“Go Woke, Go Broke & How Big Brands Are Thriving Despite Backlash…”

Orren Prunckun
2 min readJan 25, 2024

“Go Woke, Go Broke” has no legs and is touted by people who have no clue about what they are talking about.

The latest “Go Woke, Go Broke” saying has been directed at Woolworths and Aldi.

Aldi is not a publicly traded company, so it’s impossible to know if they are going broke or not, so they can be left out of the discussion.

Woolworths announced they would not stock Australia Day merchandise on 10 January 10 2024.

Sure, there was a dip that basically recovered after the announcement.

Plus, there was a bigger dip only a month before for far less controversy.

Woolworths is hardly going bankrupt at $36+ per share for this.

Let’s look at Coles, which ARE stocking Australia Day merchandise:

Oh, wait, they had the exact same dip at the exact same time.

So perhaps both dips have nothing to do with the Australia Day merchandise announcement regardless of whether you are “Woke” or not.

Cole’s $16 a share is far more likely to go bankrupt than Woolworths — just saying.

Everyone seems to forget about the same time the year before — 20 January 2023, when Kmart (owned by Wesfarmers) decided to not stock Australian merchandise.

There was a small dip to reflect the “Go Woke, Go Broke” minority, but like a bo$$, they went from $49.38 per share to $58.45 per share (almost reaching Woolworths price and certainly eclipsing Coles).

Yeah, so much for “Go Woke, Go Broke.”

While I am at it, remember in 2018 when Nike and Colin Kaepernick decided to go “Woke”?

I do (https://www.facebook.com/orren.himself/posts/pfbid0wCgwcFzj8g7KTscg246Q3RKmnfTZvdHQXfmTakWhsefjTuRYNJVUyEPVT4iuBpgDl)

Despite a pandemic and inflation, they added 25% to their share price like an absolute bo$$.

And remember, in 2019 when Gillette’s “The Best a Man Can Get” Ad (https://www.facebook.com/orren.himself/posts/pfbid02iBwKaQ87jz1Z4qEFxDEwDdDAtxvML563i75vB72LUFe7HP6JHkypeYP3KxSo34cDl) received significant “Go Woke, Go Broke” backlash because it challenged “masculinity”?

Not only did their share price not dip, but it actually went up!

Also not broke.

Then we have JP-Drake from Drakes business announcing they will stock Australia Day merchandise to go in line with interviewing former employees who do OnlyFans (https://www.youtube.com/watch?v=ikUtNc3xjKs0) and publically “outing” alleged shoplifters with (https://www.facebook.com/watch/?v=514852012872237) for social media likes.

Drakes is not a publically traded company (Daddy’s business) so we have no idea of what their financials are like, so it’s safe to safe we can ignore their PR stunt.

Could you show me one company that went woke and went broke?

You can’t find one.

I can find plenty who didn’t accept changing social norms and did go bankrupt…

Let’s start with Kodak, Blockbuster, Toys “R” Us, Borders, RadioShack, BlackBerry, Sears, Polaroid, American Apparel, Lehman Brothers, J.C. Penney, Hertz, Theranos, Century 21, Gold’s Gym etc etc.



Orren Prunckun

Entrepreneur. Australia Day Citizen of the Year for Unley. Recognised in the Top 50 Australian Startup Influencers. http://orrenprunckun.com