(Natural News) As a lifeline to all the startup companies that fell victim to the collapse of Silicon Valley Bank (SVB), a number of deep-pocketed nonprofit groups, several of them major foundations, are dangling “free” cash infusions in front of them as aid. The only catch is that said startups must first bow down to the gods of diversity and ESG (environmental, social, and governance) wokeism (in the event that they have not done so already).
People familiar with the matter told Semafor that converting to the religion of anti-whiteism is a must in order to be eligible for a nonprofit cash infusion. Unless they embrace all the demanded tenets of corporate leftism, these startups will be left to face the government and the Federal Reserve, which truth be told have already promised to bail these companies out anyway.
Even though the vast majority of deposits held at SVB were above the $250,000 insurance threshold set by the Federal Deposit Insurance Corporation (FDIC), the powers that be have decided that these depositors are too big to fail. And if that ends up not being enough, then the startups can go the ‘diversity and ESG route’ as a failsafe.
“The government’s move on Sunday to protect all uninsured deposits made those funds unnecessary,” explains Reed Albergotti, writing for Semafor.
“But the proposal reflects the growing, opportunistic demands of venture capital investors, like university endowments and nonprofits, which have been sending questionnaires to VCs (venture capitalists) they back about diversity numbers, greenhouse gas emissions, and other governance issues.”
(Related: Have we entered the final stage of the controlled demolition of the American economy with all these cascading bank failures?)
The capital markets are controlled by globalist bullies pushing an anti-white agenda
In recent months, including before the sudden collapse of SVB, diversity and environmental data requests from pension funds and other institutional investors have really ramped up in the capital markets. Companies are essentially being bribed into embracing the cult of diversity and ESG in order to survive.
Without the diversity and ESG mark of the beast, so to speak, companies risk running out of capital. Therefore, many of them comply out of compulsion in the sink or swim environment of corrupt markets controlled by globalist bullies.
“The questionnaires often come in response to a fundraising round by a venture capital firm,” Albergotti writes about how the process works. “They are often detailed, like how many people in the company suffer from chronic illnesses or how many identify as transgender.”
“Some VC firms described the requests as onerous, partly because it’s understood that once they start tracking this data, they’ll have to continue doing so and those numbers, especially on diversity, will be expected to improve.”
According to Alison Nankivell, a senior vice president at BDC Capital, a Canadian venture fund that also invests in other VCs, the pressure around diversity and climate change first began with institutional shareholders pressuring the companies they invest in to conform, or else. Then it trickled down to venture firms, particularly over the past year.
“That conversation, which had been brokered over the past 12 to 18 months, has just grown that much more pronounced because of the current climate where there is a greater willingness on the part of [venture capital firms] to understand what they need to do to secure a long-term commitment,” Nankivell said.
Improving diversity and climate change disclosures is now a part of the “risk management” process, Nankivell further revealed, adding that companies that obey see their market values rise while resistors are pummeled into oblivion.
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