Rainbow capitalism was good actually, for many reasons.
It wasn't that long ago that banks and companies would refuse to serve gay people. People are going all the way up to the Supreme Court to enshrine the right not to serve LGBTQ people in their business. Rainbow capitalism showed which companies were safe to do business with and it pressured other companies to do the same.
Likewise, companies did and do try to discrominate against LGBTQ employees. Rainbow capitalism let employees be open about their identities and feel safe. The 50 year old gay man marching with Bank of America may have hidden his sexuality for decades because it wasn't safe to come out at work.
It helped set top down societal values and norms that LGBTQ people are a welcome part of society.
It pressured companies to adopt nondiscrimination policies and DEI policies.
It made companies donate to pride celebrations and LGBTQ causes.
with mixed success, it provided powerful and visible allies for political change, like the Respect for Marriage Act. Businesses pulled out of North Carolina and forced it to go back on a bathroom bill.
The drawdown of rainbow capitalism has real consequences. Pride celebrations losing corporate sponsorships means they are not able to hold those celebrations. DEI programs are being rolled back. Companies are buying less from queer owned businesses. Support for gay marriage is actually decreasing in polls.
Are these all cause and effect? No. Is it sometimes just a lagging indicator? Yeah. Are fair weather allies like big corps really not great? Yeah.
Like we're seeing greater threats to LGBTQ people and rights now than in 20 years and if you're still complaining about rainbow capitalism or having to qualify it by saying "I know rainbow capitalism is bad but" then I think you've lost the plot as surely as we've lost some of our biggest most powerful and most visible allies
Insurance and real estate companies red-lined areas with high concentrations of gay people (similar to how they treated POC and Jewish people) and either refused to do business or charged exorbitant rates. Gay men and women were prevented from naming same-sex partners as beneficiaries and wills were often overturned in court, if they could find a lawyer to draft them. Being accepted by the financial and economic community is a necessity to survival.
There's some really good succinct points being made about, here's some rambling anecdotal emotional thoughts.
I am old enough to remember when it was really, really rare to see companies admitting that gay people existed even during Pride. Like. Growing up companies just did not do that.
And like, yeah, it's important to remember that Corporations Are Not Are Friends. They make decisions on what seems profitable. And gradually during my lifetime, it became profitable to celebrate the existence of queer people during Pride, and be openly accepting and encouraging of them all year round. Because society as a whole had leaned in a "queer people are okay actually and I want to buy from companies that aren't homophobic" direction.
And, like, it matters.
I've worked in a place where I did not feel safe being out about being queer. The library I grew up at and worked at never, ever had a Pride display the entire time I worked there. And they have nothing going on for Pride this year. There were very few twee little rainbow stickers letting me know a shop was friendly to the lgbt+ community. Companies in my area didn't do pride decorations. Rainbow capitalism was a thing I sometimes started to see in commercials and saw people complain about online, but....it wasn't happening in my town.
The town I grew up in is 3 times the size of the town I live in now and was considered The Big City for my area.
The library in the town I moved to? Plays host to regular queer events and tables at local Pride events as outreach to the local queer community. I walked into my local health clinic and they had banners and decorations about Pride and my doctor was wearing a rainbow lanyard. I've seen queer-friendly things out year around in places here and it's still baffling and strange to see companies put up any sort of Pride display, like my existence is worth celebrating and protecting!
Which city do you think I feel safer in? The one where I was afraid I might be hatecrimed if I mentioned I was queer, or the one where I can go into shops with Pride displays and openly queer employees?
Can you understand what a relief it is that my friends can casually use they/them for me out in public? In my old town I didn't even bother telling my IRL friends and coworkers that I was nonbinary because it didn't feel like there was a point.
We live in a stupid capitalist hellscape and while I wish we lived in a better world, we don't right now. So, while it might be a hellscape I want to live in a capitalist hellscape where corporations think it will please customers if they at least pay lip service to supporting queer people. I want to live a hellscape where companies FEAR the backlash if they fuck up during Pride or any time of year.
That's what Rainbow Capitalism really is about. It's a sign that companies are afraid of pissing off the majority non-queer population that supports queer people. Companies are cautious entities that operate from a fear of losing customers and profits. So, as shallow as Rainbow Capitalism feels a lot of the time, it's a useful indicator of what scares a company more: being our enemy or the homophobes enemy. And frankly, I want them scared of me. I want them waving those cheap rainbow flags high in surrender to my dollars!
Because most of my life I lived in the world without Rainbow Capitalism and it sucked A LOT. Don't tell me that Rainbow Capitalism is meaningless. I've experienced the difference. I know some folks out there might live in the town I grew up in, or some place like it, or some place worse. And, yeah, the concept of Rainbow Capitalism feels pretty hollow out there.
But Rainbow Capitalism "out there" means that queer online shops and online spaces can grow and thrive because companies are more likely to have policies that treat queer sites and businesses as valid, rather than pulling them down or categorizing them punitively. And like, I know Tumblr has a real problem with how it's treating that trans community right now. It's never been great but there's been some real shitshows lately. And I think a part of that really is because Rainbow Capitalism is slipping so they can "afford" to be lax about it. The gay and trans furry fandom website that's 10 seconds away from imploding at any moment thinks it's financially safer right now to basically ignore Pride and ban trans users. That's what an absence of Rainbow Capitalism looks like. That's why Rainbow Capitalism shouldn't be dismissed.


























