Vivek Ramaswamy argues woke capitalism from businesses like Bud Light and Target is 'bad for American democracy'

On Sunday, Republican Presidential candidate Vivek Ramaswamy said that "woke capitalism" is not only bad for business, but is "bad for our civic culture in our country."

In an interview on Fox News Sunday, the candidate was asked to respond to comments made by "Shark Tank" star and billionaire Mark Cuban, who recently said "woke" is "good business." 

"Businesses have a purpose it is to provide products and services to customers who actually need them and yes, to make a profit unapologetically," Ramaswamy responded. "When those businesses wade into social disputes, not only is that often bad for business, just look at what happened to Bud Light, look at what's happening to Target." 

"What we need is apolitical spaces that bring people together," he continued. "Whether they're black or white, or Democrat or Republican, the private sector the sports stadiums of this country, the labs of this country, that's where Americans unite, regardless of their partisan or identitarian affiliations.

"So I think what capitalism is bad for capitalism, but it's also bad for American democracy, too," the candidate concluded. 

In a previous interview with Fox Business, Ramaswamy said that young people are hungry for a cause. "So woke this or gender ideology, or the climate cult that will fill the void. But what we need to do for the next generation, Charles, is fill that void of identity with a vision of American national identity that runs so deep that it dilutes the woke agenda to irrelevance," he said. 

Bud Light and Target have lost a considerable amount of money in recent times. Bud Light's parent company Anheuser-Busch was down $27 billion in market cap after the brand's partnership with TikTok influencer Dylan Mulvaney. The Bud Light beer brand also lost the top spot as America's top-selling beer to Modelo. 

As of June 11, Target has lost $15 billion in market cap since it was revealed the company is offering "tuck-friendly" swimsuits and merchandise designed by a gay Satanist in its 2023 Pride line. 

Ever since those boycotts began, other brands have shied away from having a special promotion of Pride-themed items.