Overview
Get Woke, Go Broke is a phrase coined by the bestselling author John Ringo expressing his opinion that when companies or organizations go woke with politically correct ad campaigns and slogans result in a massive loss of income.
A Closer Look
Target is the most recent of companies to see this effect. Since May 2023, Target Stock has continued to plummet. This began with the tuck-friendly swimsuits and children’s’ clothing line which was created by a gay Satanist for the stores Pride month collection. The stock is at its lowest since August 2020. Some news media reported that the stock is on a losing streak because of the US economy.
Let’s not forget the Bud Light debacle. Sales of Bud Light dropped from 24.6% and 9.2%; Disney cut 7,000 jobs because of declining revenue amid backlash to its woke agenda, and even the ultra conservative Chick-fil-A has found itself on the receiving end of calls for boycotts.
These boycotts can be found on both sides of the political spectrum.
A new Treasury Advisory Committee was created March 2022. This 25-member body does not have actual policy making authority rather it recommends ways that the federal government could potentially rectify economic racial inequalities. The group is chaired by Michael Nutter, formerly the mayor of Philadelphia and now a professor at Columbia University.
Supporters argue that, as per the bill’s title, an excessive effort on left-leaning woke policies is often bad for business. A press release stated that hard-earned taxpayers’ dollars are being spent to promote the current administrations exclusionary ideology and stated that Washington has turned a blind eye to the failure of woke businesses and banks in the private sector.
This past April Congressman Andy Ogles (TN-05) introduced the Go Woke, Go Broke Act, which would eliminate the Treasury Department’s Advisory Committee on Racial Equity and prevent the Treasury from re-establishing a similar. This legislation would eliminate the 25-member committee on racial equity, stating that Americans deserve a focus on enacting sound fiscal policy, not diversity quotas.
Conclusion
In conclusion, it is not that most Americans are against the love-who-you-want or worship-who-you-will opinion, rather it is that consumers have had it with corporate America trying to shove perceived common beliefs down their throats. Companies need to understand their target market. People now act fast when they see companies going woke in ways that seem pernicious to their values.
[Author’s Note: This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: CF.org; BBC News; ogles.house.gov.]
