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Huh, pretty interesting https://www.follow-this.org/how-it-works/ https://www.follow-this.org/how-it-works/ So you invest in oil companies so you can vote on t
by rdtsc 3y ago
Huh, pretty interesting https://www.follow-this.org/how-it-works/ https://www.follow-this.org/how-it-works/
So you invest in oil companies so you can vote on their board?
But it’s still investing in oil companies and giving them more money. It’s probably legit, but it does feel like a scam.
- megapolitics 3y ago> But it’s still investing in oil companies and giving them more money. Buying shares on the market from third parties does not give the company more money.
- leereeves 3y agoNot immediately, but companies can take advantage of the higher price by issuing stock. For example, GameStop raised over a billion dollars while Redditors were trying to get rich by memeing it to the moon.
- rdtsc 3y agoNot directly but it makes the price go up so the company can raise money easier, issue new shares at the higher price, etc.
- Super_Jambo 3y agoBuying shares in the secondary market isn't directly giving money to the oil company in question.
- bjackman 3y agoThere are also whole ETFs that state a similar purpose: https://etf.tcw.com/ https://etf.tcw.com/ I am also unsure about how to feel about it. I actually bought a bunch of VOTE after it launched [1], I am not sure if this was a good thing to do, but that was not money I was gonna give to charity otherwise (I would have invested it via other "ESG-oriented" systems that I don't entirely trust as being good for the world). [1] https://www.cnbc.com/2021/06/22/underdog-activist-engine-no-1-is-launching-an-etf-after-big-exxon-win.html https://www.cnbc.com/2021/06/22/underdog-activist-engine-no-...