I wish this was true, but I doubt it. The majority of companies are woke, and seem to do fine.
There is a LOT of woke money able to keep these companies propped up. Same goes for several cable news organizations, but it is obvious some consider it a loss leader in order to push their agendas.
You find out who's swimming naked when the tide goes out.
Things may get ugly for these woke companies when the economy tanks.
Not in the long run. Any time a business goes woke they inevitably take their eye off the ball.
They just aren’t focused on being a business anymore, they become a virtue signalling enterprise. They probably will carry on for a while because they still have some good employees who know what to do.
Eventually attrition means they no longer have a critical mass of competent employees and managers. And wokery always worsens attrition because good employees get fed up with all the useless virtue signalling even if they are politically aligned.
It happens all the time even when companies aren’t woke: their upper management loses focus and competency. Woke is just a worse form of it because they feel self righteous while going out of business and convince themselves that doing what is necessary to remain viable is morally wrong.