Newt talks with Anson Frericks, former president of Anheuser-Busch Sales and Distribution, about the significant backlash faced by Bud Light following the controversial partnership with transgender influencer Dylan Mulvaney in 2023. The partnership, which included a $15,000 giveaway during March Madness, led to a boycott and a notable decline in Bud Light sales. Frericks discusses the impact of the partnership, the historical marketing success of Bud Light, and the cultural shift within the company following its acquisition by InBev. He also highlights the company's failure to effectively manage the crisis and suggests that selling the U.S. business could be a potential solution for recovery. Their conversation also covers the broader implications of corporate decisions influenced by ESG and DEI policies and the importance of understanding and maintaining brand identity. His new book is, “LAST CALL FOR BUD LIGHT: The Fall and Future of America’s Favorite Beer.”