If you haven’t been following the news the past few days, Equinox and Soulcycle are trending as the latest businesses to boycott. Both companies are backed by billionaire investor Stephen Ross who is planning a fundraiser for President Trump this weekend in the Hamptons with tickets going for up to $250,000 each.
I totally understand why Trump haters (myself included) want to boycott these businesses, however, I question whether or not the boycotts can be successful. Is the end goal to hurt Stephen Ross? If so, that’s unlikely. He is reportedly worth more than $7 billion so a brief wave of boycotting is unlikely to put a dent in his net worth.
However, if the end goal is to boycott businesses that would take money from investors like Stephen Ross, then there is a greater possibility of success. With trendy new fitness programs and gyms popping up in major cities, it would be easy to replace your Equinox membership or your early-morning Soul Survivor class so options and availability are not the issue. The question is, will you take the time to research investors of all of the replacement options to be sure that they, too, are not backed by investors whose money goes to support Trump or other organizations you oppose.
And what about the employees? Is the onus on a front desk worker to quit his job if his views differ from those of an investor? Or are you, as the boycotter, responsible for potentially impacting the well-being of current employees?
These considerations are what make cancel culture a slippery slope. If you really want to take a stand and make a difference, cancelling your Equinox membership is step 1 to what should be a continue effort on your part to support businesses you believe in. By the way, I have to mention that Soulcycle and Equinox both came out with statements stating that they in no way endorse this weekend’s fundraiser.
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Will you be cancelling your Equinox membership? Will you still tap it back at Soulcycle? Share your next move in the comments below.