I love the fact the article comes from Fox Business how ironic? Just Saying! 
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Alt-right propaganda well timed to support the electoral campaigns in UK and especially US. Ideology war and marketing, nothing to do with investing. Seriously guys, do your due diligence instead…
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I think when people relate poor performance of some ‘woke’ companies (which I don’t agree as a term to describe companies because woke literally just means an awareness of social issues) as indicative that ‘woke’ practices don’t work - it’s a serious oversimplification.
What I don’t agree with is positive discrimination policies in companies (e.g. you have to have X number of women or minorities on your board or prioritising DEI hires over non-DEI hires) because that’s curing the symptoms not the cause of wider societal problems. In my opinion, it all comes down to unequal access to education & a failure to educate minorities & women at a young age that they can do/be anything they want to be.
If companies actually want to be ‘woke’ they should instead sponsor education programmes in difficult neighbourhoods, programmes which encourage women to pursue STEM/Finance jobs etc, and also education programmes which build up confidence etc. Naturally, this sounds more like the governments job, but business can try and plug the gap by doing these things. They don’t because it’s probably more costly & the impact is only felt in the LT. A DEI hire and pink washing (don’t know what the DEI term for that is) is cheaper and easier.
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I repeat my comment: banding the word "woke’ around makes no sense here. I have zero clue what you mean by it. It is used in a very intellectually lazy way by some people. Say what you mean … don’t hide behind terms such as this to keep grinding a chip on the shoulder. Even the article that you provide a link to does not use the word.
Every single company that I have ever worked for will claim that it hires “talent” and promotes it based on “merit”. I think just about any business will hire based on “merit”. The thing is the company gets to define “merit” not you. Every company I have worked for had/has diversity and inclusion policies. Wang himself says No group has a monopoly on excellence. There is zero that is being said here by Wang that is not said by every other company. But what Wang and the article seem to be doing is Virtue signalling. This is a “culture war”/ identity politics piece as Investors revolt against Woke business practices? - #17 by Cameron comments.
The article is trite and does not help me in anyway whatsoever ever to make any investment decision.
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Many companies actually do this. For example, through https://www.stem.org.uk many companies provide people/time/money to help and encourage girls/women to pursue STEM careers. Of course this is not the only channel that these things happen through.
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How dare you. The OP prefers information and examples that confirm his prejudices.
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