Corporate leaders often justify their silence on threats to democracy by citing shareholder value. This is a fallacy, as they have a history of criticizing presidents on policy. Their silence is more accurately a fear-based calculation that creates a path of zero resistance for authoritarianism.

When CEOs face pressure to speak on political issues, acting as a unified group, like the 69 Minnesota CEOs did, provides safety in numbers. A coalition is harder for political actors to single out and punish than an individual executive.

Political and social climates are prone to volatile swings. Instead of reacting to short-term trends (e.g., DEI focus vs. rollback), leaders should define their company by core principles that will remain true in two decades. This provides stability and authenticity, making everything else just a fleeting trend.

Wikipedia co-founder Jimmy Wales advises leaders to be careful about taking political stands. The guiding principle should be direct business relevance. Wikipedia fights censorship because it's core to their mission, but avoids weighing in on unrelated topics. This strategy prevents alienating customers for no strategic purpose.

Patagonia avoids performative activism by only speaking out on issues where it has deep-seated authenticity (business and environment) and can be genuinely additive to the conversation. This strategic filter helps them navigate when to engage and when to stay silent.

True corporate values are steadfast principles that guide a company regardless of the political or social climate. Values that are easily discarded when they become controversial are not core values but rather branding exercises. This inauthenticity risks significant consumer backlash when exposed.

A company’s true values aren't in its mission statement, but in its operational systems. Good intentions are meaningless without supporting structures. What an organization truly values is revealed by its compensation systems, promotion decisions, and which behaviors are publicly celebrated and honored.

Reid Hoffman pushes back on the idea that business leaders should stay silent on political issues to avoid risk. He argues that feeling fear is the precise indicator that courage is required, and leaders have a responsibility commensurate with their power to speak up for society.

Reflecting on his own experiences, Elon Musk advises business leaders to stay out of politics. He concludes that engaging in the political arena is a 'blood sport' where opponents 'go for the jugular,' and that his conclusion is to do less of it.