If you thought the Flying Yeet of Death was cheap, the Ukrainians have announced they just used a drone that looks even cheaper to hit a Russian airbase:
(A follow-up video suggests they may not have hit much, if anything, but I’m more interested in the drone than the strike.)
The Australian SYPAQ Corvo UAV is the drone reportedly used. “These drones are made out of cardboard, making them almost invisible to radar. They can carry a four to five kilogram payload have a range of between 40 to 120 kilometers, and a flight time of one to three hours. These are dirt cheap and can be made in the thousands.” It ships in a flatpack kit.
Here’s a closer look at them:
I suspect that SYPAQ represents a goodly portion of the future of drone warfare: Numerous and ultra-cheap, but capable of taking out much more expensive enemy vehicles and equipment.
High tech and low cost is a very cyberpunk approach to warfare.
Well, the Air Force is back to wanting to kill the A-10, and this time they may succeed.
“The US Air Force is charging ahead with plans to retire the old A-10 Warthog attack jet within the next five years, but there’s only one problem: there’s no dedicated close air support platform to replace it.”
“In the 2023 version of the National Defense Authorization Act, congress approved the Air Force requests to begin divestment of the current A-10 fleet, citing the aircraft is too old, too slow and too expensive to maintain.”
“The Air Force seems to be getting its way this time, with a set timetable to replace the 54 A-10s from Moody Air Force base with F-35a by 2028, and plans to retire the rest of the fleet soon to come.” As Jerry Pournelle once said, “USAF will always retire hundreds of Warthog to buy another F-35. Always, so long as it exists. And it will never give up a mission.” The F-35 is certainly a more modern, capable and flexible aircraft than the A-10, but it also costs about $79 million each, which makes me think that the Air Force is going to be very leery about letting it be used for close air support. By contrast, the lifetime cost of the A-10 is about $14 million per plane.
Back when the A-10 was first proposed, opponents argued that the role of close support could be handled by the F4 Phantom II, which brings home just how old the A-10 is, since the Phantom was retired from combat use in 1996.
Back when the GAU-8 30mm Gatling gun was developed, guided missile technology was new and finicky tech. That’s no longer the case. “When a laser-guided Maverick can hit a tank more accurately from 22km away, the 1.2 km range of the G8 looks a lot less impressive.”
The A-10 is easy to fly but slow, with a max speed of 439MPH.
Thick titanium armor provides solid protection to proximity explosions, less to direct hits. (Remember, in 2003 an A-10 managed to make it back to base even though it was missing most of a wing.)
The A-10 kicked ass in Desert Storm. “Final tally for the A10 in the first Gulf War was an impressive 987 tanks and 1,355 combat vehicles for only 6 planes lost. Another 14 A-10s were damaged but able to fly back to base, suggesting that the A-10 survivability was keeping pilots alive in that conflict.” Caveats: A lot of those kills were with Maverick missiles, and Desert Storm was 32 years ago.
In Iraq and Afghanistan, the A-10 was praised for how well it performed close air support, but also criticized for friendly fire and civilian casualties.
“Emphasis on keeping the A-10 and rugged and cheap delayed major upgrades to the plane sensor and fire control systems until the mid-2000s. The $2.2 billion A-10C upgrade program finally updated the
Warthog’s cockpit from the 1970s era tech it had first flown with.”
“The Warthog is almost 50 years old at this point, meaning that aircraft are having to undergo more and more maintenance each year. These costs are adding up, to the point where newer platforms are becoming cheaper to operate per flight hour.”
As new technology enables new means of war-fighting, the Air Force appears to have finally convinced congress that other aircraft can do the same job but better. A big part of the argument for retiring the A-10 is a mirror of the original survivability argument from the 1960s: There doesn’t seem to be much room for a big aircraft that flies low and slow in a near-peer conflict, and likely hasn’t been for some time the A-10 has been effective as long as it has thanks to the low intensity of counterinsurgency warfare that U.S. has been fighting for 20 years. Besides a few man-portable launchers, the Taliban and ISIS didn’t have much air defense that could threaten the A-10, and so the Warthog thrived in the asymmetric warfare conditions of Iraq and Afghanistan. Experts say that won’t be the case against a potential enemy like China.
