“First a dip in market cap is meaningless. You have to realize that there aren’t many individual owners of stocks — almost all ownership is via funds, and most trading is quantitative. So, it’s not like the drop is because tens of thousands of individual holders sold their stocks,” said Cuban to the Pittsburgh Post-Gazette.
Cuban then referenced major brands’ success as evidence that going woke actually does work.
“There is a reason almost all the top ten market cap companies in the U.S. can be considered ‘woke.’ It’s good business,” said Cuban.
[It *can* be if your consumer base orients itself to wokeness. That’s why Nike didn’t do much damage to its brand by actually paying Dylan Mulvaney to represent its women’s sports bras, while Bud Light and Target lost billions of dollars by promoting transgenderism. Cuban made his billions first in the tech sector and then in entertainment, two industries where woke probably plays better. Or at least did until it became as extreme as it is now. — Ed]
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