You couldn’t be more wrong.
Dallas Mavericks owner and “Shark Tank” superstar Mark Cuban is a believer that going woke isn’t bad. As a matter of fact, Cuban thinks going woke is actually a solid business move. Um, what?
Bud Light and Target have been hit over their marketing moves for the last few months now, with the most infamous case being Bud Light’s partnership with Dylan Mulvaney. The Anheuser-Busch beer has seen sales plummet, and the beer’s decline doesn’t look like it’s coming to a halt anytime soon. To me, that sounds like a bad business model Bud Light chose, but Cuban … well, he thinks it’s the best thing since sliced bread.
“First a dip in market cap is meaningless. You have to realize that there aren’t many individual owners of stocks — almost all ownership is via funds, and most trading is quantitative. So, it’s not like the drop is because tens of thousands of individual holders sold their stocks,” said Cuban to the Pittsburgh Post-Gazette.
Cuban then referenced major brands’ success as evidence that going woke actually does work.
“There is a reason almost all the top ten market cap companies in the U.S. can be considered ‘woke.’ It’s good business,” said Cuban.
The Mavericks owner seems to think the majority of CEOs believe it’s best to wait out their backlash and be patient until society cares about another issue.
“Most CEOs have enough experience to know to just wait out the news cycle until they go to the next one,” Cuban said.
“There is a reason almost all the top ten market cap companies in the U.S. can be considered ‘woke.’ It’s good business.”
Mark Cuban seems to think going woke is a smart business decision.
Has he not seen what’s happening to Bud Light?https://t.co/NsZ7ustrN4
— OutKick (@Outkick) June 12, 2023