Vivek Ramaswamy and Mark Cuban clash on ‘Woke’ capitalism.

Presidential Candidate Warns Corporations About “Woke” Practices

Vivek Ramaswamy, a 2024 Republican presidential candidate, is sounding the alarm on corporations that engage in so-called “woke” practices. He believes that these actions not only risk alienating customers but also contribute to the growing division among Americans.

“When businesses involve themselves in social disputes, it’s not just bad for their bottom line… it’s detrimental to our civic culture,” Ramaswamy emphasized during an interview with Fox News on Sunday.

Ramaswamy, who has a background in finance and biotechnology, pointed out recent boycotts targeting Anheuser-Busch and Target for their involvement in LGBT social issues. Anheuser-Busch has faced a boycott since April after sending transgender influencer Dyland Mulvaney personalized Bud Light cans to commemorate their transition.

Target also faced backlash for releasing a line of products for Pride Month, including children’s books like “Pride 1,2,3,” “Bye Bye, Binary,” “I’m Not a Girl,” and “The Pronoun Book.” Additionally, they introduced women’s bathing suits with a “tuck-friendly” feature. Both companies have suffered significant financial losses due to sustained boycotts.

Ramaswamy’s criticism of “woke” corporate practices was prompted by entrepreneur and “Shark Tank” host Mark Cuban’s comments. Cuban defended the idea of corporations engaging in divisive social and political topics, claiming it’s good for business.

“There’s a reason why almost all the top 10 market cap companies in the U.S. can be considered ‘woke.’ It’s a smart business move,” Cuban stated in an interview with the Pittsburgh Post-Gazette.

Cuban suggested that businesses facing boycotts should simply wait for the negative backlash to pass. “Most CEOs know to weather the storm until the news cycle moves on,” he added.

America Needs Its “Apolitical Spaces”: Ramaswamy

Even before entering the 2024 Republican presidential race, Ramaswamy has been critical of businesses embracing divisive social and political topics. In 2021, he published a book titled “Woke, Inc.: Inside Corporate America’s Social Justice Scam,” which examines the issue.

Ramaswamy continues to speak out against “woke” business practices as part of his campaign. On his official website, he advocates for removing politics from corporate America and capital markets. He has also pledged to overturn a rule implemented by President Joe Biden’s administration that allows retirement funds to consider environmental, social, and governance (ESG) scoring systems when making investment decisions, rather than solely focusing on investor returns.

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