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.

Despite possessing immense wealth that provides insulation ('F You money'), many business leaders avoid criticizing the administration. They fear becoming a target, a risk that ordinary citizens like activist Renee Good take while billionaires do not.

While sometimes viewed as ineffective, trade associations serve a critical function by allowing CEOs to take political stances in aggregate. This collective voice provides a shield against the individual targeting and retribution that solo actors might face.

Bozoma Saint John argues that modern audiences expect corporate leaders to have and express a point of view on important issues. Avoiding a stance to prevent risk is no longer an option. Taking a stand and dealing with potential backlash is now an integral part of an executive's job.

CEOs remain silent on controversial political issues not out of agreement, but because they operate in silos. Their boards advise them to avoid individual conflict with Trump. This fear of being singled out prevents the collective action that would effectively counter authoritarian pressure.

Top tech leaders are aligning with the Trump administration not out of ideological conviction, but from a mix of FOMO and fear. In a transactional and unpredictable political climate, sticking together is a short-term strategy to avoid being individually targeted or losing a competitive edge.

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.

When Harley-Davidson's CEO acted alone against tariffs, the president's targeted criticism tanked the stock, leading to the CEO's dismissal. This serves as a stark warning that collective action is essential protection against political backlash.