I never understood this.
I see reel after tiktok after tweet about how BlackRock controls the world, XYZ% of the world is OWNED BY BLACKROCK, and so on.
But no one really seems to know what that means. The money is THEIR MONEY, it is THEIR SAVINGS that BlackRock is holding in their name (most of the time at least - I’ve never seen anyone complain about a BlackRock hedge fund).
Which begs the question, why? What is it about a plain and boring asset manager that has people so wiled up? Why do they need to put up pictures of Larry Fink with devil horns and the likes?
Literally 15 minutes on Wikipedia will dispel ALL notions you could have about this firm.
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People like conspiracies, especially global ones, and especially ones where the chief (Fink, in this case), is… You know.
These types of conspiracies are not very intelligent people. Put that into your understanding of it and everything makes much more sense.
Most people have no pension. Most people have never heard of BlackRock. It has Black and Rock in the name. It sounds like a dark immovable force. Most people feel the fear. Probably advisable for them to rebrand as BrightSoft.
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I knew a guy once back in the day who thought the term “macrohard” was the funniest thing in the world. He wheezed over it.
Maybe BlackRock should adopt that as a name
Streets are saying that you work for BlackPebble, herr Jobbly is this true
People like to think someone is in control. It makes them feel loved
“Oh, Senpai noticed me, he will control my life now… Oh no!”
BlackRock doesn’t own all those companies, but when a handful of asset managers have that much voting power, it’s fair to ask how much influence they really have. That’s probably where a lot of the obsession comes from…
What’s the alternative to the asset managers having the voting rights?
Either some mass democracy of small shareholders, tyranny of founders/CEOs… I genuinely don’t see a better solution than the current de facto technocracy that exists
I don’t think this applies to anyone except children, surely