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Please write 4 paragraphs on overview/Analysis of the attached PPT Woke, Inc. By Vivek Ramaswamy Chapter 4 and 5 Summary – Team 3 Jenny Hanes,

Please write 4 paragraphs on overview/Analysis of the attached PPT

Woke, Inc. By Vivek Ramaswamy

Chapter 4 and 5 Summary – Team 3
Jenny Hanes, Nolan Bielskis, Amy Thorpe, Luke Darland,
and Ruqayah Algburi

Insight (key issues)

The ESG Bubble
1. Don’t just throw your money research the companies you support see if their values and the

initiatives they support align.
2. There’s no evidence to support that ESG initiatives underperform/overperform.
3. ESG initiatives put democracy at risk and the need for new laws being implemented as the need

for new laws no longer would be essential.
4. Make a change by getting involved with nonprofit organizations aligned with your ideas.
5. Go through proper government policy procedures that allow for proper accountability (debates,

elections, etc)

Rise of the Managerial Class

1. Ramaswamy explores ways in which people in positions of power use their positions to
influence and push self-serving agendas that threaten any progress to the real issues.

2. Large corporations use social issues like Black Lives Matter (BLM) and other social issues as a
focus to increase personal gain and profits, not because they actually care.

3. Companies set the tone and the issues of focus and no real issues are addressed, people
accept it as bond as they assume companies account for all parties best interests.

4. Issues of corporate social responsibility are used as a way to market and increase profits as
companies exploit the same communities because they aren’t accountable to anyone.


In these chapters Ramaswamy uses examples from his
own personal experiences to relate to what is being
talked about in the chapter which is a very creative
way to deeper explore the topics of the chapters. In
chapter 4 “The Rise of the Managerial Class” he says “
My employees at Roviant who pushed me to do more
as CEO were sincere in their desire for justice” (pg.

In chapter 5 he says “ As I listened to the Democratic
congressman and their witnesses lay out their case for
these new SEC rules, I had a flashback to own
experience watching the 2008 financial crisis” (pg.106).
This is showing Ramaswamy reflecting on a
Democratic congressman’s presentation on new SEC
rules, triggering memories of the 2008 financial crisis.
This outlook shows a sense of déjà vu and highlights
the cyclical nature of financial regulations and crises.
Vivek’s past experiences shows his skepticism or
caution regarding proposed solutions, adding depth to
their overall perspective and highlighting the enduring
impact of historical events on contemporary


Ramaswamy maintains a clear and coherent structure in Chapters 4 and 5, allowing readers to
follow his exploration of woke capitalism’s historical roots and contemporary manifestations.
Through well-organized presentation and compelling content, he effectively conveys his thesis on
the complexities and implications of corporate social activism. These chapters are well organized
and easy to follow. His incorporation of facts and personal experiences makes the chapters easy to
follow and understand which creates a great readers experience.

These are all issues that became a

large piece of the market that
affected the fallout of these items.

The mortgage fallout

Racial Diversity

ESG friendly company- sustainable


Ramaswamy argues that the backlash is just a smokescreen for the actual issues at
hand. This is his alleged assumption that it harms social justice. Ramaswamy
addresses that this should be at the forefront of companies and can be used as a
vital marketing tool in the future. The fallout from one company can essentially lead
to the growth of another.

The arguments are very thought provoking and it is an eye opening take on
corporate social responsibility.

Evaluating Ramaswamy’s Arguments (Strengths)
1. Unique Insight: Vivek draws on his unique perspective/experience from the pharmaceutical industry to support

his discussion on how the rise of the managerial class is ruining corporate culture. (i.e. Pharma companies using
Wokenomics to price gouge inconspicuously over-time rather than all at once, avoiding regulatory reform and
customer dissatisfaction.)

2. Background on Corporate Structure: Elaborating on how corporate boards are selected and formed gives
context and validity to the self-serving picture of the managerial class. (i.e. CEO chooses who will sit on their
board, not shareholders, and that same CEO holds influence over those board members and decisions made.)
Additionally, why CEOs elect to go public vs. staying private; removing accountability from the equation.

