Anson Frerichs discusses corporate responses to DEI pressures during an interview with Joe Lonsdale.
Prediction Not checkable as stated
Frerichs: Companies Abandoning ESG and DEI Will Massively Outperform
“I think this is actually an interesting opportunity to see which companies are walking back from a lot of the ESG and DI commitments. I think those ones are going to massively outperform the ones that try and serve every single.”
Insight
Frerichs: 3G Capital's Zero-Based Budgeting Model Only Works with Acquisitions
“The first one is that sort of the InBev style, which was the three G capital InBev zero based budgeting operating style. It only works when you have things to buy. Some degree, these guys got too successful. They bought everything. There was nothing left to bu…”
Assertion Not checkable as stated
Frerichs: Anheuser-Busch Vetoed Black Rifle Coffee Deal as Too Controversial
“I tried to do a partnership with Black Rifle Coffee Company when I was at Anheuser-Busch. This made all the sense in the world. I mean, the guy who's drinking a six pack of Budweiser at night is a lot of times drinking Black Rifle Coffee in the morning. And, b…”
Assertion Contradicted
Frerichs: Bud Light Backlash Erased $40 Billion in Market Cap
“The company lost millions of customers, billions of dollars of shareholder value, and forty billion dollars have been erased since this happened. Thousands of people have lost their jobs. They work with tons of independent distributors, family owned distributo…”
Assertion Partly supported
Frerichs: Big Three Asset Managers Lead 95% of S&P 500 Companies
“BlackRock, State Street, Vanguard have 20 trillion dollars of capital. They are the single largest shareholder, 95% of the S&P 500, and they have an outsized influence with the 20 to 30% of the shares they can vote.”
Prediction Not checkable as stated
Frerichs: Zuckerberg Won't Censor Again, Goldman Won't Return to Quotas
“I actually think folks like Mark Zuckerberg, he's not going to censor speech again. I don't think that you're going to have Goldman going back to some of the quota systems that they were implementing.”