WAR ON ‘WOKE’
EREMY BOREING HAD NEVER PLANNED to get into the razor business. That changed in March when online shaving gear seller Harry’s yanked its ads from his conservative news site over what it called “inexcusable” views and a “values misalignment” relating to the LGBTQ+ community.
The Daily Wire CEO launched his own line of razors in March under the Jeremy’s Razors brand—selling products remarkably similar to those of Harry’s.
“They left us for saying boys are boys and girls are girls,” complained Boreing, whose news site is known for its podcasts with conservative commentator Ben Shapiro.
The battle of the razors is the latest in a growing war against “woke business” by conservatives who are starting their own companies or investment funds, using activist shareholder tactics and drafting legislation to target firms espousing liberal causes. The goal: to force executives to focus on profits rather than changing the world—or, at least, not changing the world in ways that align with liberal values.
The issue has taken center stage recently as a number of high-profile companies—including Disney, J.P. Morgan, Levi Strauss and Microsoft—announced plans to cover travel expenses for employees seeking an abortion in the wake of the Supreme Court’s reversal of Roe v. Wade. That followed other headline-making cases of businesses speaking out on social issues, such as Disney taking a stance on legislation in Florida restricting classroom instruction on sexual orientation and gender identity and dozens of companies from Silicon Valley to Wall Street pledging to fight racial injustice after George Floyd’s death in 2020.
The right-wing backlash, though limited so far, is growing and poses a competing challenge for companies as they juggle demands from some employees, customers and social media campaigners to take a stand on social issues. If successful, the conservative movement could also chip away at the multi-trillion dollar and growing business of environmental, social and governance (ESG) investing and, perhaps, the very idea of businesses being accountable for more than just making money.
“Firms are making polarizing bets,” said Valentin Haddad, an assistant professor at UCLA Anderson School of Management and research fellow for the National Bureau of Economic Research. “The initial stage of corporate activism is coming from the left, and now there’s pushback from the right. Are companies gaining more from the left or losing more from the right? That’s their debate.”
A Growing Movement
JEREMY’S RAZORS DID REMARKABLY WELL. IN JUST three days, its Twitter account had 35,000 followers, 3,000 more than Harry’sitself, Boreing tells. Advertising that mocked liberal sensitivities didn’t hurt.
