Mark Cuban claims companies like Target, Bud Light going ‘woke’ is just ‘good business’

[Kamaji]

Mark Cuban claims companies like Target, Bud Light going ‘woke’ is just ‘good business’

By Lindsay Kornick, Fox News
June 13, 2023

Billionaire “Shark Tank” star Mark Cuban said companies embracing “woke” ideology is just “good business,” pushing back against those who say it’s adversely affecting their bottom lines.

In an interview with the Pittsburgh Post-Gazette on Sunday, the Dallas Mavericks owner spoke about the ongoing backlash against companies like Anheuser-Busch and the Target Corporation for promoting LGBTQ+ ideologies in their brands.

Since promoting what many consider “woke” agendas, both companies have suffered massive losses worth billions of dollars.

While experts and industry insiders have suggested that invoking politics led to this downturn, Cuban insisted that embracing wokeness is a positive trait.

“There is a reason almost all the top ten market cap companies in the US can be considered ‘woke.’ It’s good business,” he said.

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Source:  https://nypost.com/2023/06/13/mark-cuban-claims-companies-like-target-bud-light-going-woke-is-just-good-business/

[Kamaji]

Since when is losing substantial market share for the sake of a delusional political ideology "good business"?

It's not good business, it's just that, to-date, those of us who don't wallow in perversion have been too passive, and have ignored or overlooked the celebration of perversion in hopes that it would go away - which means that to-date it simply hasn't affected the bottom line.

That hasn't been the case with Bud Light or Target - which is a relatively new phenomenon - and let's hope that it continues to spread.

These companies need to know that it is bad for business.

[GtHawk]

Sounds like Cuban jumped the Shark Tank.

[roamer_1]

In order for stocks to matter, you have to make something and sell something.
If you can't make and move product, your standing in the market ain't going to matter very long.

Business is getting a very personal wake up call
And a jerk back to first principles:

Rule number one: The customer is always right. They're getting a dose of that through a fire hose.
Rule number two has yet to come: The Stockholders' will will prevail.
Stay tuned.

[ScottinVA]

Cuban is an anti-American turd who deserves no attention.  He’s the one who in 2004 co-produced “Redacted,” a propaganda hit piece that summarily attacked our Service members in Iraq as rapists and murderers.

[DefiantMassRINO]

Bud Light would disagree.  Even Clydesdale horses, Harley-Davidson motorcycles, and insecere waving of the American flag can't help those bastids now.

The number one selling beer brand in America is now Modelo.

Great going Bud, you just Schlitz'ed yourself and your shareholders.  You will be in the "what not to do" marketing case study books, right next to New Coke.

[roamer_1]

Bud Light would disagree.  Even Clydesdale horses, Harley-Davidson motorcycles, and insecere waving of the American flag can't help those bastids now.

The number one selling beer brand in America is now Modelo.

Great going Bud, you just Schlitz'ed yourself and your shareholders.  You will be in the "what not to do" marketing case study books, right next to New Coke.

The first time EVER, and by a long ways, in twenty two years. That's HUGE. Ground-shaking.

[mountaineer]

Good business, huh.

The financial toll of right-wing backlash: At least $28B in market value
Javier E. David
June 16, 2023

Social issues are creating a market downdraft for America's mainstay brands — just ask Target, Anheuser Busch, Kohl's and their collective $28.7 billion loss in market value since the beginning of April.

Why it matters: Fiercely contested cultural issues have always aroused political passions, and held sway over electoral politics.

    *Yet Corporate America is finding itself trapped between society's progressive impulses, and the conservative backlash.
    *Reactions and counter-offensives against all things "woke" mean companies can find themselves in the crosshairs anytime, and they can't predict the fallout.

Driving the news: Anheuser-Busch InBev is still feeling the reverberations of its April decision to engage transgender social-media influencer Dylan Mulvaney. Boycotts have come at a cost to both its stock and beer sales.

    *The controversy has shaved billions off its market capitalization amid a 20% swoon in its stock (it's since recovered, but sits well below the 52-week high it hit in March).
    *This week, NielsenIQ data from consulting firm Bump Williams showed Bud Light losing its perch as America's most imbibed brew to Constellation Brands' Modelo.

Separately, both Kohl's and Target have been caught in the cultural maelstrom for selling LGBTQ-themed clothing, with right-leaning protests pressuring their stock prices. ...

The bottom line: The largely symbolic gestures companies show during Pride Month are morphing into business and financial risk, with reaction from the left and right leading to unpredictable companies. And no company is safe from the ricochet.

Axios

   

[Free Vulcan]

Never ceases to amaze me of the hubris of the upper crust elite. They literally think that uttering words creates reality.

The numbers don't lie, and going woke meets no definition of good business.

They want to tear it all down and rebuild in their image (with most of us gone), I'm happy to give them help by destroying their woke corporate money machines.