James Lindsay on why Disney's going woke despite losing huge amounts of mone

"It's something like 47% of its value Disney's lost over this (being "woke"). We're talking like $130 billion in the last 12 to 18 months... 2 kind of answers
There are 2 kind of answers:
#1 You can say that they're actually not as interested in capital and growth as they are in some other set of incentives. That there's a different incentive structure that they're playing under. In other words that their hand is kind of being forced. That could be complicated because there could be activists in Disney that push this using Disney to do it. That's virtually certain that it's the case. How influential that is? I'm not as positive. But there are certainly these ESG, corporate equality index incentive structures that are pushing them. So their hand if forced. Maybe they're not actually interested in earning capital.

#2 Actually the cartel environment where they are pressured to do this means that the way to make the most money in capital which maybe is their interest is by playing the game in the cartel. So if you were in a block and like the mafia has a couple of blocks that they run. If you want to succeed in those blocks it doesn't matter if you run a restaurant, a laundromat, a shop, you've got to play by the mafia's rules and your largest amount of profit and least amount of risk come in the form of doing what the cartel wants you to do.

Those 2 things I just described, they don't want to make money or they do want to make money through this corrupt system are actually the same thing, it's just a matter of perspective."