Born in suburban Ohio in 1985, Mr. Ramaswamy grew up “a nerdy Indian kid with glasses, carrying books from class to class.” Peers in his public junior high school didn’t like his attitude—paying attention in class, getting his homework done, being polite to teachers—and “a much bigger kid” pushed him down a stairwell in an act of “anti-achiever” payback. He needed hip surgery after the attack, and his immigrant Hindu parents, fearing for his safety, switched him to a Catholic school. There he was the sole Hindu, yet his uniqueness never felt like isolation.
A self-made multimillionaire who founded a biotech company at 28, Vivek Ramaswamy is every inch the precocious overachiever. He tells me he attended law school while he was in sixth grade. He’s joking, in his own earnest manner. His father, an aircraft engineer at General Electric, had decided to get a law degree at night school. Vivek sat in on the classes with him, so he could keep his dad company on the long car rides to campus and back—a very Indian filial act.
“I was probably the only person my age who’d heard of Antonin Scalia, ” Mr. Ramaswamy, 35, says in a Zoom call from his home in West Chester, Ohio. His father, a political liberal, would often rage on the way home from class about “some Scalia opinion.” Mr. Ramaswamy reckons that this was when he began to form his own political ideas. A libertarian in high school, he switched to being conservative at Harvard in “an act of rebellion” against the politics he found there. That conservatism drove him to step down in January as CEO at Roivant Sciences—the drug-development company that made him rich—and write “Woke, Inc,” a book that takes a scathing look at “corporate America’s social-justice scam.” (It will be published in August.)
Mr. Ramaswamy recently watched the movie “Spotlight,” which tells the story of how reporters at the Boston Globe exposed misconduct (specifically, sexual abuse) by Catholic priests in the early 2000s. “My goal in ‘Woke, Inc.’ is to do the same thing with respect to the Church of Wokeism.” He defines “wokeism” as a creed that has arisen in America in response to the “moral vacuum” created by the ebbing from public life of faith, patriotism and “the identity we derived from hard work.” He argues that notions like “diversity,” “equity,” “inclusion” and “sustainability” have come to take their place.
“Our collective moral insecurities,” Mr. Ramaswamy says, “have left us vulnerable” to the blandishments and propaganda of the new political and corporate elites, who are now locked in a cynical “arranged marriage, where each partner has contempt for the other.” Each side is getting out of the “trade” something it “could not have gotten alone.”
Wokeness entered its union with capitalism in the years following the 2008 financial panic and recession. Mr. Ramaswamy believes that conditions were perfect for the match. “We were—and are—in the midst of the biggest intergenerational wealth transfer in history,” he says. Barack Obama had just been elected the first black president. By the end of the crisis, Americans “were actually pretty jaded with respect to capitalism. Corporations were the bad guys. The old left wanted to take money from corporations and give it to poor people.”
The birth of wokeism was a godsend to corporations, Mr. Ramaswamy says. It helped defang the left. “Wokeism lent a lifeline to the people who were in charge of the big banks. They thought, ‘This stuff is easy!’ ” They applauded diversity and inclusion, appointed token female and minority directors, and “mused about the racially disparate impact of climate change.” So, in Mr. Ramaswamy’s narrative, “a bunch of big banks got together with a bunch of millennials, birthed woke capitalism, and then put Occupy Wall Street up for adoption.” Now, in Mr. Ramaswamy’s tart verdict, “big business makes money by critiquing itself.”
Mr. Ramaswamy regards Klaus Schwab, founder and CEO of the World Economic Forum in Davos, Switzerland, as the “patron saint of wokeism” for his relentless propagation of “stakeholder capitalism”—the view that the unspoken bargain in the grant to corporations of limited liability is that they “must do social good on the side.”
Davos is “the Woke Vatican,” Mr. Ramaswamy says; Al Gore and Larry Fink, CEO of BlackRock, are “its archbishops.” CEOs “further down the chain”—he mentions James Quincey of Coca-Cola, Ed Bastian of Delta, Marc Benioff of Salesforce, John Donahoe of Nike and Alan Jope of Unilever —are its “cardinals.”
Mr. Ramaswamy says that “unlike the investigative ‘Spotlight’ team at the Boston Globe, I’m a whistleblower, not a journalist. But the church analogy holds strong.” He paraphrases a line in the movie: “It takes a village to raise a child, then it takes a village to abuse one. In the case of my book, the child I’m concerned about is American democracy.”
In league with the woke left, corporate America “uses force” as a substitute for open deliberation and debate, Mr. Ramaswamy says. “There’s the sustainability accounting standards board of BlackRock, which effectively demands that in order to win an investment from BlackRock, the largest asset-manager in the world, you must abide by the standards of that board.”
Subscribe to Free “Top 10 Stories” Email
Get the top 10 stories from The Aquila Report in your inbox every Tuesday morning.