The adverse reaction to progressive politics has attracted entrepreneurs and investors hoping to profit from the anti-woke movement’s momentum.
Conservatives see a chance to push back against diversity, equality, and inclusion measures ingrained in practically every element of daily life as big American corporations face pressure from activists to embrace leftist political ideas.
It’s not unusual for political and social groups to try to influence people by appealing to their wallets. However, in recent years, the politicization and polarization have reached new heights.
Are you looking to profit from the conservative backlash against corporate diversity, equality, and inclusion initiatives? SPACs can help with that.
The company behind the buzz is Colombier Acquisition Corp., and it just merged with PublicSq, an online marketplace for businesses operating in what it terms “the patriot economy.”
If the merger goes through, former Mike Pence adviser Nick Ayers and failed U.S. Senate candidate Blake Masters will sit on the board of the merged corporation.
The function of SPACs, sometimes known as “blank check acquisition companies,” is another critical distinction.
Rumble, in particular, has maintained a share price close to its $10 par value while seeing far fewer pre-merger redemptions than typical “deSPAC” transactions. Colombier has not yet completed redemption, although its share price has stayed over $10 since it announced the PublicSq acquisition.
The immediate result is that it’s still not apparent whether or not the “anti-woke” movement will influence consumer behavior or will stay mostly confined to online platforms and financial markets.
For example, it’s hard to assume consumers would stop frequenting Chick-fil-A because the firm hired a DEI advocate.
Disney’s top and bottom lines look untouched by the corporation’s Florida struggle.
However, once its SPAC acquisition is finalized, PublicSq will start providing financials that may provide more light on how much bite there is to the bark.