HOW TO FAIL AT BUSINESS WITHOUT REALLY TRYING: ‘Shark Tank’ star to teach business students about Dylan Mulvaney, Bud Light’s collapsed sales.
On Jul 31, Canadian investor and “Shark Tank” star Kevin O’Leary, also known as “Mr. Wonderful,” announced plans to teach about the “unprecedented” boycott of Bud Light to college students nationwide this fall.
“This is an extraordinary case that I’ll be teaching in business schools across America this fall,” O’Leary said in an interview with Fox News.
“To lose 25% market share has never been achieved, and it’s impossible to even dream it,” O’Leary Fox News, mentioning that some of the largest previous moves in the beer market range between 1-5%.
He emphasized that beer is essentially the same product, and what sets it apart is the power of its brand. In April 2023, Bud Light partnered with controversial transgender influencer, Dylan Mulvaney.
“You have to ask yourself: ‘on a campaign that really brings you into a discussion around gender identity, is that the right thing for my beer brand?’” O’Leary said,.referring to Mulvaney’s “365 Days of Girlhood” Tiktok video series, which initially propelled him into the spotlight.
O’Leary won’t be the last. Business schools will be teaching this for years as the counterpoint to how Johnson & Johnson dealt with the Tylenol poisoning murders of 1982.