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Azoria Partners, a new anti-woke investment firm, is launching an ETF aimed at excluding companies that prioritize diversity, equity, and inclusion (DEI) over financial performance. The fund, co-founded by James Fishback and Asaf Abramovich, will invest in all S&P 500 companies, excluding those with DEI hiring targets.
The firm’s Meritocracy ETF, which will be available in 2025, will specifically exclude about three dozen companies from the S&P 500 that have implemented DEI hiring quotas. Among those to be excluded are Starbucks, Best Buy, Vanguard, and BlackRock. Azoria is reportedly finalizing a roughly $25 million venture round.
“We believe companies focused on race and gender-based hiring rather than skill and merit are pursuing value-destructive behavior,” Fishback said this week in an interview with Fox News.
.@InvestAzoria CEO @j_fishback calls on Starbucks CEO Brian Niccol to abandon hiring quotas and restore focus on merit-based hiring.
"Over the past five years, the S&P 500 is up nearly 100%. Starbucks is up only 12%. It has a people problem." pic.twitter.com/4NTyiJsq9L
— CAPITAL (@capitalnewshq) December 16, 2024
In a fiery op-ed for the New York Post, Fishback lambasted corporations that use DEI criteria in hiring decisions, claiming they are likely to underperform. “If you commit to hiring on race and gender and not merit, your stock will continue to underperform. Our ETF will call you out,” he said. “Our goal is to offer investors a portfolio of companies that prioritize hiring the best and brightest, regardless of their appearance.”
Fishback pointed to Starbucks as a key example. In 2020, the coffee giant announced a goal of achieving 30% racial and ethnic diversity in its workforce. “What does that have to do with making coffee at a profit in America?” Fishback remarked.
“You hire the best and brightest no matter what they look like.” While the S&P 500 has surged nearly 100% over the last five years, Starbucks’ stock has only risen by 12%, which Fishback attributes to the company’s focus on DEI policies rather than talent and performance.
Fishback also urged Starbucks’ new CEO, Brian Niccol, to reassess the company’s DEI strategy and return to a merit-based approach. “The espresso machines and the Wi-Fi aren’t the issues. It’s the people at the core of the business,” Fishback said.
Fishback, a supporter of President-elect Donald Trump, recently expounded on his vision for Azoria Partners during a luncheon at Mar-a-Lago. Ark Invest CEO Cathie Wood was among those who attended the gathering at the posh Palm Beach club.
Starbucks is a great American company that has lost its way.
The good news is that it can course-correct overnight by accepting the recommendation that we @InvestAzoria made at Mar-a-Lago last week:
"Restore meritocracy by eliminating your racial and gender hiring targets. It's… pic.twitter.com/FCNtgpUZcl
— James Fishback (@j_fishback) December 9, 2024
Fishback made headlines this year when he sued his former employer, Greenlight Capital, alleging that the hedge fund run by David Einhorn hindered his fundraising efforts by misstating his role during a reference check.
Mysterious “Skyquakes” Are Causing Strange “Booms” in the Sky, and Scientists Have No Explanation
by Michael Snyder
(End of the American Dream)—What is causing the extremely loud “booms” that people are hearing in the sky all over the world? We are being told that “skyquakes” are responsible, but scientists have no idea why these “skyquakes” are occurring. In some cases, the “skyquakes” cause such powerful shaking that…
The Biggest Sale on Long-Term Storage Beef EVER
by Sponsored Post
Let’s cut to the chase. Prepper All-Naturals is offering an unprecedented 40% off for it’s “Beef Steak” survival bags with promo code “steak40”. With a 25-year shelf life and a single ingredient (beef, of course), our most popular product is available for a very limited time with the biggest discount…
Seattle Is Ordered to Stop Blocking Illegal Alien Deportations in the Most Hilarious Court Decision Ever
by PJ Media
A federal court has just pooped in the oatmeal of the West Coast, Messed Coast™governors and local election officials suffering from acute cases of Trump Derangement Syndrome who think they can stop illegal alien deportations. And after this hilarious and thorough legal takedown from the 9th Circuit Court of Appeals,…
Illegal Alien Terror Suspect Found Dead in Cook County Jail Cell
by Slay News
An Islamic illegal alien has been found dead in his jail cell after being arrested on terrorism charges. According to CWBChicago, 22-year-old Sidi Mohamed Abdallahi was found dead at the Cook County jail in Illinois on Saturday. Abdallahi was arrested on felony terrorism and hate crime charges in October. He…