“The gun’s tank busting abilities aren’t sufficient against modern tank armor. The 30 mm API rounds used by the cannon can penetrate around 69mm of steel armor at 500 meters, but modern Russian tanks like T72-B3 have 80mm or more on the hull and sides and way more protection on the front.”
As much as I hate to admit it, these arguments are probably correct. The Russo-Ukrainian War has shown that the threat environment is deadlier than ever, with Russia’s air force unable to achieve air superiority over Ukraine, and Russia has reportedly limited sorties to it’s own airspace due to Ukrainian air defenses. Ukraine has shot down at least 30 Russian Su-25s, the Soviet close air support plane most broadly comparable in role and age to the A-10, which is more than they’ve shot down of any other aircraft type. And the Su-25 is over 100 MPH faster than the A-10.
Also the rise in combat drone number, capability and variety means that the A-10’s close air support role is increasingly being taken over by cheaper, more flexible unmanned vehicles. A-10s would have been perfect for taking out those long convoys strung out on the road to Kiev, but a small swarm of drones with multiple missiles could have done the same thing if they were available, probably at lower cost and without losing pilots. (Some will point to the B-52 as example of older aircraft that are still useful on the modern battlefield, but their mission (high altitude and/or far away using standoff missiles) is the exact opposite of the A-10’s close air support mission.)
Technology marches on, and there’s no reason you couldn’t have drones half the size and one-tenth the cost of an A-10 armed with 10-12 smart missiles replacing most of the A-10’s mission capabilities. Whether the Air Force will let that happen is another question, as the Sky Warden shows the Air Force never wants to give up a mission, but drones have proven too valuable in Ukraine to shove that genie back inside the bottle.
Ukraine is stepping up it’s naval drone game, as they just hit a Russian tanker.
A Ukrainian sea drone full of explosives struck a Russian fuel tanker overnight near a bridge linking Russia to annexed Crimea, the second such attack in 24 hours, both sides said on Saturday.
No one was hurt, but the Crimean Bridge and ferry transport were suspended for several hours, according to Russian-installed officials in Crimea, which Moscow seized from Ukraine in 2014.
A Ukrainian intelligence source told Reuters that the drone with 450 kg of explosives hit the SIG vessel as it transported fuel for the Russian military in Ukrainian territorial waters.
“The tanker was well loaded with fuel, so the ‘fireworks’ were seen from afar,” the source said, of the joint operation by Ukraine’s navy and security service.
Kyiv says destroying Russia’s military infrastructure inside Russia or on Russian-controlled territory in Ukraine is crucial to its counteroffensive after the February 2022 invasion.
Another sea drone attack on Russia’s navy base at Novorossiysk damaged a warship on Friday, the first time the Ukrainian navy had projected its power so far from its shores.
Suchomimus has two separate videos up about the attack, the second of which includes footage of the strike itself:
To me one of the interesting things in that video is not about the attack itself, but the sat pic 25 seconds in that shows over a dozen ships anchored some 20km south of the Kerch Strait Bridge. I don’t know why they’re doing that (Escorting them one at a time through the strait? Port capacity?), but an anchorage area like that offers a target-rich environment now that we know Ukraine has the capability to hit it.
That video shows a guided rather than pre-programmed drone, as it corrects course to hit the tanker.
In the second video, Suchomimus also covers the various Black Sea naval assets Russia might have to employ to defend against naval drone attacks. The choices are limited, and some of the ships they have available seem unsuited to the task. And a few that are suitable will have to be taken off duty firing Kalibr missiles at Ukrainian civilian infrastructure.
