Are Bankers And Venture Capitalists Really Getting Fleeced By Patagonia?

by MR Magazine Staff

The great fleece freak-out of 2019 — the days of crazed excitement around the idea that Patagonia, the outdoor clothing company, was sticking it to Wall Street and Silicon Valley by refusing to make any more of the branded fleece vests that had become a banker signifier — began, as many confused news cycles do, with a tweet. Binna Kim, an executive with a financial public relations firm, announced: “News — @Patagonia just told us they are no longer doing branded vests for financial services companies.” Instead, it appeared the brand would work only with B corporations (companies certified for environmental and social standards and performance) and companies that were members of the organization One Percent For the Planet — though most readers ignored that part and concluded, as one response went, “This news is the black swan event that will cause the next crisis.” Read more at The New York Times.