Big corporations push for racial diversity

 



This article on MarketWatch lists a host of corporations and companies including Facebook, Google, Amazon, Paypal, GM, Salesforces that are pouring money into charity organizations, political movements, and advocacy groups pushing for racial diversity and racial justice as of 2020. Their donations added up to 45% of total funding for racial equity movement in 2020 (Albrecht, 2021).

The article also points out how there are many transparency problems with the entire processing of financing these "racial justice" movements. These companies do not always publicly disclose how much and where they donate the money and clients and recipients also sometimes do not want to disclose their identity. In addition, the article also raise questions about how much of the funding will actually impact real life of minority groups. 

This article shows me that across the spectrum, big corporations are making a big push to politicize race and are spending a lot of money both financing dubious causes and virtue signal in the eye of the public, since it is pretty vague how all this racial diversity agenda has anything to do with the bottom line and profitability of the company. By putting race into the equation in their consideration of hiring and human resource management, they are simply destroying themselves by corroding the simple basis of meritocracy that put them on top in the first place.

On the other hand, I know their Boards of Trustee are ultimately not interested in profitability, but in political lobbying in order to maintain their monopolistic control over the market. Playing the racial equity card in the 21st century is a convenient way to pander to the mob, to divide and conquer and and filter for ideological impurity among their rank.       


References

Albrecht L. (2021, Novemeber 3) Facebook, Amazon, Google and others pledged billions for racial justice in 2020. Tracking where all the money went is ‘almost impossible.’ MarketWatch. Retrieved from https://www.marketwatch.com/story/companies-pledged-billions-toward-racial-justice-in-2020-tracking-where-all-the-money-went-is-almost-impossible-11635201572


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