Is The DEI Pushback Being Dragged? This Critic Thinks So

by Sharelle Burt

January 17, 2025

When it doesn’t effect you, its looked at as “exaggerated.”

James Fishback, co-creator of a fund that punishes corporations with diversity, equity and inclusion (DEI) initiativessays that the response to DEI pushback is being exaggerated, MarketWatch reported.

First garnering headlines due to a lawsuit over his previous title of “head of macro” at Greenlight Capital, Fishback has grabbed more attention by cozying up to the conservative political movement and his attack on DEI initiatives. He feels the GOP pushback hasn’t really stopped companies as it’s being relayed. “The death of DEI is greatly exaggerated. Most companies are merely pulling back their ‘performative DEI’ policies like funding Pride Parades or using Latinx to refer to people like my mom,” Fishback, the co-founder and chief investment officer of Azoria Partners, said.

“What they’re not doing is eliminating the anti-meritocratic DEI hiring quotas that continue to hold back companies like Nike, Kraft Heinz and Best Buy.”

He continued by saying more S&P 500 companies have DEI quotas today than they did in 2020, which he calls “a huge problem that is not going to solve itself.” His firm lives and breathes on finding companies that have DEI initiatives within their hiring protocols. Once identified, the firm contacts the corporation and gives them 48 hours to make corrections in order to be removed from a list of restricted organizations.

Fishback’s other targets include the newly developed Department of Government Efficiency, led by tech billionaire Elon Musk and failed presidential candidate Vivek Ramaswamy. The fund manager claims the department is more about a deregulatory agenda that Trump can’t initially implement without Congress over budget savings. He also has his eyes on a political run for the state of Florida, eyeing a campaign to take over Sen. Marco Rubio’s seat, as he now holds the title of incoming Secretary of State.

During his anti-woke and anti-DEI run, Fishback has targeted major corporations like Starbucks, but a number of long-time DEI loyalist companies like Walmart are being encouraged not to give in to “bullying” tactics from anti-DEI groups.

According to CBS News, a number of shareholders representing $266 billion in assets, including Amalgamated Bank and Dominican Sisters of Grand Rapids, wrote a letter to Walmart’s CEO Doug McMillon expressing concern over “seeing our company give in to bullying and pressure from anti-DEI groups.” Seeing the company retreat from its stated values and the business opportunities associated with a diverse and inclusive workforce is very disheartening,” the investors wrote.

“Additionally, Walmart has not offered a financial or business case for this change in policy.”

After the retail giant abandoned its DEI initiatives in November 2024, the letter follows similar actions from a group of 14 attorneys general voicing concerns.

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