Ultimately, corporations, especially Big Tech, were able to take their eye off the ball and dabble in things like woke politics because they had virtually unlimited access to cheap money. From David Stockman at brownstone.org:
New material Musk released over the weekend confirms the very worst. The banal boys and girls previously ensconced in Twitter’s top echelons were not only having a jolly time attempting to steer the nation’s news narrative; these executives were actually meeting weekly with FBI, Homeland Security and national intelligence officials to discuss “disinformation” they wanted removed from the site, including the notorious suppression of the Hunter Biden laptop story.
That’s just one step removed from a state-run Ministry of Truth and is perhaps even more insidious. That’s because it didn’t even involve unwanted and unconstitutional coercion. Instead, the executives of this private enterprise were voluntarily neglecting their day jobs (maximizing corporate profits and shareholder value) in order to spend a huge amount of corporate time and resources propagating official narratives and suppressing dissenting views.
It was as if the Washington powers-that-be had nationalized a multi-billion company, drafting it to propagandize in behalf of their own political and policy agenda and continued tenure in power.
So the question recurs as to why Jack Dorsey, Parag Agrawal, Vijaya Gadde, Yoel Roth and countless more top executives were not attending to corporate “biness”, but instead were ostentatiously moonlighting on behalf of an extra-curricular agenda that had absolutely nothing to do with making money at Twitter.