Anson Frericks

And they even changed the purpose of a corporation in the 2018, 2019 time period. There was a famous letter that Larry Fink, the CEO of BlackRock wrote in 2018, essentially telling companies that we want them to now earn their social license.

And they even changed the purpose of a corporation in the 2018, 2019 time period. There was a famous letter that Larry Fink, the CEO of BlackRock wrote in 2018, essentially telling companies that we want them to now earn their social license.

and you're going to do that because we have evolved the purpose of a corporation with a group known as the business round table in the united states to be more focused on your stakeholders so you're no longer focused on shareholders we want you to focus on stakeholders and that is now who you are now going to focus on for maximizing value without defining again who those stakeholders are

and you're going to do that because we have evolved the purpose of a corporation with a group known as the business round table in the united states to be more focused on your stakeholders so you're no longer focused on shareholders we want you to focus on stakeholders and that is now who you are now going to focus on for maximizing value without defining again who those stakeholders are

and you're going to do that because we have evolved the purpose of a corporation with a group known as the business round table in the united states to be more focused on your stakeholders so you're no longer focused on shareholders we want you to focus on stakeholders and that is now who you are now going to focus on for maximizing value without defining again who those stakeholders are

And so this becomes very, very problematic in this sort of 2018, 2019 timeframe because companies are frankly confused. And it set up really a lot of, I'll call it kindling for an event that happened in 2020, which was COVID. And all of a sudden companies are being told they need to earn their social license.

And so this becomes very, very problematic in this sort of 2018, 2019 timeframe because companies are frankly confused. And it set up really a lot of, I'll call it kindling for an event that happened in 2020, which was COVID. And all of a sudden companies are being told they need to earn their social license.

And so this becomes very, very problematic in this sort of 2018, 2019 timeframe because companies are frankly confused. And it set up really a lot of, I'll call it kindling for an event that happened in 2020, which was COVID. And all of a sudden companies are being told they need to earn their social license.

They're being told that now no longer your shareholders, your kind of primary person that you're serving, but you're now serving all stakeholders without defining what that is. And in the 2020 time period, now all of a sudden you have this event of COVID. And when COVID happens, you just call this a crazy time period. We don't need to go through all of it.

They're being told that now no longer your shareholders, your kind of primary person that you're serving, but you're now serving all stakeholders without defining what that is. And in the 2020 time period, now all of a sudden you have this event of COVID. And when COVID happens, you just call this a crazy time period. We don't need to go through all of it.

They're being told that now no longer your shareholders, your kind of primary person that you're serving, but you're now serving all stakeholders without defining what that is. And in the 2020 time period, now all of a sudden you have this event of COVID. And when COVID happens, you just call this a crazy time period. We don't need to go through all of it.

But companies, frankly, like lost their sense of direction about who were they serving, what their mission is. And you remember we all had to flatten the curve and, you know, the so-called flatten the curve in early 2020. And companies were essentially- Except for the George Floyd rioters who- We're under no such obligation, I notice. Correct. But that's obviously after this.

But companies, frankly, like lost their sense of direction about who were they serving, what their mission is. And you remember we all had to flatten the curve and, you know, the so-called flatten the curve in early 2020. And companies were essentially- Except for the George Floyd rioters who- We're under no such obligation, I notice. Correct. But that's obviously after this.

But companies, frankly, like lost their sense of direction about who were they serving, what their mission is. And you remember we all had to flatten the curve and, you know, the so-called flatten the curve in early 2020. And companies were essentially- Except for the George Floyd rioters who- We're under no such obligation, I notice. Correct. But that's obviously after this.

But, you know, in March of 2020, I mean, almost every company lost what its mission was. What do I mean by that? Well, let's go back to what, at Anheuser-Busch, we were making hand sanitizer in 2020 all of a sudden because we need to flatten this curve and we're all in this existential crisis of COVID. Right.

But, you know, in March of 2020, I mean, almost every company lost what its mission was. What do I mean by that? Well, let's go back to what, at Anheuser-Busch, we were making hand sanitizer in 2020 all of a sudden because we need to flatten this curve and we're all in this existential crisis of COVID. Right.

But, you know, in March of 2020, I mean, almost every company lost what its mission was. What do I mean by that? Well, let's go back to what, at Anheuser-Busch, we were making hand sanitizer in 2020 all of a sudden because we need to flatten this curve and we're all in this existential crisis of COVID. Right.

uh you had delta airlines no longer flying passengers but now flying medical supplies all around you had uh general motors which is now making ventilators for for the country walmart setting up covet testing facilities so all of these companies all of a sudden were told to focus on a lot of different initiatives besides just their typical products and services and frankly like a lot of these efforts like you think about like the curve was flattened very quickly you know there was no like real existential crisis like we thought there was but the problem was that since all these companies had kind of been pushed off their mission

uh you had delta airlines no longer flying passengers but now flying medical supplies all around you had uh general motors which is now making ventilators for for the country walmart setting up covet testing facilities so all of these companies all of a sudden were told to focus on a lot of different initiatives besides just their typical products and services and frankly like a lot of these efforts like you think about like the curve was flattened very quickly you know there was no like real existential crisis like we thought there was but the problem was that since all these companies had kind of been pushed off their mission

uh you had delta airlines no longer flying passengers but now flying medical supplies all around you had uh general motors which is now making ventilators for for the country walmart setting up covet testing facilities so all of these companies all of a sudden were told to focus on a lot of different initiatives besides just their typical products and services and frankly like a lot of these efforts like you think about like the curve was flattened very quickly you know there was no like real existential crisis like we thought there was but the problem was that since all these companies had kind of been pushed off their mission