The Kerch Bridge connecting Russia with occupied Crimea has been hit again.
Two people have died after an “attack” on the bridge linking the occupied Crimean peninsula to Russia.
Moscow has blamed Ukraine for the incident, alleging US and UK involvement, but Kyiv has not officially said it was responsible.
The Kerch bridge was opened in 2018 and enables road and rail travel between Russia and Crimea – Ukrainian territory occupied by Moscow’s forces since 2014.
Russia’s transport ministry said the bridge’s supports were not damaged.
The ministry said investigations were continuing, but unconfirmed reports said explosions were heard early on Monday.
It is the second major incident on the Kerch bridge in the past year. In October 2022, the bridge – which is an important supply route – was partially closed following a major explosion. It was fully reopened in February.
Suchomimus has a video showing the damage. One of the road spans has been dropped by the attack, but not completely. It took several months to repair the road span damage from the last attack.
He says that a sea drone appears to be responsible.
With Russia’s supply lines in Zaporizhzhia under increasing pressure due to the ongoing Ukrainian counteroffensive there, even partially disabling the bridge is going to put more pressure on Russia’s logistics network to keep their troops supplied, not to mention encouraging even more Russians to get out of Crimea while the getting is good.
It looks like someone took a lawnmower chassis and replaced the mower blade and engine with a mine-laying servo.
#Ukraine: Judging by the video, the main idea is that this UGV "RATEL" is used as a mobile warhead that carries two TM-62 AT mines and whose goal is to be activated under a vehicle or tank. In the video, UGV was successfully tested on an old van. #UkraineRussiaWar️#Russiapic.twitter.com/JRqtabl4nj
— 🇺🇦 Ukraine Weapons Warfare (@WeaponsWarfare) April 29, 2023
RATEL is evidently the name of the device, and not connected to the South African Ratel IFV (though it wouldn’t shock me to see those show up in Ukrainian inventories, despite being fairly long in the tooth).
I first saw this mentioned in a Reporting from Ukraine video:
Not a whole lot of information there, either, but he did say “Recent combat footage shows that Ukrainians finally started using mine-laying drones in large numbers. Even though such drones cannot be driven far behind the front lines, they are very effective at mining the roads that go along the front line, especially those that connect Russian positions between the tree lines.”
There’s very little information available on this device online, but speculation on previous prototypes suggested they were trying to lay mines under enemy vehicles, which makes no sense. The Reporting from Ukraine description of them as an area denial weapon makes much more sense.
We think of mines as buried items, but laying them atop roads can take out unwary or distracted drivers, or cause them the to stop to clear the mines (a risky proposition, since they could be designed to explode at any removal attempt, and which subjects stopped targets to possible hostile fire), or to divert around into areas that may have buried mines (and we’ve seen plenty of video from Ukraine of Russian vehicles hitting mines buried to the side while trying to avoid some obstacle).
Busy Saturday, so enjoy a couple of Suchomimus videos about a Crimean oil refinery that Ukrainian drones made blow up real good.
Here’s footage of the refinery burning bright in the forests of the night:
“This video is showing a burning oil refinery in Depot at Kozaka Bay near Sevastopol Harbor in Crimea.”
“This took place at 4:30 AM, and it was said to be a UAV. Given the size of a blaze I would say it seems that multiple UAVs were used here.” Maybe. Or maybe it’s just that refined petroleum products are naturally very sploady and Russian safety standards and precautions suck harder than Kamala Harris.
And follow-up footage of the fire mostly controlled, but showing two oil storage tanks totally destroyed and several others damaged:
“This oil storage facility is one which supplied the Black Sea Fleet, so we’re going to have to wait and see if it’s loss will have an impact on operations from there.”
It remains an open question how much Russia has actually used its Black Sea Fleet since the sinking of Moskva over a year ago. Maybe I just haven’t been paying attention, or maybe not much news leaks out, but we don’t hear a lot about the black Sea Fleet playing a significant role in the conflict beyond occasionally participating in the missile wave attacks against Ukrainian civilian infrastructure.
