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When Bud Light decided to partner with transgender activist Dylan Mulvaney for an ad campaign last April, the company set off a conservative firestorm. Conservative media outlets and personalities like Kid Rock led a boycott that was more effective than anyone could have predicted, battering sales and the brand’s reputation in a way few modern activism-inspired backlashes have managed. The result was not only lost sales and market position, but also damaged goodwill with a large section of beer drinkers. Bud Light became a political lightning rod in America’s culture wars. Even after the Bill …

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