Corporate America is beginning to look a lot like lemmings walking towards the metaphorical cliff.
No matter how many companies see the fatal kickback of consumers, they continue to push the woke agenda.
And Kevin O’Leary just commented on the collapse of the corporations he tried to warn about going woke.
Kevin O’Leary calls Bud Light controversy a “case study on what not to do”
Kevin O’Leary, also known as “Mr. Wonderful” on the hit show Shark Tank, is a successful venture capitalist known for investing in the right companies at the right time. The prominent businessman has been a national icon for helping start-up companies compete in difficult-to-enter marketplaces.
O’Leary went on One Nation with Brian Kilmeade in April and discussed the impact that woke ideology is having on companies. During the interview, he put a heavy emphasis on staying out of politics and away from divisive topics.
He was responding to the Bud Light boycott that began when the brand sponsored a transgender influencer on social media. He said this was a “case study on what not to do” and noted that using social media to promote your brand can cut both ways if you put out a bad advertisement.
He said that CEOs were learning “don’t get into politics.”
Companies like Disney need customers from both sides of the political spectrum to be successful
O’Leary said companies should focus on pushing for policy changes, but warned them not to wade into political warfare. “The minute you start attacking a politician or their voting base, you run huge risks, and you’re going to make half of your base of consumers unhappy,” he said.
“Disney needs Red and Blue families to come to their theme parks. It doesn’t matter politics—you’re raising children, you should have your own politics within your family—but you don’t want to decide that you’re going for or against a politician,” he warned.
O’Leary said “stick with policy and stay out of trouble” is the only message that major investment firms should be keeping in mind. He said that is what he tells companies he invests in, “I say don’t get me involved in politics, get me involved in policy.”
Now, almost two months later, O’Leary is commenting on another woke brand—Target.
O’Leary implies that Target lost “control of the message” spreading about the brand online
Target is the most recent brand to face significant backlash from users online. He said companies don’t understand the impact social media can have on their brand.
He suggested that companies should consider incorporating communications at a board level because many of the members don’t even use social media. “We need a communications/media committee to advise” members of the board who don’t understand the implication of online platforms.
O’Leary also said he understands that companies “want to show their support of diversity,” but “from the perspective of an investor, maybe they’re losing their way in terms of what the prime objective is: your customers, your employees, and your shareholders.”
But he predicted that the “stunning collapse” of Target’s stock price will change the way companies are approaching their marketing.
Patriot Political will keep you up-to-date on any developments to this ongoing story.