Also, one wonders how much gasoline and diesel is flowing into Crimea without the Kerch Strait Bridge back at full rail capacity. I see only one other oil refinery in all of Crimea, a tiny one near Voinka Boihka that could just be a storage facility. And given the lack of visible cars and trucks in Google map images, it may not even be active.
All the more reason to believe that a counterattack taking Melitopol would make Russian resupply of troops in Crimea exceptionally difficult…
Rheinmetall has a new “GameChanger” drone (so they say) with an official “Rheinmetall Combat Drone” moniker that only a German company could love. I don’t see it as an actual gamecharger, but it is pretty interesting: a fixed-wing drone that can drop three other quadcopter drones (or, technically, loitering munitions), each of which can then be guided to the target.
The Rheinmetall Combat Drone is based on the German arms maker’s Luna NG reconnaissance drone and can carry the Hero-R type loitering munition.
“The Rheinmetall Combat Drone is the game changer for protecting your troops and fighting tactically relevant targets,” the company stated.
“Effectors as payloads transform the multipurpose drone from a sensor-to-shooter system into a highly efficient means of reconnaissance with com/network relay and SIGINT (Signals Intelligence) capabilities.”
The NG is the latest in the Luna family of reconnaissance drones, with an endurance of 12 hours and a data link range of 100 kilometers (62 miles). Satellite Communication would provide it with increased range.
The robust fiberglass composite drone has a take-off weight of 40 kilograms (88 pounds) and a service ceiling of 5,000 meters (16,404 feet).
The runway-independent vehicle can be launched with a rope hoist catapult and landed with a parachute and has stealth features with low acoustic, thermal, and radar signatures.
There’s an official video, but Rheinmetall has disabled embedding. So here’s a random Ukrainian guy (judged entirely from the trident on his hat) who’s evidently offering commentary on the drone, and has thus embedded most of the Rheinmetall video into his own. The relevant portion starts around 1:42 in.
Rheinmetall is a very solid MilTech company, but they tend to publicize things well in advance of commercial availability. (They’re hardly alone in this.) As such, I wouldn’t expect released versions to show up in the Russo-Ukrainian War. But they might send a few there for field testing.
I can see use cases for this weapon, especially for hunting down high value targets deep behind enemy lines. But this is sort of like the Cadillac Escalade of drones, while Ukraine’s flying yeet of death is more like an electric scooter: much shorter range, much more annoying, and much more cost effective for their intended task.
The Russo-Ukrainian War is probably cramming decades of drone development into white hot years of combat evolution (as wars tend to do), and every world military needs to be paying attention.
If you’re stressing over your taxes, you might be slightly relieved to know that they’re not due until April 18. Thus week: More Blue City violence and decline, lots of Social Justice Warrior backlash, Facebook shows snowflakes the door, and Budweiser commits brand suicide.

“Ex-ABC Senior Producer Who Rolling Stone Covered For Indicted On Child Porn Charges. Former ABC senior producer James Gordon Meek has been indicted on three counts of child pornography nearly one year after the FBI raided his Arlington, Virginia home.”

Something about the apparently random street murder of Silicon Valley tech executive Bob Lee seems to have overturned a crawly rock in San Francisco’s political scene, suggesting a brewing power struggle on the horizon.
On the one hand, we have a very vocally angry Silicon Valley tech community speaking out about the out-of-control crime situation in the city, with the valued and talented Lee’s untimely death from some night creature who crawled out from some sewer or encampment and stabbed him to death, quite possibly in a drug-addled haze. That’s expected if you live in a place full of bums and criminals, but Lee didn’t live in a place full of bums and criminals. He had actually fled the city for Florida based on its engulfing crime and come back only for a brief business trip.
