Diversity, Equity, and Inclusion, better known as DEI, initiatives have been coming under increased scrutiny since President Trump took office. Several companies have ended or reduced their DEI push. Most recently, JPMorgan (JPM) dropped most of its references to DEI from its annual report.

On the latest episode of Living Not So Fabulously hosts David & John Auten-Schneider spoke with Fuerza Strategy Group managing director Jason DeAlessi, who is actively involved in LGBTQ+ businesses and local politics, about the growing threats that put the LGBTQ+ community's progress at risk. One of the issues he is tackling is "rainbow capitalism."

"Rainbow capitalism is the performative box check that a lot of companies have been doing,” he says, criticizing companies that use Pride Month as an opportunity for virtue-signaling without making long-term contributions. "They parade that float down the streets during Pride month and then they disappear. They don't support or sponsor an employee resource group. They don't support any real meaningful contributions.”

After penning a 2021 article about the trend of Rainbow Capitalism within Pride Month, DeAlessi's worries are greater than ever about the shifting landscape of support, or lack thereof. “The fact that [anti-LGBTQ+] rhetoric has become more normalized is a huge concern,” he stresses, emphasizing the need for voters to be mindful of local and national elections, as these decisions impact corporate behavior and policy.

DeAlessi also highlights the growing challenges for queer-owned small businesses, especially with the pullback in corporate support. "The reality is, these rollbacks will have a direct impact on queer-owned businesses, especially the smaller ones," he says. However, he urges listeners to take action by seeking out opportunities to support LGBTQ+ businesses year-round. “There are platforms like Everywhere Is Queer, where queer businesses can list themselves," he notes, encouraging people to use these resources to ensure that support extends beyond just Pride Month. “Sustained, year-round engagement is crucial for the community's survival and growth,” he concludes.

Hosts and husbands of Living Not So Fabulously, David & John Auten-Schneider, dive into real money stories with activists, allies, artists, tech-gurus, and trailblazers in the LGBTQ+ community to give you tangible takeaways to tackle your wallet woes.

Find this episode's transcripts and more episodes of Living Not So Fabulously at http://finance.yahoo.com/videos/series/living-fabulously/.

Have a money story of your own? Questions? Fan mail? Email us at [email protected].

00:00-Jason DeAlessi joins Living Not So Fabulously

01:40-Defining "Rainbow Capitalism"

04:20-The shifting DEI landscape for government and corporations

07:00-How to support the community

09:30-Pride Month 2.0

11:40-How anti-DEI impacts small businesses

18:00-Long-term personal wealth growth

Yahoo Finance's Living Not So Fabulously is hosted by David & John Auten-Schneider, and created and produced by Rachael Lewis-Krisky.

Jason DeAlessi is an entrepreneur who works in startups across the media, entertainment, real estate, and hospitality industries. His primary focus is currently with Fuerza Strategy Group, where he serves as Managing Director of the boutique digital and creative consulting firm on its projects with clients across the United States in the political and social justice arenas. Prior to starting his own firm, he worked at NBC News and for a national public affairs firm.

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