4.5 • 705 Ratings
🗓️ 4 September 2019
⏱️ 9 minutes
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0:00.0 | Welcome to Axisprorado, where we take just 10 minutes to get you smarter on the collision of tech, business, and politics. |
0:12.6 | So we're off until the new year, but wanted to share a few of our favorite segments from 2019. |
0:18.1 | And today's is from September and digs into how Walmart unloaded on guns. |
0:25.7 | Walmart unloads. |
0:27.5 | So yesterday, America's largest physical retailer made several major changes to its firearms |
0:32.4 | policies, one month after the mass shooting inside its El Paso, Texas store. |
0:36.7 | The moves included, first, |
0:38.3 | discontinuing sales of short barrel rifle ammunition and handgun ammunition. Two, ending handgun |
0:44.1 | sales in Alaska, which was the last remaining place where Walmart sold them. Three, asking |
0:49.1 | shoppers to stop openly carrying firearms in states where it's legal, although that's just a request, |
0:55.0 | not a demand. |
1:00.1 | And fourth, Walmart plans to share its firearms compliance controls, kind of its tech platform, |
1:05.9 | with other retailers free of charge. Why all of this matters is that Walmart today is the nation's largest ammunition retailer with around a 20% market share. So these changes could make it harder for gun owners |
1:11.7 | to fill their chambers. And that does indeed include potential mass shooters. But maybe more importantly, |
1:17.2 | this is the latest high profile situation in which a U.S. company is waiting into policy waters. |
1:22.6 | Now, some pundits have claimed that Walmart is simply making a strategic business decision here, |
1:27.1 | not a political one. But that's belied by the fact that Walmart CEO simply making a strategic business decision here, not a political one. |
1:28.1 | But that's belied by the fact that Walmart CEO Doug McMillan specifically in his letter yesterday |
1:33.1 | asked elected officials to strengthen national background checks and implement red flag laws. |
1:38.7 | The bottom line, Walmart is largely exiting the gun business, but in doing so is entering |
1:43.7 | the gun control debate. |
1:45.3 | In 15 seconds, we'll go deeper with Bloomberg retail reporter Sarah Halzick. |
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