Charles Gasparino: 'Woke' Hypocrisy Is Hurting Businesses

The business journalist discusses his new book Go Woke, Go Broke and how CEOs accelerated corporate political activism only to regret its impact on the economy.

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Charles Gasparino: 'Woke' Hypocrisy Is Hurting Businesses

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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.

• Video Editor: Ian Keyser