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The long-term effect of these incidents can be hard to gauge. Advertisers and companies were eager to speak out on social issues following the murder of George Floyd. Many companies raced to show their support for the Black community and started new programs or initiatives to promote diversity, equity and inclusion (or DEI). Netflix shifted cash to Black-owned banks while Hastings donated to historically black universities.
Yet in recent years opponents have started to take on DEI initiatives. Sales of Bud Light tanked after an advertising campaign featuring a transgender influencer sparked a boycott by conservatives. Critics of DEI have been emboldened since the Supreme Court ruled affirmative action programs designed to boost racial diversity on college campuses are discriminatory.
Entertainment companies have faced a backlash after their executives took a stance on political issues. Walt Disney spent two years battling Florida Governor Ron DeSantis after the company criticized a law that restricts classroom discussion of sexual orientation and gender identity. The company has also faced questions in recent weeks for the close relationship between Harris and its entertainment co-chair, Dana Walden, who oversees ABC News.
Hastings has always been civic-minded. He was working on education reform when he started Netflix and has devoted a lot of time and money over the years to charter schools. As his wealth has grown, he and his wife have given billions to philanthropic causes.
He wasn’t as outspoken about elections until more recently. But earlier this year, he was a vocal and public member of the chorus of celebrities and executives calling for Joe Biden to step out of the presidential race.
Netflix has always tried to keep Hastings’ donations and politics separate from its business. Eager to appeal to viewers of all persuasions all over the world, the company is sensitive to any perception that it’s politically biased. (Disney faces a similar conundrum.)
Like most companies in entertainment and Silicon Valley, Netflix’s employees lean to the left politically. Co-CEO Ted Sarandos is married to Nicole Avant, a former ambassador in the Obama administration. Sarandos and Avant are active in politics and were advocates for Rick Caruso in the Los Angeles mayoral race in 2022.
It won’t take too long to figure out if this tempest caused any short-term pain for Netflix. The company reports financial results in mid-October.
https://archive.is/Sk3fD
(This evil masters are being exposed. Too bad, so sad! I think I'll sell Netflix at a loss)