Trump’s Wild Bunch Is Ready for Action
by Frank Miele
If for no other reason than that it will elicit fear in the hearts of autocracy-phobics, I propose that Donald Trump’s second-term Cabinet be known as “The Wild Bunch.” The name is best known as the title of Sam Peckinpah’s classic 1969 western featuring a colorful cast of aging outlaws…
FAA Issues Flight Restrictions Over Questionable Drone Activity Near Trump’s Bedminster Golf Course
by Just The News
The Federal Aviation Administration (FAA) on Tuesday said that it has issued two flight restrictions on the area surrounding President-elect Donald Trump’s Bedminster golf club in New Jersey, following questionable drone activity. The drone sightings were first reported on Nov. 18, but have continued into this week, according to Fox…
Ex-FBI Agent Convicted for Stealing From Jan 6 Defendant During Raid
by Trending Politics
A former Houston-based FBI agent has been convicted of stealing valuables and cash while conducting searches. In one instance, the agent stole cash and silver bars from a non-violent January 6 defendant’s home. Nicholas Anthony Williams, 36, was indicted on January 31 in the Southern District of Texas. Williams, who…
Democrats, Media Elite Urge Biden to Pardon Trump’s Alleged ‘Enemies List’
by Breitbart
President Joe Biden should issue preemptive pardons to his political allies and those deemed to be on President-elect Donald Trump’s alleged “enemies list,” Democrats and their media allies believe. Delivering a preemptive pardon indicates an admission of guilt, although Democrats claim a preemptive pardon would only be intended to block…
Fani Willis Forced to Release All Communications With Jack Smith, J6 Committee
by Trending Politics
The Fulton County Superior Court has ruled against District Attorney Fani Willis, ordering her to disclose communications with Special Counsel Jack Smith and the House January 6 Committee. The decision, announced on Tuesday, follows a lawsuit brought by Judicial Watch, a conservative watchdog group, which accused Willis of violating Georgia’s…
Lindsey Graham Is the Warmongering NeoCon Leading the Charge to Upend Pete Hegseth
by JD Rucker
Pete Hegseth represents a shift away from the wokeness that has infected the United States military. This is possibly the biggest reason President-Elect Donald Trump tapped him to be the next Secretary of Defense and the vast majority of Republicans on Capitol Hill can support this, at least for the…
‘Where Are Black Democrats?’: Charles Payne Tells Personal Story to Call Out ‘Huge Double Standard’ of Biden Family
by Nicole Silverio, DCNF
(DCNF)—Fox Business host Charles Payne called out the alleged “huge double standard” of President Joe Biden’s family Tuesday by revealing that his brother, who struggles with a crack addiction, is currently serving a jail sentence. Payne said his brother, who is getting out of jail on Friday, is likely one…
Zelensky Admits Ukraine Can’t Retake All Its Land: ‘We Must Seek Diplomatic Means’
by Breitbart
Ukrainian President Volodymyr Zelensky conceded in an interview on Tuesday that Ukraine does not have “enough forces” to restore sovereignty over Russian-occupied Crimea and “must seek diplomatic means” to end the Russian invasion and regain its land. The state-run Ukrinform outlet reported that Zelensky described Crimea – which Russia colonized…
Ultra-Processed Foods: How Bad Are They for Your Health?
by Olivia Cook
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“Already Pretty Far Down the Line”: The Container Store Could File for Bankruptcy as Soon as Next Year
by Tyler Durden, Zero Hedge
(Zero Hedge)—As the retail apocalypse that started with Amazon and e-commerce continues, the latest victim is The Container Store. The retail giant could file for bankruptcy as soon as next year, according to the New York Post, who said the retailer is blaming its recent descent on “a weak housing…
Mysterious ‘Car-Sized Drones’ Over New Jersey Prompt FBI Investigation
by Zero Hedge
Several weeks of mysterious drone swarms over the skies of one New Jersey county near the military research and manufacturing facility Picatinny Arsenal have sparked concerns among residents and prompted an FBI investigation. “It’s kind of unsettling,” Mike Walsh, a Morris County resident who has spotted the drones on numerous…
UNESCO’s New Mission: Train Influencers About Combatting Online “Misinformation”
by Reclaim the Net
The UN Educational, Scientific and Cultural Organization (UNESCO) is now incorporating teaching influencers how to “fact check” into its activities. UNESCO claims that influencers have become “primary sources of news and cultural information” around the world – which prompted it to carry out a survey into how these online personalities…