Thread by @AlexEpstein

I am a big believer that we should not just criticize terrible things but also offer a positive alternative.

So today I am offering a positive alternative to the terrible phenomenon of ESG.

Introducing LVC -- Long-term Value Creation.

THREAD

The primary purpose of a publicly-traded company, according to LVC, is to increase shareholder value by *engaging in long-term value creation*--including mutually-beneficial relationships with one's trading partners and communities, as well as high ethical standards.

ESG says companies should serve "stakeholders"--an overly-broad term that includes committed enemies.

LVC says companies should pursue mutually-beneficial relationships, specifically with trading partners and communities, *in order to serve shareholders.*

ESG prescribes cookie-cutter practices of governance, social relations, and environmental policy.

LVC recognizes that proper practices of governance, social relations, and environmental policy are *highly contextual* to specific industries and companies.

ESG prescribes practices of governance, social relations, and environmental policy that are largely conceived by anti-freedom, anti-capitalist forces seeking quasi-political control over companies.

LVC values and respects freedom and capitalism as essential to value creation.

ESG embraces, under the vague term "diversity," a form of neoracism in which individuals are defined overwhelmingly by their skin color.

LVC embraces "individualism"--the opposite of racism--valuing not skin color but the individual's ability to create value.

ESG embraces, under the vague term "sustainability," the view that freedom, especially energy freedom, is leading us to planetary apocalypse.

LVC embraces "progress," recognizing that freedom, especially energy freedom, leads to ever-increasing human flourishing on this planet.

Companies and investors: stop embracing the irredeemable mess that is ESG and embrace LVC--Long-term Value Creation. It includes everything good that ESG pretends to be, with none of what ESG actually is: anti-freedom, anti-progress, anti-energy, racist.

https://twitter.com/AlexEpstein/status/1402972440490176519