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We most recently saw this with Twitter, which, up until this weekend, was fighting against Elon Musk’s takeover offer.

Twitter’s Board of Directors famously owns almost no stock in the company. Instead, they receive absurdly generous director fees… which means their incentives are completely misaligned with those of the shareholders.

Unsurprisingly, Twitter’s stock price has gone nowhere. The company loses money, its content policies are a mess, and users are abandoning the platform.

Yet when faced with a takeover bid that would actually benefit shareholders and put real money in people’s pockets, the directors rejected Elon and came up with their own poison pill plan.

Now, Elon Musk is not a corporate raider, i.e. he’s not threatening to shut the company down and sell off its assets. So he does not represent an existential threat to Twitter. This means that the Board already fails the Unocal legal test, which means their poison pill would be easily invalidated in court.

My guess is that they received sobering counsel over the weekend that they had no real legal options to challenge Elon’s bid. So they’ve now changed their tune and have signaled a desire to negotiate.

But it’s still a great example of the Tyranny of the Minority—a tiny, uninvested elite who have the power to decide outcomes for everyone else. And they consistently get it wrong.

This is how government works too. And I’m not talking about elected officials; I’m talking about people like Anthony Fauci, who on Thursday blasted a federal judge for overturning the airline mask mandate.

Fauci told CBS News that the court ruling was “disturbing” because it was “a public health matter. . . not a judicial matter.”

Fauci embodies this “we know better” entrenched mentality; he believes that he shouldn’t be subject to oversight, and that he should be insulated from interference and criticism.

The rest of us peasants shouldn’t be allowed to express a view on the matter. And in a way, he essentially launched his own ‘poison pill’ in 2020 to strip all the other stakeholders, i.e. everyone in the country, of their rights.

Fauci decided that he and he alone should be allowed to decide what is #science and what is misinformation. And he coordinated with the world’s largest tech companies to make sure of it.

Larry Fink is another example; his firm, Blackrock, manages more than $10 trillion in other people’s money, primarily through ‘passive’ exchange traded funds and mutual funds.

Chances are, if you’re one of the millions of people who invested in one of Blackrock’s funds, like the iShares S&P 500 ETF, you never expressly gave Fink the power to vote on your behalf.

But he has seized that power anyhow… and weaponized it to force companies into his reimagined view of woke stakeholder capitalism; he has even bragged that “at Blackrock, we are forcing behaviors” across Corporate America.

This Tyranny of the Minority is growing. The media elites, the top universities, Big Tech—they all wield enormous power. Yet their views and incentives are totally misaligned with everyone else.

Google, for example, recently made changes to its online Docs editor to police your writing and suggest more “inclusive” and often gender-neutral language.

The good news is that it’s easy to fight back. Just stop using them.

Stop investing in Blackrock’s funds (and start exercising your own corporate votes). Stop watching cable news. Stop consuming the products of woke companies who don’t have any backbone. Stop using Big Tech.

After all, there are plenty of alternatives. It costs nothing, for example, to stop using Google’s search engine, and start using Brave Search.

Honestly, if you’re concerned about the Tyranny of the Minority, but you’re not willing to take even the most simple step, you might want to ask yourself how strong your convictions really are.

To your freedom,



Simon Black,
Founder, SovereignMan.com