There’s been a rising chorus of criticism
of capitalism.
Right?
That’s come from Elizabeth Warren and Bernie
Sanders in the political sphere, people like
them, AOC.
It’s also come from the Occupy movement
and various other forms of outside pressure.
Within the citadels of capitalism—the banks,
the business schools, the big corporations—there
have been a couple responses.
Some responses are like, you know, “Buzz
off.”
But there have been a kind of—there’s
been a kind of woke capitalism movement within
these citadels, saying, “You know what?
You critics have something of a point.
Right?
Something of a point.
And what we’re going to do is, we’re going
to respond by evolving a kind of new capitalism
within.
We’re going to do social enterprises.
We’re going to do impact investing.
We’re going to double bottom line.”
Impact investing is one of these many modalities,
and it basically says, instead of investing
in ways that destroy communities—which,
by the way, why is that legal to begin with?—we’re
going to invest in ways that make us money
but also benefit communities.
Right?
So this is a widespread movement.
There’s a lot of capital moving in this
impact way, but it’s generally a fringy
thing.
Bill McGlashan was the leader of perhaps the
biggest impact investing fund in the world—$2
billion fund.
Real money.
And if you want to legitimate this kind of
plutocratic do-gooding, you’ve got to get
Bono involved.
Right?
So he and Bono signed on together, like, you
know, bros, to do this fund.