On the other hand, we have a soggy, entrenched political establishment seeking to assure that there’s really no crime problem at all. This is evident enough in the “crime is down” coverage seen in the political establishment’s house organ, the San Francisco Chronicle, and in the surreal statements of the city hall power establishment, which is rooted in special interests, particularly the most powerful one, the homeless industrial complex. I wrote about that here. San Francisco currently spends about as much on homeless “services” as it does on police, and by some studies such as the one cited below, actually more.
Not surprisingly, as per Thomas Sowell’s observation, you can have all the poverty you want to pay for, and San Francisco pays a lot.
The Hoover Institution’s Lee Ohanian has noted:
Spending $1.1 billion on homelessness is just the latest installment in San Francisco’s constant failure to sensibly and humanely deal with an issue that it chronically misdiagnoses and mismanages about as much as is humanly possible. Since fiscal year 2016–17, San Francisco has spent over $2.8 billion on homelessness, and the city’s politicians remain seemingly baffled, year after year, as the number of homeless in the city skyrocket, as opioid overdoses kill more than COVID-19, and as the city has become nearly the most dangerous in the country. https://www.hoover.org/research/why-san-francisco-nearly-most-crime-rid….
Since 2016, the number of homeless in San Francisco has increased from 12,249 to 19,086, which comes out to about $57,000 in spending per homeless person per year. With a total population of about 860,000, roughly 2.2 percent of San Francisco residents are homeless, which is over 12 times the national average. There is little doubt that as San Francisco spends more, homelessness and its impact on the city worsens.
Do the homeless get that $57,000 being spent on them? Of course not. The princelings of the NGO establishments got that money — for themselves. That’s what’s made them politically powerful, enough to call the shots at city hall.
Democrats and Social Justice Warriors view homelessness as a huge profit center, and seek to increase the ranks of the homeless at every opportunity.
Also, an arrest was made in the Lee case and it was a fellow tech guy who knew him. “A tech executive named Nima Momeni was arrested by San Francisco police Thursday morning in the April 4 killing of Cash App founder Bob Lee…Lee and Momeni were portrayed by police as being familiar with one another. In the wee hours of April 4, they were purportedly driving together through downtown San Francisco in a car registered to the suspect.” So not a random gibbering drug-addicted transient.
Speaking of San Francisco street crime, a Whole Food closes one year after opening due to violence and theft.
A St. Louis judge sanctioned St. Louis Circuit Attorney Kim Gardner’s office last week for allegedly withholding evidence in a double-murder case, while allowing the suspect out on bond, amid rising criticism about left-wing prosecutors allowing crime to flourish in major U.S. cities.
Alex Heflin, 23, was held without bond since January after he was initially charged with two counts of second-degree murder and armed criminal action, local media reported. But those charges were recently reduced to involuntary and voluntary manslaughter before he was released, while his April 17 trial has been postponed until June 12.
Judge Theresa Counts Burke ruled in favor of Heflin’s lawyers after they filed a motion accusing a prosecutor under Gardner of violating discovery rules. They alleged that her office did not turn over evidence, including a 911 call recording and DNA evidence.
“The court finds that there have been repeated delays by the state in obtaining discovery and providing it to the defense,” Burke wrote, according to local reports.
“There has been a lack of diligence on the part of the state in following up and providing discovery to the defendant in a timely fashion. As a result of the state’s actions and lack of diligence, the court grants defendant’s second motion for sanctions.”
Under Burke’s order, Heflin will have to remain on GPS monitoring. She also ordered the circuit attorney’s office to hand over their list of witnesses within 24 hours, provide DNA test results within 24 hours, or ask a crime lab for the DNA results.
“Molotov balloons are a ball filled with sulfuric acid, but white strips are a type of paper treated with potassium chlorate and a sugar mix. When the balloon breaks, the acid reacts with the potassium chlorate and sugar, which causes ignition.”
