"Get Woke Go Broke" doesn't happen to large megacorporations. They have an unlimited budget. They can afford to put ideology ahead of profits, because they have access to unlimited capital.

With paper money and negative real interest rates, banks can always print new money and give it to Disney.

Suppose inflation is 10%, interest rates are 5%, and Disney has $100B in debt. This means Disney gets $5B in free money every year.

Following this example, after 1 year, Disney has $100B in debt and $5B in interest payments due. They can now borrow $10B more (because of inflation), use $5B to pay off their interest, and now have $5B to spend as they please. Their balance sheet looks the same, because debt as a percentage of assets hasn't changed, due to 10% inflation.

The catch is that banks now use ESG scores to decide who's allowed to borrow. If Disney didn't go woke, their ESG score collapses, and now they can't borrow anymore.

All the shares are controlled by a few index funds and hedge funds. All those funds now use ESG scores when voting for a Board of Directors and CEO. If the CEO refused to go woke, he would be replaced. The CEO values keeping his job more than profit.