More Proof That Woke Capital Is A Scam
A company that specialized in “diversity hiring” is on the verge of collapse after the CEO admitted she defrauded investors. Joonko founder and CEO Ilit Raz resigned after an internal investigation revealed the fraudulent scheme.
From The Blaze:
The CEO of an artificial intelligence diversity hiring firm agreed to step down after an internal investigation found that she conducted a “fraudulent” scheme that raised millions by misleading investors.
Joonko is a “diversity recruiting” company that aims to connect “high quality, underrepresented talent, with world-class companies that care about diversity, equity, and inclusion,” according to the firm’s website, which appears to have been taken offline Tuesday.
The company was founded by CEO Ilit Raz in 2016, who wanted to “improve the lives of women, minorities, and veterans in the workplace” following her own hiring experiences “in a male-dominated industry,” an archived version of Joonko’s website stated.
The company utilizes “AI-powered skills-based matching” to connect companies with “diverse and underrepresented” talent. Joonko’s website stated that it has partnered with companies including Adidas, Nike, Intuit, PayPal, and American Express.
The firm is now on the verge of collapse after an internal investigation discovered that Raz allegedly lied to investors about the size of the firm’s business to raise millions.
It should not be a surprise that yet another “woke” company is getting ready to go down. It is also ironic that fraud is an issue here. In reality, the whole “woke capital” movement is one big fraud.
There are ESG banking guidelines that appear to take into account anything and everything except what makes a company profitable. These investment and banking guidelines are only propped up by a politically-connected cartel in banking. If these guidelines had to survive in the marketplace without political backing, no one would adhere to them.
There is also the whole industry of diversity speakers who get thousands and tens of thousands to consult and speak for companies. Does anyone think these people actually contribute anything of value? This is one big money laundering scheme and it should anger shareholders and investors in these companies.
It is no surprise this CEO exaggerated the amount of business this company was doing. Everybody is all for diversity in theory but the reality is “woke capital” is a fraud with little actual support.
This company going out of business is another example of the market correcting itself. The rest of the “woke” industry will follow suit.
