The January 6 anniversary must not pass without comment

I was tempted—as were many business leaders—to let the January 6 anniversary pass without comment. The political and media conversations around the U.S. Capitol attack have become predictable and unsatisfying. The vast majority of Republicans have chosen to protect a narrative that they know to be untrue because they see it as their only chance of regaining power. And leading Democrats are clinging to the issue as if it were a cudgel, hoping it will overpower their failure to enact their policy agenda. My sympathies are only with the small band of Republicans who have chosen to put their allegiance to the Constitution over their political interest. But my sympathies will not get them reelected.

I was knocked out of complacency yesterday, however, by two comments from people whose views I respect. The first came from Ray Dalio, who since leaving the helm of his hedge fund Bridgewater has become an amateur historian. (As Robert Harris has said: “History is too important to be left to historians.”) Dalio’s schtick is to analyze past patterns and use them to try and make sense of the future. And his analysis of recent U.S. Political trends has led him to conclude:

“There is an uncomfortably high probability that neither side will accept losing the 2024 elections. If that were to happen, rule of law and the constitution will be less influential than raw power. Imagine what that would mean for America as we know it.”

And then there’s this comment from Thomas Friedman of the New York Times in yesterday’s column, where he asks: Who will save us?:

“I think our last, best hope is the leadership of the U.S. Business community… Collectively, they are the only responsible force left with real leverage on Trump and Republican lawmakers doing his bidding.”

I’m sympathetic to both sentiments—that we are barreling towards a crisis of democracy (if not already there), and that business leadership is key to solving it. But the solution is not simple, or clear. Business leaders should certainly stand up for truth and the Constitution. But in the process, they can hardly be expected to bind themselves inextricably to the other party, which is increasingly hostile to their interests.

Friedman suggests a way forward by saying business leaders should refuse to donate to any candidate who “has voted to dismantle the police” or “voted to dismantle the Constitution”—setting a line of demarcation on both sides of the political spectrum. I’m not sure that quite cuts the mustard. But I agree the moment is ripe for the nation’s top business leaders to earn their spurs by crafting a clear and consistent message on an issue that could prove critical to their survival…and to ours.

More news below. And if you are missing CES this week, read Chris Morris’ piece on five useful new tools for remote workers that were on display there.

Alan Murray
@alansmurray
[email protected]

TOP NEWS

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China real estate

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AROUND THE WATER COOLER

Larry Fink

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Crypto crash

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GameStop NFTs

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CEO pleas

Yale's Jeffrey Sonnenfeld and Steven Tian would like Meta's Mark Zuckerberg, Activision Blizzard's Bobby Kotick, Robinhood's Vlad Tenev, Fox Corp's Lachlan Murdoch, and Ark Invest's Cathy Wood to answer some questions about "much needed 2022 improvements or mea culpas." Coins2Day