Bud Light's Collapse in Beer Sales in One Chart
ESG is particularly pernicious form of “stakeholder capitalism.”
I recently wrote an article in The Washington Examiner about the strange new phenomenon of beer companies going woke.
As I noted, I miss the days of commercials featuring Bob Uecker masquerading as Rodney Dangerfield at costume parties.
To understand why beer companies are suddenly courting controversial issues like transgenderism, third-wave feminism, and nonbinary gender instead of making funny commercials like this one that actually appeal to their consumer base, read that article.
But if you want a great visualization of what Bud Light has done by angering (and insulting) its own consumer base, look no further than the tweet below, which comes courtesy of Phil Kerpen and The Wall Street Journal.
I actually feel bad for companies like Bud Light to some extent, because they are only catering to their ESG (environmental, social, and governance) overlords.
ESG is particularly pernicious form of “stakeholder capitalism” that needs to be dismantled. And later this week, I’ll explain why ESG is anti-capitalist at it roots.
That is some brutal data. I am totally against ESG for a whole lot of moral and rational reasons, but I also think its possible in many cases to engage in ESG practices without actively alienating your customers and destroying your business. If a company is smart and strategic (and isn't careless and fall for the magical thinking embedded in ESG) I believe it can be done. If one is forced into complying with it.
The irony about the ESG rating companies is just how "diverse" are they? I didn't have a say in how their ratings work. Many the need to be more open.