In recent years, the phrase “go woke and go broke” has become increasingly relevant and Disney seems to have learned this lesson the hard way. The company’s pursuit of various agendas has come at a cost to both the company itself and its shareholders. With the recent backlash against Disney and a slowing down of diversity, equity, and inclusion efforts in many companies, it’s clear that there are consequences to prioritizing certain social and political ideologies over the interests of the business.
The Downward Spiral
Disney’s stock price tells a compelling story. In March of 2021, the company was selling at a high of $201.91 per share. Fast forward to the present, and the share price has plummeted to $95. This significant decrease can largely be attributed to Disney’s self-imposed injury of jumping on the woke bandwagon. The company believed that embracing woke culture would lead to financial success, but they failed to consider the potential backlash from their core audience.
When children walk into a Disney store, they expect to see the beloved characters they know and love. However, the introduction of forced diversity and other woke ideologies has sometimes led to confusing or even unsettling experiences for young fans. Seeing the Fairy Godmother with a mustache, for example, can be jarring and may affect a child’s perception of the Disney brand.
Misguided Assumptions
Disney’s attempt to appeal to markets like China and Russia by pushing woke narratives was ill-conceived. These countries have different cultural values and may not resonate with the ideologies pushed by the company. As a result, Disney’s downward spiral in the stock market is well-deserved, as their assumptions about global acceptance of wokeness have proven to be misguided.
Defining Woke
For those who may be unfamiliar with the term, “woke” refers to a particular ideology that sees everything through the lens of power dynamics, oppressor versus oppressed. It encompasses concepts such as diversity, equity, and inclusion, but it often comes at the expense of other important considerations, such as individual enjoyment and the core mission of a company. When companies prioritize woke ideologies over their core principles, they risk alienating their customer base and losing sight of what made them successful in the first place.
Disney’s recent struggles serve as a cautionary tale for other companies. Prioritizing the demands of consultants and race hustlers over the interests of shareholders and customers can lead to a divided company and a decline in profitability. The people driving the diversity, equity, and inclusion agenda often fail to apply the same principles to their own personal pursuits, highlighting their hypocrisy.
Conclusion
Disney’s experience with wokeness should serve as a wake-up call for companies that are considering embracing similar ideologies. It’s essential to consider the potential consequences and backlash before jumping on the bandwagon. Prioritizing profit-seeking and competitiveness over divisive ideologies is crucial for the long-term success of any business.