Stephen Curry’s venture firm, Penny Jar Capital, is under fire for investing millions in Zafran Security and Upwind, cybersecurity startups founded by veterans of elite ‘Israeli’ military intelligence units like Unit 8200.
Critics argue these investments—totaling hundreds of millions in funding rounds—conflict with Curry’s role as an NBA social justice champion, accusing the firms of supporting a “digital architecture” used in military surveillance and actions in Gaza.
Why do so many rich people seem to have little to no morals. This, Lebron with Hong Kong, LIV Golf. How much money do these people need SMH.
I would say generally the problem is the structure of capitalism is immmoral; if you looked at the investments of anyone who has a 401k, there is awful shit companies doing horrific things that go against the need and interests of the person who owns the 401k that they are likely unaware of or at best hold their nose at because it’s part of a bundle of investments or an index fund like the s&p500.
None of that excuses the effects of providing funding, but it’s systematic; rich people just have more money to invest in largely the same system The rich might potentially have better access to those who could help then understand their options but many likely outsource their investment choices to someone with the mandate simply to “responsibly manage” their funds, which for most people unfortunately means to maximize the return. Someone like Steph ostensibly doesn’t want to be funding genocide but unless you are hands on reviewing every opportunity, screening every company, etc. it’s little surprise that Joe schmoe int heir 401k or Shaq in his burger franchises supports horrible outcomes for employees, consumers, or those in other countries.
No excuses for the responsibility any of us bear, and perhaps it’s fair to hold the very wealthy that much more accountable with the opportunities and resources they have to make more informed or deliberate decisions but at the end of the day they are part of an amoral, supremely corrupted system that has been twisted horrifically to be even worse than it need be with no sign of slowing.
The rich don’t deserve any sympathy but they’re not really much different(other than scale) than anyone else in supporting an inhuman system.
Investing for retirement is way different than owning a venture capital firm. Steph doesn’t need more money, nor does Lebron, nor do those golfers. It’s not about capitalism or lack if money, the problem is lack of backbone. Again, how much money do these people need before they stop making decisions based on money?
I’d challenge that idea if you’re trying to pass a moral judgement. It’s no less wrong or immoral to uncaringly invest in companies that do horrible things for ones retirement in a 401k than it is in invest uncaringly in companies that do horrible things for VC, starting a new business or any other investment decision. We all bear responsibility for the effects of our own decisions, whether small in scale or large. Whether small or large investments, if we all took care and interest and time to receive and made changes where we see immorality, the world would be better for it.
Who gets to draw the line between those who are just “retiring” and bear no responsibility for the effects of their investments and those who are so wealthy they should? Who gets to decide what that amount threshold is? You? Why wouldn’t everyone be held to the principle if you’re making a judgement based on morality? Gets to be a very slippery and subjective slope otherwise.
If a person gave a company money to invest for their retirement they can look into the investment company itself but its unreasonable for them to look into every company they invest in. Normal people generally don’t have time to check new investments that company makes everyday. Once an individual is made aware of their money being invested into immoral companies then its their responsible to act.
That’s a quote from their website, see the difference? Steph didn’t just give someone money to invest and they did something without his knowledge.
How do you think they became rich in the first place?
By playing sports really well. There’s nothing morally wrong with that lol
The amount of people that have gotten rich from sports is infinitesimally small compared to the total of rich people that exist. Yes, Playing sports well doesn’t equate to being morally wrong or right. I’m gonna assume the question wasn’t directed at only that tiny group of people.
I will add that, in the vast majority of cases, people don’t invest money morally.
It was lol. That’s what the post is about and all the examples I gave are also sports related.
That seems kind of silly then. The entertainment industry has been rife with immorality forever. Sports players are literally selling their bodies to the highest bidder. It honestly makes sense a player would employ a company/person to get every dollar possible. NBA in particular is selling itself to the gambling industry. They aren’t exactly creating a moral refuge.
The idea of investing morally is minority concept and is honestly at odds with the whole modern capitalist idea of investment.
They literally are not lol. He didn’t hire someone, he owns the company. If he hired someone he’d have plausible deniability.
Hiding behind “capitalism made me do it” is the silliest thing I’ve heard in a while lmao
Neither of your responses are negating any of my points. Imagine believing the owner of a company makes or even vets all decisions. I don’t even understand your second response. There’s no morality in capitalism. Doubly so for a passive investment.
Shame anyone you want for their hypocrisy. Just don’t believe for a second that sports players somehow have a higher, let alone equivocal, morality than the layman. But, as stated in a comment below much better than I’ve been able to articulate, investments aren’t moral for anyone. Rich, sports players aren’t on some pedestal.
My point is that these athletes have made enough money to the point where lack of money will never be an issue for them. Steph does not need to invest money in companies involved in apartheid and genocide, if he can’t start a company without giving money to people involved with apartheid and genocide then don’t start thre company. I don’t see what’s contraversal or hard to understand about that?