The Reason Interview With Nick Gillespie

Charles Gasparino: 'Woke' Hypocrisy Is Hurting Businesses

Aug 14, 2024

Charles Gasparino, a senior correspondent for Fox Business Network and columnist for the New York Post, dives deep into corporate America's pitfalls in his latest discussion. He critiques major brands like Anheuser-Busch, Disney, and Target for being distracted by 'woke' initiatives, risking customer loyalty and profits. Gasparino argues that social responsibility should align with business success, using examples like Ed Rensi's effective leadership. He also explores the potential economic impacts of the upcoming 2024 elections.

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Intro

00:00 • 3min

Consumer Culture and Corporate Ethics

02:55 • 6min

The Evolution of Anheuser-Busch: Nostalgia to Inclusivity

09:23 • 13min

The Consequences of Banking Bailouts and Moral Hazard

22:30 • 2min

Budweiser's Brand Dilemma: Navigating ESG and Public Relations

24:09 • 8min

The Effects of Socially Conscious Consumption on Brand Longevity

32:15 • 3min

Disney's Transformation and Corporate Wokeness

35:31 • 16min

The Evolution of BlackRock: From Risk to Responsibility

51:17 • 9min

Inflation, Leadership, and Political Dynamics

01:00:29 • 18min

Charles Gasparino is a senior correspondent for the Fox Business Network and a columnist for the New York Post. He's also the author of the new book Go Woke, Go Broke: The Inside Story of the Radicalization of Corporate America. Gasparino analyzes major missteps by companies such as Anheuser-Busch, Target, and Disney and explores how CEOs and top management become entranced by things like stakeholder capitalism; diversity, equity, and inclusion programs; and environmental, social, and governance plans to the detriment of customer satisfaction, public relations, and the bottom line.

Four years out from the COVID-19 pandemic and the death of George Floyd, Gasparino talks with Reason's Nick Gillespie about whether peak woke has ended and why he views people like Ed Rensi, the former head of McDonald's, as models for how businesses can make profits while being socially responsible. They also discuss how the 2024 election will impact the economy.

0:00—Introduction

1:12—The origins of Gasparino's book, Go Woke Go Broke

9:24—Bud Light X Dylan Mulvaney controversy

18:05—Corporate wokeness started with CEOs

25:06—Trump-world tried to save Bud Light

31:35—Ben & Jerry's pioneered corporate political activism

33:13—Wokeness at Disney

45:22—Does wokeness sell?

47:28—Where is the corporate advocacy for Uyghurs?

49:36—BlackRock, Larry Fink & ESG

59:00—How ESG worsened inflation

1:00:56—Ed Rensi's innovative interventions

1:05:52—Corporate wokeness is in recession

1:07:30—CEOs against campus wokeness

1:10:00—Would Donald Trump or Kamala Harris be worse for the economy?

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The Reason Speakeasy. The Reason Speakeasy is a monthly, unscripted conversation in New York City with outspoken defenders of free thinking and heterodoxy that doubles as a live taping of The Reason Interview With Nick Gillespie. The next event is scheduled for Wednesday, September 11, and features Fox News' Kat Timpf, whose new book is I Used To Like You Until…(How Binary Thinking Divides Us). Tickets are $15 and include beer, wine, soft drinks, and food. Go here for details.

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