, judging by this absurd new regulation her firm is implementing, I fully expected to find someone whose eyes are too close together because bright, she clearly is not.
Confusing?
Let me step in and clear it up for you.
What is brewing behind the scenes is a simmering tension between normal people and raving lunatics. But because the lunatics are wildly intolerant, employing every tactic possible in their handbook — from cancel culture, to legislating — they are winning.
Not only are they winning, they’re racking up points faster than normal people can keep count, which is why normal people are in a state of shock, still trying desperately to negotiate, discuss, and understand WTF is going on.
Normal people are reassuring themselves this will all pass, wishing for simpler times when these do-gooders sat in their day jobs, pretending to be useful while watching videos of drunk Russians or Asians falling off of motorbikes, which would render them merely useless but importantly not destructive.
Sadly, this will not pass, and entertaining the idea it will simply exposes one to greater risk.
If we are to be honest, we know this. Power, once obtained, is not something easily and willingly relinquished and the cultural Marxists most certainly won’t be relinquishing the immense power they now have without a fight.
Chris MacIntosh