Mark Cuban, a billionaire and the star of the Shark Tank, argued that adopting “woke” thinking by businesses is simply “good business,” refuting claims that it is negatively harming their bottom lines.

Cuban was blasted on the internet by those who disagreed with his viewpoint.

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The owner of the Dallas Mavericks discussed the current criticism of organizations like Anheuser-Busch and the Target Corporation for promoting LGBTQ+ ideas in their branding during an interview with the Pittsburgh Post-Gazette on Sunday.

Both businesses have incurred enormous losses totaling billions of dollars since supporting what are often referred to as “woke” agendas.

While academics and industry insiders have indicated that citing politics was to blame for the decline, Cuban insisted that being politically aware is a beneficial trait.

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“There is a reason why practically all of the top 10 market capitalization firms in the United States can be termed ‘awake.’ “It’s good for business,” he explained.

“Most CEOs have enough experience to know to just wait out the news cycle until they go to the next one,” Cuban explained.

Bud Light’s apparent collaboration with transgender influencer Dylan Mulvaney was made public in April, and since then, the company’s dollar sales have dropped by 23.9% compared to the same period last year.

The sales of the Anheuser-Busch-owned brand decreased by 24.5% in the previous four weeks, according to Fox Business. Since the corporation started featuring LGBTQ+ and Pride Month marketing and items, including “tuck-friendly” women’s swimsuits, its market capitalization has decreased by billions of dollars.

Fox Business reported on Friday that Target’s shares dropped nearly 3.1% over the previous five days and roughly 18.5% over the previous month. Cuban, however, claimed that this “dive” was “meaningless” and improbable” since certain stockholders reacted to the debate by taking action.

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Cuban theorized that the new emphasis on woke politics could be due to firms realizing that “people want to do business with companies that care about their customers,” a quality that is “an American trait he says reflects who we are as a country.”

Despite Cuban’s insistence, some critics and business entrepreneurs have warned that adopting woke politics is a major mistake, as per New York Times.

“Demand for Bud Light has completely dropped. “No one wants it at their event anymore,” Barnastics founder Catarina Tucker told Fox News Digital. “A couple of clients have expressed to me their feelings about it, and it’s no longer popular.”