3. Opportunities for Success of Startups: Drawing on experience with his company, Vivek explains how he took his
private company, not focused on the balance sheet, into the stratosphere by purchasing licenses to drugs larger
companies had discarded. Vivek picked up where the large corporations had left off after they had already
invested millions of dollars into the R&D. Providing insight into opportunities for startups.

4. Woke Capitalists Win in the End: Vivek argues ESG companies are successful as many capture the attention of
the government while promoting social causes. In doing so they receive large amounts of aid, grants, and
passing of beneficial legislation to assist with their efforts. This argument is supported by Vivek’s discussion of
real-world examples such as BlackRock and AstraZeneca.

Evaluating Ramaswamy’s Arguments (Weaknesses)
1. Secondhand Account of Corporate Board Membership: While Vivek has great insight into how corporations’

function and has many connections to real corporate board members, he admits that he has never personally
served on the board of a public company as part of this managerial class he feels is corrupt. His argument
would be strengthened if he had firsthand experience to draw from.

2. Categorization of Entire Managerial Class as Self-Serving: In Vivek’s argument, he does not consider another
side of the managerial class, one that is not self-serving or corrupt. Rather he lumps this entire sector of
corporate culture into the same pool.

3. Investing into ESG Focused Companies is Less Profitable: While Vivek made this statement as principle, he
provided counterintuitive evidence in his argument that this is not the case in real life. He is predicting a future
collapse due to this; however, current data suggests there may be merit to placing emphasis on ESG factors.
Ultimately Vivek remains neutral on a final opinion.

4. ESG Corporate Collapse Prediction: Vivek is simply providing a guess based on relating to the 2008 housing
crisis. His argument is difficult for the reader to decipher accuracy of, as his analysis compares two very
different markets. While Vivek does attempt to provide a crosswalk between how the two relate, this is a
biased opinion.

Facilitating Discussion
1. Do you agree that blurred lines have been created from the rise of the

managerial class which negatively impact shareholders?

2. Should CEOs be protected by the business judgement rule (BJR) if a
shareholder sues them for using company resources to fund their favorite
social causes?

3. Should companies be required to disclose their economic, social, and
governance factors (ESG)?

4. Like Vivek, do you also believe we are on the cusp of an ESG company bubble
collapse similar to the 2008 housing crisis?

Application of Theory
Woke, Inc. By Vivek Ramaswamy Chapter 4 and 5 Theorem According to Vivek

Ramaswamy in his book Woke, Inc., corporate capitalism is a self-interested tool used by
corporations to increase sales and promote their brand by using woke capitalism. It has been
suggested by him that woke capitalism is nothing more than a cynical marketing ploy designed to
distract the public from real problems without addressing the underlying issues behind them.

According to Ramaswamy, woke capitalism is not really anything more than a public
relations campaign which has been designed to create positive publicity for a company without
actually doing anything to help those who are in need. The author cites the example of Nike’s “Just
Do It” campaign, which he claims is nothing more than a publicity stunt that does not actually
address any of the real issues facing society today, which he considers to be a publicity stunt.

General Summary
Woke, Inc. By Vivek Ramaswamy Chapter 4 and 5 Summary Ramaswamy argues that businesses

should focus on providing goods and services that benefit society and not take part in political activism,
instead they should focus on providing goods and services that benefit society and not engage in politics.
Instead of engaging in political activism, he believes that businesses should focus on creating value for
their customers and investors rather than focusing on political activism. Furthermore, he emphasizes the
importance of creating long-term shareholder value rather than simply engaging in short-term activism in
order to create long-term shareholder value for the company.

Ramaswamy further argues that businesses need to align their values with their goals and create an
environment where their employees are able to flourish. Business decisions should be made in a way that
is beneficial to all stakeholders, rather than just shareholders, as he argues. To conclude, he promotes that
businesses should strive to make a positive impact on the world by making a difference through their

Expand Your Understanding

Foglia, Matteo. Does every cloud (bubble) have a silver lining? An investigation of
ESG financial markets. Journal of Behavioral and Experimental Finance

Democratic Socialists of America. The Real Story Behind the Crash and Burn of
America’s Managerial Class.

Ramaswamy, Vivek. The Rise of the Managerial Class with Michael Lind.

Table of Contents


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