Another girlboss indicted: “Penn grad Charlie Javice, founder of Frank, charged with fraud over $175M JPMorgan deal.” Seems the heart of the indictment is fake users.
Prosecutors and the SEC allege that Javice orchestrated a scheme to deceive JPMorgan into believing that Frank had access to valuable data on 4.25 million students who used the company’s service when in reality the number was less than 300,000.
Prosecutors said when JPMorgan (NYSE: JPM) sought to verify the number of Frank users and the amount of data collected about them, Javice fabricated a data set. She is alleged to have an unnamed co-conspirator who first asked Frank’s director of engineering to create an artificially generated data set. Prosecutors said the director of engineering declined the request after expressing concerns about its legality.
Javice, according to prosecutors, then approached an outside data scientist and hired him to create the synthetic data set — which was then provided to an agreed-upon third-party vendor in an effort to confirm to JPMorgan that the data set had over 4.25 million rows.
Based on that alleged fraudulent data, prosecutors said JPMorgan agreed to buy Frank for $175 million. As part of the deal, the nation’s largest bank hired Javice and other Frank employees. Prosecutors said Javice received over $21 million for selling her equity stake in Frank and, per the terms of the deal, was to be paid another $20 million as a retention bonus.
Prosecutors said as the fabricated data set was being created, Javice and her co-conspirator sought to purchase real data for over 4.25 million college students to cover up their misrepresentations.
Treading the fine line between “fake it until you make it” and “interstate wire fraud.”
Bud light tranny pander wrecks brand. “I’ve never seen such little sales [as] in this past few days.”
“AK Guy” Brandon just dropped the fourth installment of his “Weird Guns Being Used in Ukraine Right Now” on YouTube, showing some of the funky, modified, and just plain ancient weapons be used in active combat there. The first installment is age limited and non-embeddable, but the other three are below.
Highlights:
Both sides are using he original Maxim belt-fed machine guns, a World War I mainstay “patented in 1883. Timeline-wise this weapon was designed closer to the beginning of the American revolution in 1776 than it was to the current Ukrainian conflict.”
PKM machine guns taken off armored vehicles and converted for individual use. Which is more difficult than it sounds, since the firing mechanism is triggered by an electric solenoid. “They had to rig up an entirely new firing system to rig up to these things, and quickly, and frankly I’m impressed. Ghetto gunsmith to ghetto gunsmith, crisp internet high five.”
Chechen soldiers (assuming there are any of them still around) are better equipped than Russian soldiers.
“You’re seeing all sorts of modern munitions, anti-armor stuff, aircraft drones. But then in the exact same confrontation, you’re also having guys that are carrying around weapons that are so old that their great grandfathers could have easily carried in the Great War to end all wars. And while the reality of war is obviously very tragic, the significance of some of the stuff being used in the field is extremely interesting.”
Highlights:
“Modified mortar RPG rounds…in guerrilla warfare, it’s always useful to have a couple of rednecks around.”
That ridiculous “six antipersonnel grenades attached to an RPG” thing.
“Some poor Ivan got handed a squirrel killer (a Chinese QB-57 single shot air rifle) and was thrown into the middle of 21st century combat with drones and tanks and was told good luck, have fun. It’s no wonder a lot of young Russian men are leaving the country rather than being conscripted…nothing says the government cares about your well-being quite like being tossed into fucking combat with a Red Ryder from A Christmas Story.”
Russia is also using World War II era DPM or DP-28 Degtyarev machine guns. “It’s basically like a PKM, if a PKM wasn’t belt fed and was instead fed by a pizza dish. It’s the closest thing to a full dinner plate most Soviets ever got to see.”
Other World War II era machine guns seeing combat: MP40s, Sturmgewehr (STG) 44s and MG 42s.
“There’s a lot of Russians now rolling around with
[American Thompson] .45 ACP submachine gun, AKA of course the Tommy Gun.” A legacy of Lend-Lease.
