The Wall Street Journal ran a deep dive article last week exploring “how Bud Light blew it,” but it somehow missed the most important part of the story.
As most people already know, the world’s most popular light lager has seen a collapse in sales following a boycott prompted by a March Madness ad campaign featuring transgender influencer Dylan Mulvaney. The Journal’s chart depicting the fall in Bud Light sales speaks for itself, and the company’s delayed and tepid response to the uproar only seemed to make matters worse.
WSJ chart showing Bud Light's collapse after celebrating "day 365 of girlhood."https://t.co/2IcoNG8uQT pic.twitter.com/rdETbA0Bnl
— Phil Kerpen (@kerpen) May 22, 2023
This isn’t Anheuser-Busch’s first foray into controversial social issues.
The Journal’s Jennifer Maloney points out that the company has been engaging in social equity-themed advertising for years, including a 2021 Michelob Ultra ad featuring transgender track star Cecé Telfer and a 2022 Bud Light Canada campaign for Pride Month displaying various pronouns .
What Maloney fails to mention in her article is why beer companies — not just Bud Light — are suddenly courting controversial social issues such as nonbinary gender, transgenderism, and third-wave feminism.
The answer is simple: The rise of environmental, social, and corporate governance as the dominant strain of “stakeholder capitalism” has incentivized corporations to curry favor with ESG rating firms , even if it means alienating their consumers.
Unlike traditional capitalism, which seeks to maximize profits by serving consumers, the ESG model seeks to “improve” capitalism by considering other stakeholders besides investors and consumers. Publicly traded corporations are graded on how well they achieve socially desirable metrics, such as combating climate change, advancing diversity and inclusion, and creating a more “equitable” society.
What was intended to be a kinder, gentler form of capitalism has morphed into a kind of economic fascism that places the arbitrary interests of a small cabal of people — asset managers, bureaucrats, global financiers — ahead of consumers.
As the Austrian economist Ludwig von Mises pointed out , consumers are the true bosses in a capitalist system. They ultimately decide what products are created and purchased, who becomes wealthy, and who becomes poor.
As the Bud Light fiasco shows, ESG places consumers in the back seat. The social equity campaigns are not designed to appeal to Bud Light consumers, but to the ESG rating agencies, which have the power to downgrade companies that fail to dance to their tune.
This is a great deal for the ESG puppeteers. They can make multi-billion corporations move by the mere threat of a bad score, which gives them immense economic and political power.
Elon Musk found this out when Tesla was kicked off the S&P 500 ESG Index in May 2022, even though Tesla is an icon of sustainability. By January, Tesla’s stock, which had been trading at $248 a share, had fallen by roughly 55%.
To what extent Tesla’s collapse in share price stemmed from the company getting booted from the index is unclear, but the point is mostly moot. What matters is the threat of being singled out for an ESG transgression.
What few people seem to realize is that Bud Light’s collapse in sales is not just a threat to Anheuser-Busch. It’s a threat to the entire ESG model.
Up until this point, ESG has thrived because the perceived costs of not participating outweighed the costs of participating. Bud Light’s implosion stands to change that perception, which is precisely why the ESG overlords are striking back.
On Friday, USA Today published a leaked letter showing the Human Rights Campaign had informed Anheuser-Busch “that it has suspended its Corporate Equality Index score — a tool that scores companies on their policies for lesbian, gay, bisexual, transgender, and queer employees.”
“Anheuser-Busch had a key moment to really stand up and demonstrate the importance of their values of diversity, equity, and inclusion and their response really fell short,” said Eric Bloem, HRC’s senior director.
One can almost feel bad for Bud Light. The brand is caught in the middle of a larger war being fought by global anti-capitalists and the bosses of capitalism: consumers. Publicly traded companies should be allowed to go back to serving their real bosses — consumers — which is why the rotten ESG model should be dismantled.
Jon Miltimore
Jonathan Miltimore is the Managing Editor of FEE.org. (Follow him on Substack.)
His writing/reporting has been the subject of articles in TIME magazine, The Wall Street Journal, CNN, Forbes, Fox News, and the Star Tribune.
Bylines: Newsweek, The Washington Times, MSN.com, The Washington Examiner, The Daily Caller, The Federalist, the Epoch Times.
This article was originally published on FEE.org. Read the original article.
Three Reasons a Coffee Gift Set From This Christian Company Is Perfect for Christmas
When you’re searching for a Christmas gift that’s meaningful, useful, and rooted in faith, you don’t want to settle for anything generic. This season is filled with noise — mass-produced products, last-minute picks, and trends that fade as quickly as they appear. But one gift stands apart because it blends genuine quality with a message that matters: a coffee gift set from Promised Grounds Coffee.
This small Christian-owned company has become a favorite among believers who want to support faith-driven businesses while giving friends and family something they’ll actually enjoy. Here are three reasons a Promised Grounds Coffee gift set may be the most thoughtful and impactful present you give this year.
1. It’s Truly Delicious Coffee
Too many “gift-worthy” coffees look beautiful in the package but disappoint when the cup is poured. Promised Grounds takes the opposite approach — exceptional taste first, thoughtful presentation second.
Their beans are sourced with care, roasted in small batches, and crafted to bring out a rich, smooth flavor profile that appeals to both casual drinkers and true coffee lovers. Whether someone enjoys bold, dark roasts or lighter, more delicate blends, every sip reflects quality that stands shoulder-to-shoulder with the biggest specialty brands.
Simply put: this coffee is good. Really good. Some say it’s absolutely fantastic. If you want a gift that won’t be re-gifted, ignored, or shoved in a cabinet, this is it.
2. It Spreads the Word While Serving a Real Purpose
There are many Christian gifts that are meaningful… but not exactly practical. There are also useful gifts that have nothing to do with faith. Promised Grounds Coffee bridges both worlds beautifully.
Each gift set delivers an encouraging, faith-centered message through its packaging and presentation — a simple but powerful reminder of God’s goodness during the Christmas season. The cups are especially popular and serve as a daily reminder of the blessings from our Lord. At the same time, the product itself is something people will actually use and appreciate every single day.
It’s a gift that uplifts the spirit and fills the mug. A gift that points loved ones toward Scripture while still being part of the normal rhythm of life. And in a culture that increasingly pushes faith to the margins, giving a gift that quietly but confidently honors Christ can make a deeper impact than you might expect.
3. It’s Affordable, Valuable, and Elegantly Presented
Many people want to give something meaningful without breaking their Christmas budget. Promised Grounds Coffee strikes that perfect balance — the sets look and feel premium, but the price remains accessible.
The packaging is classy, clean, and gift-ready, making it ideal for:
- Family members of all ages
- Co-workers or employees
- Church friends or small-group leaders
- Hosts, neighbors, and last-minute gift needs
It’s the kind of gift that feels more expensive than it is — and more thoughtful than most of what you’ll find on store shelves.
The Perfect Blend of Faith, Flavor, and Christmas Cheer
A coffee gift set from Promised Grounds Coffee checks every box: a gift that tastes amazing, conveys your faith, supports a Christian business, and brings daily enjoyment to the person who receives it. In a season when so many gifts are forgotten, this one stands out for all the right reasons.
If you want a Christmas present that reflects your values and delivers genuine joy, Promised Grounds Coffee is the perfect place to start.