Anson Frericks

Yeah, no, Charlie, thank you so much for having me today. And you're absolutely right. I mean, this really was sort of the tipping point. And when Bud Light did the sponsorship with Dylan Mulvaney, I think that was a red pill moment for most of America when they said, we've just had enough of corporations getting involved in political issues.

Yeah, no, Charlie, thank you so much for having me today. And you're absolutely right. I mean, this really was sort of the tipping point. And when Bud Light did the sponsorship with Dylan Mulvaney, I think that was a red pill moment for most of America when they said, we've just had enough of corporations getting involved in political issues.

We saw when the NFL got involved with having half their players kneel and accepted it. We saw companies like Disney who all of a sudden were promoting all of a sudden parental rights in Florida issues that were going on.

We saw when the NFL got involved with having half their players kneel and accepted it. We saw companies like Disney who all of a sudden were promoting all of a sudden parental rights in Florida issues that were going on.

And then when Bud Light, I mean, the most American of brands, the most American of beers, all of a sudden starts doing this controversial partnership with Dylan Mulvaney, this is really when people had enough. And this is when you actually saw customers left in droves. They lost millions of customers. The company lost billions of dollars of shareholder value.

And then when Bud Light, I mean, the most American of brands, the most American of beers, all of a sudden starts doing this controversial partnership with Dylan Mulvaney, this is really when people had enough. And this is when you actually saw customers left in droves. They lost millions of customers. The company lost billions of dollars of shareholder value.

Their profits plunged by $2 billion as well. And this is when all of a sudden you actually saw more companies take a step back and look at some of the really controversial, divisive businesses.

Their profits plunged by $2 billion as well. And this is when all of a sudden you actually saw more companies take a step back and look at some of the really controversial, divisive businesses.

DEI and ESG policies that have been implemented across corporate America by sort of the Biden administration, by asset managers like BlackRock, State Street, Vanguard, by a bunch of consultants like McKinsey. And this is when all of a sudden corporations actually took a step back and said, you know, maybe we don't need all this. Maybe this isn't good for business.

DEI and ESG policies that have been implemented across corporate America by sort of the Biden administration, by asset managers like BlackRock, State Street, Vanguard, by a bunch of consultants like McKinsey. And this is when all of a sudden corporations actually took a step back and said, you know, maybe we don't need all this. Maybe this isn't good for business.

Maybe we need to sort of reevaluate where we are as a company. And, oh, the pendulum is starting to swing back. This is still very relevant. As you've seen, certain companies like McDonald's, like Walmart are and like Tractor Supply Company have kind of stepped back. But other companies are really leaning in. Just this week, you have Costco, JP Morgan have doubled down on their DEI policies.

Maybe we need to sort of reevaluate where we are as a company. And, oh, the pendulum is starting to swing back. This is still very relevant. As you've seen, certain companies like McDonald's, like Walmart are and like Tractor Supply Company have kind of stepped back. But other companies are really leaning in. Just this week, you have Costco, JP Morgan have doubled down on their DEI policies.

And then now there's been a lawsuit that's been filed by a lot of DEI officers at companies that are trying to undo some of Trump's recent legislative agenda. So this is very much still a topic that is alive. And I think we're going to not be seeing the end of the DEI movement anytime soon.

And then now there's been a lawsuit that's been filed by a lot of DEI officers at companies that are trying to undo some of Trump's recent legislative agenda. So this is very much still a topic that is alive. And I think we're going to not be seeing the end of the DEI movement anytime soon.

Absolutely it has, Charlie. I mean, you've just seen that Bud Light, which was the biggest beer brand in America, had lost 30% of their sales, 30% of their customers. Other brands that they have, Budweiser, plunged as deeply. And then even took growth brands they have, Nickelodeon Ultra and Bush Light. All of a sudden those started plunging also. So it's had a huge effect on the stock price.

Absolutely it has, Charlie. I mean, you've just seen that Bud Light, which was the biggest beer brand in America, had lost 30% of their sales, 30% of their customers. Other brands that they have, Budweiser, plunged as deeply. And then even took growth brands they have, Nickelodeon Ultra and Bush Light. All of a sudden those started plunging also. So it's had a huge effect on the stock price.

At the same time, the broader stock market has been up almost 40%. So Bud Light down 20, 30 percent, broader stock market up 40 percent. So it's had a massive effect. And it's not just at Bud Light. Companies like Target, very similar.

At the same time, the broader stock market has been up almost 40%. So Bud Light down 20, 30 percent, broader stock market up 40 percent. So it's had a massive effect. And it's not just at Bud Light. Companies like Target, very similar.

When Target two years ago got involved in Pride Month and they were having to tuck friendly bathing suits, as you might recall, their stock is down double digits over that time period where their biggest competitor, Walmart, who Walmart has taken a big step back. Walmart ditched their divisive DEI policies. They were more focused on the customer.

When Target two years ago got involved in Pride Month and they were having to tuck friendly bathing suits, as you might recall, their stock is down double digits over that time period where their biggest competitor, Walmart, who Walmart has taken a big step back. Walmart ditched their divisive DEI policies. They were more focused on the customer.