Plus: Anti-tank rifles! Including a PTRS-51 chamber in 14.5mm. “I guarantee you that shit will buttfuck the engine of any vehicle ever, as well as probably penetrate some of the light armor on some of the lightly armored armored personnel carriers.”
A suppressed Barrett M107, which is every bit as monstrously long (and no doubt heavy) as you would suspect.
Ukraine is also using everyone’s favorite space-alien looking FPS gun, the FN FS-2000.
Lots of ghetto gunsmithing.
A really funky glider with an RPG-7 on top. It actually looks slightly funkier than the flying yeet of death. Which comes next in the video.
Russians using old-fashioned sporting break action shotguns against drones.
More Maxims, including in duel, triple, and quad mounts. “We’re starting to get in the territory of like those mech things from Matrix Revolutions. [Now] we have something that is basically just a ghetto-rigged Minigun.”
If you’re interested in vintage, weird and improvised weapons, all the videos are worth taking a look at.
More on the collapse of Silicon Valley Bank, Syria gets spicy again, woke companies like Disney are having massive layoffs, and Sig Saur gets into the Killbot business. It’s the Friday LinkSwarm!
Courtesy of Bloomberg’s reporting, it appears that not only were insiders dumping their shares faster than syphilitic hooker, there were loading up on loans from the bank at a scale that makes a mockery of any regulatory oversight…
”
Yes, that’s real.
Loans to officers, directors and principal shareholders, and their related interests, more than tripled from the third quarter last year to $219 million in the final three months of 2022 – a record dollar amount of loans going back over 20 years.
Many questions come to mind – what were the terms, who were the recipients, what was the collateral?
But, sadly, we will likely never know.
However, we do note that the banking execs may be facing a serious shortfall (like their bank): if the loans were collateralized by SVB shares for example, those shares are now worthless, leaving the loan-heavy C-suite left to come up with the cash to repay the loans (and no, these loans don’t disappear with the bank’s liquidation).
Between that and the insider share dumping, people need to go to jail.
After the implosion of the FTX crypto exchange run by Sam Bankman Fried, questions of due diligence and competency immediately arose, suggesting that perhaps the company mishandled assets “accidentally” and that Fried was naive and “in over his head.” Numerous central bank officials and globalist organizations jumped into the debate almost immediately, arguing that FTX was a perfect example of why centralized regulation of crypto and digital currencies was necessary. They claimed that without oversight by banking elites, disaster was inevitable.
Of course, what they did not mention was that FTX and Sam Fried already had extensive connections with globalist groups including the World Economic Forum. In fact, the very basis of Fried’s business model was the WEF’s “Stakeholder Capitalism” theory, which he often referred to as “Effective Altruism.”
Stakeholder Capitalism is essentially the opposite of free markets – It is a socialist/globalist framework which uses corporations as a kind of economic enforcement tool. Corporations are already highly socialistic in their operations, and their existence is completely dependent on their special relationship with government. Corporations are created through government charter, enjoy special protections under “corporate personhood” laws and avoid direct consequences for criminal activities through limited liability.
Many corporations are not even allowed to fail because governments backstop their operations. That’s socialism, not free markets. However, “stakeholder capitalism” expands on this dynamic a hundred-fold.
Where free markets assert that businesses must make profit their primary objective for the overall economy to function, the WEF asserts that companies including banking institutions have a social obligation that goes beyond making money. To the typical leftist this probably sounds like a Utopian vision filled with promise, but to anyone that actually understands economics it sounds like a recipe for the collapse of civilization.
The WEF paints stakeholder capitalism an effort to reign in the power of the corporate system in favor of social causes. In reality, it’s a way to give corporations ultimate power over everything, including ultimate influence over public behavior.
We have seen extensive evidence of this through widespread corporate ESG investment programs implemented in the past several years. It is no coincidence that the invasion of woke ideology into the mainstream happened at the exact same time that ESG-based lending accelerated.
