As we approach Father’s Day, a surprising development may bring good news to American fathers. There are signs that the “awakening bubble” is nearing the point of bursting.
Last week, CNN reported on changes in the beer market. Modelo took over Bud Light as America’s best-selling beer, ending Bud Light’s 20-year reign. This shift, among other things, reflects a large-scale consumer rebellion at work.
ESG (Environmental, Social and Governance) scoring systems have been touted as the new frontier of socially conscious business practices for years. It’s a bright, glowing object that began before the concept of “B Corporation” even existed. Companies certified by groups such as B Labs to meet certain standards of social and environmental performance, accountability and transparency. (Related: Bob Erlich: It’s Not a “Both Sides” Problem — Only One Party Is Completely Insane)
As was the case with Bud Light, there is growing evidence that all this awakening jumped over the shark and exceeded its welcome. Many companies that have prioritized ESG and DEI (diversity, equity and inclusion) values are starting to face an economic backlash.
Consider Starbucks, for example. Once the pride of downtown Seattle, the coffee giant became a national district several generations ago and is now just one company participating in a never-ending public “war” with workers and unions.
Coffee companies and their unions are arguing over the scope of Starbucks’ Pride displays. Did Starbucks really start pulling back on the displays, as the unions claim, or was this just a vehicle for unions to attack companies? Swaying from the awakening chandelier.
Starbucks is also seeking a $25.6 million settlement with a woman who claims she was fired for being white. A jury ruled in favor of the woman last week.
A month ago, a woman who worked at an upscale gym said she was fired for being black. Her jury awarded her $11.5 million in damages.
ESG and DEI cultural norms seem to create a cannibalistic cycle in which companies, employees, investors and stakeholders are in constant conflict over what constitutes “enough” arousal.
The trajectory of this “bubble awakening” resembles the cycle of a typical corporate bubble. It starts subtly as early adopters seize the opportunity. Institutional investors soon followed suit, creating intrigue and building perceived value. As public awareness rises, so does the bubble, and the value swells beyond the sustainable range. Eventually the bubble burst, causing rapid investment deprivation and leaving a trail of economic losses.
The “awakened bubble” seems to be on the brink of this final stage. Wake is about to crash.
Geography of Transportation Systems / Suzanne Downing
Recently, S&P Global Ratings announced it would increase Philip Morris International’s ESG rating from 60 to 62 on a scale of 1 to 100.
Meanwhile, electric vehicle leader Tesla scored a disappointing 37. This was after it was completely removed from his ESG ratings the previous year.
Does S&P Global Ratings rank cigarette brands higher in size than electric cars? This is just further evidence that the awakening bubble has reached maximum inflation.
Target and Bud Light suffered significant combined market losses of $28 billion by the end of May, just as Pride Month began. Both companies are in a state of panic. The company’s next quarterly shareholder meeting in August will announce second-quarter results, and smart shareholders may ask uncomfortable questions.
Meanwhile, in the energy sector, giants such as Exxon, Shell and BP have begun to scale back their commitments to climate change.
They are facing a daunting reality. A shift to non-petroleum energy sources by 2030 and even 2050 could have severe global consequences, including social disruption and widespread food insecurity, especially in poorer countries. (Related: John Stossel: Florida’s Anti-Awakening Campus Campaigners Own Liberty, But They’re Overstepping It)
Shell, for example, made headlines last year when then-CEO Ben van Buuden announced an ambitious goal to reach net-zero emissions by 2050. But now, under new leadership, the oil and gas giant is withdrawing from that pledge.
While the coffee, consumer goods and energy sectors are taking a hit, even America’s children are witnessing a waking challenge for what it is. They found the emperor undressed.
In Burlington, Massachusetts, middle school students organized a protest against forced participation in Pride Month activities, expressing their dissatisfaction with a resounding slogan, “Their name is ‘USA.'”
The signs are all there. Americans are getting fed up with the use of coercive pronouns, aggressive virtue signaling, and corporations that take advantage of social issues. Backlash isn’t just about consumer behavior. It is a national resistance to the deconstruction of the strong values that have built America.
We are witnessing the ultimate pump and dump. Excessive inflation in the “Arousal Index” suggests an imminent crash is on the horizon.
Suzanne Downing is the publisher of “Must Read Alaska”.
The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.
All content produced by the Daily Caller News Foundation, an independent, non-partisan news distribution service, is available free of charge to legitimate news publishers capable of serving large audiences. All reissues must include our company logo, press byline, and DCNF affiliation. If you have any questions about our guidelines or partnering with us, please contact us at licensing@dailycallernewsfoundation.org.
