Summarised by Centrist
A recent letter from at least 19 US activist organisations, including the NAACP and National Organization for Women, begs corporations to keep Diversity, Equity, and Inclusion (DEI) programmes alive, insisting DEI is good business sense. But, companies’ customers and shareholders literally aren’t buying it anymore.
Big names like Meta, Google, and dozens of others have quietly begun slashing their DEI budgets.
Why?
First, the flood of easy money dried up when central banks hiked interest rates and cut off ESG (Environmental, Social, and Governance) cash.
Secondly, consumers have spoken—with their wallets. Boycotts of woke products, from Bud Light to Star Wars, showed that DEI just doesn’t sell. Lastly, legal risks are mounting as DEI hiring practices face accusations of anti-white and anti-straight prejudice, forcing companies to rethink the wisdom of these initiatives.
According to Tyler Durden (a pseudonym) of ZeroHedge:
“If there was a market for DEI then it wouldn’t matter if conservatives were boycotting these companies. If woke activists were anything other than an insignificant portion of the population then they would be buying up woke products like crazy and proving conservatives wrong. But, they don’t because they can’t.”
The corporate world is realising that going woke might indeed mean going broke.