The institutions lending to various companies were able to set social rules for access to credit, and these rules required businesses to adopt far-left politics in their marketing and policies as a result. Stakeholder capitalism is about homogenizing all business into a single ideological entity – Instead of competing with each other for market share through innovation, companies have been abandoning merit based competition and are colluding to saturate the mainstream with social justice cultism, climate change propaganda and globalist rhetoric.
By making corporate elites “responsible” for society, we give them the power to engineer society.
However, the WEF’s model of false altruism is turning out to be a disaster for corporate survival. I have to wonder now if this was the intent all along – To create a kind of ESG fueled woke financial bubble that was always intended to come crashing down, leaving the western world in ruins.
Snip.
Looking into SVB’s operational history, the company was a woke nightmare.
Take a gander at their 66 page ESG report compiled in 2021 to get a sense of how far to the extreme political left the bank was. SVB is the pinnacle example of why “Get Woke, Go Broke” is more than a mantra, it’s a rule.
Digging even deeper we then find that SVB’s leadership was highly involved in the WEF and their Stakeholder Capitalism Metrics (SCM), along with corporate governance. SVB was not only implementing every single policy the WEF outlines in its agenda, they were reporting back to the WEF on their progress.
SVB’s capital exposure was heavily tied up in securities, but also venture capital for woke tech startups, climate change related projects and leftist activist groups which qualified for ESG loans; everything from BLM to Buzzfeed. In other words, they were investing aggressively into money-pit projects that devoured cash and gave nothing back. The real question is, how many US banks are involved in ESG and WEF operations at the same level as SVB? Dozens? Hundreds?
“U.S. Carries Out Airstrikes in Syria after Iranian Drone Kills U.S. Contractor, Wounds Five Service Members.” As I’ve mentioned before the withdrawal of most U.S. troops from Iraq and Syria doesn’t mean all. And the same goes for Africa.
“56% of liberal white women age 18-29 have been diagnosed with a mental health condition.” Well, you already said “liberal”…
Louisiana state Rep. Francis Thompson switched from the Democratic to the Republican Party, given Republicans a super-majority in both houses and thus the ability to override any veto by Democratic Governor John Bel Edwards. ““The push the past several years by Democratic leadership on both the national and state level to support certain issues does not align with those values and principles that are a part of my Christian life,” said Thompson.
World Athletics, the governing body for international track and field competition, has banned men from international competition. “I’ll take ‘Headlines no one in the 20th century would understand’ for $600, Alex.”
“Dallas Bar Cancels All-ages Drag Event.” Funny how the threat of having your TABC license yanked concentrates the mind…
Get Woke, Go Broke Part 1: After a string of expensive bombs and streaming losses, Disney to lay off 7,000 employees.
Get Woke, Go Broke 1.5: “Woke Marvel Producer Victoria Alonso Gone From MCU.” She was one of the central figures pushing Disney to adopt a pro-groomer position in Florida. The ostensible reason for her firing was breach of contract for producing a non-Marvel movie, but a lot of industry insiders think her outspoken wokeness was a key reason for her getting the axe.
Get Woke, Go Broke Part 2: “Twitch Streaming Service To Sack 36% Of Employees.”
SIG Sauer announced late last week it has acquired General Robotics, one of the world’s premier manufacturers of lightweight remote weapon stations and tactical robotics for manned and unmanned platforms as well as anti-drone applications. The companies have been working in concert for some time, a fact made obvious at January’s SHOT Show when they debuted a Polaris ATV equipped with a General Robotics PitBull remote weapons station that aimed and fired the vehicle-mounted SIG MG 338 belt-fed machine gun remotely.
“This acquisition will greatly enhance SIG Sauer’s growing portfolio of advanced weapon systems,” said Ron Cohen, president and CEO of SIG Sauer. The team at General Robotics is leading the way in the development of intuitive, lightweight remote weapon stations with their battle-proven solution.”
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