Elon Musk has been transformed from a slightly withdrawn, quirky billionaire into a daily lightning rod for stories across multiple verticals in the mainstream media. Musk has never shied away from trolling his critics, but that is not the reason for the newfound attention. His bid to buy Twitter, which outed him as a champion for free speech, has made him enemy number one of an administration that is doing everything it can to control the narrative.
Between the SEC investigating him suddenly for disclosure issues and basically being called a racist because he was born in South Africa, the S&P has suddenly acted against his flagship company Tesla.
Being removed from any woke list is usually a good thing, but there is a large chunk of investors that actually make decisions based upon the moral grading of companies, instead of being primarily concerned about profits for shareholders. The so-called “Environmental Social and Governance” (ESG) score is now being used to grade companies on how closely they follow woke ideology. Musk does not seem too concerned about being off the list and responded with this Tweet:
Tesla is the industry leader in electric cars and does not need to embrace woke ideology to keep market share. In fact, Musk is probably happy that his company is now being identified as not woke enough. Companies like Disney and Netflix are paying the price right now for aggressively pushing leftist ideology.
Netflix is currently laying off workers because of the massive subscriber losses it is experiencing. It is not hard to see why the company is struggling. No one really wants to watch “He’s Expecting,” a comedy about a man who gets pregnant. Disney is suffering as well. Its ill-advised opposition to Florida’s parental rights bill has resulted in the company losing its special tax exemption and members of Congress are threatening to revoke its special copyright exemptions as well.
Corporations are starting to realize that a majority of Americans do not want to mix politics and commerce. Musk knows this as well, which allows him to troll his critics with impunity. It’s a show worth watching.