Kerby Anderson

Yesterday I talked about the moral philosophy known as “effective altruism” that has been promoted by the ultra-rich and by CEOs of certain corporations. Noah Gould explains that this latest fad of progressives has been used by some to commit fraud and abuse. The people we will discuss here are the exception, but they illustrate how repeating the right woke phrases have been used to cover some significant misdeeds.

Sam Bankman Fried is the current example. The so-called “king of crypto” promoted his brand of “effective altruism” and was the second largest Democratic donor in the 2022 elections. He spread donations around and thereby merited puff pieces and comments suggesting he was the next Warren Buffet or could be considered the “J.P. Morgan of crypto.”

Another example would be Elizabeth Holmes, CEO of a much-admired biomedical start-up. She made the rounds of talk shows promoting her company and a technology that hadn’t even been invented. She created a false narrative that even included masking her true voice in favor of a husky baritone. The puff pieces continued until her fraud was evident to everybody.

A third example is Dan Price, who I have mentioned in previous commentaries. He is best known as the corporate leader who offered a $70,000 minimum wage for his employees. Yet while he was talking about the virtues of promoting women, he was allegedly exploiting them. He has been charged by prosecutors with issues ranging from sexual assault to reckless driving.

Each of these people illustrates that you can often deflect attention from your fraud or abuse by knowing what to say and do. If you are mouthing progressive platitudes and promoting wokeism, potential critics won’t be asking tough questions about your company or your actions.