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.
Bypass Big Tech Censors
Why One Survival Food Company Shines Above the Rest
Let’s be real. “Prepper Food” or “Survival Food” is generally awful. The vast majority of companies that push their cans, bags, or buckets desperately hope that their customers never try them and stick them in the closet or pantry instead. Why? Because if the first time they try them is after the crap hits the fan, they’ll be too shaken to call and complain about the quality.
It’s true. Most long-term storage food is made with the cheapest possible ingredients with limited taste and even less nutritional value. This is why they tout calories so much. Sure, they provide calories but does anyone really want to go into the apocalypse with food their family can’t stand?
This is what prompted the Llewellyns to launch Heaven’s Harvest. They bought survival food from multiple companies and determined they couldn’t imagine being stuck in an extended emergency with such low-quality food. They quickly discovered that freeze drying food for long-term storage doesn’t have to mean sacrificing flavor, consistency, or nutrition.
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At Heaven’s Harvest, their only focus is amazing food. They don’t sell bugout bags, solar chargers, or multitools. They have one mission – feeding Americans in times of crisis.
What they DO offer is the ability for people to thrive in times of greatest need. On top of long-term storage food, they offer seeds to help Americans for the truly long-term. They want them to grow their own food if possible which is why they offer only Heirloom, Non-GMO, Non-Hybrid, Open-Pollinated seeds so their customers can build permanent food security on their own property.
