Episode 150 - Who really runs the world?
Added 2023-10-06 13:16:01 +0000 UTCIn my BlackRock conspiracy series, I uncover the power and influence of the so called "Big Three" - BlackRock, Vanguard and State Street.
Comments
Thanks! I'll probably cover ESG in a separate video, although it's not really that significant at the moment in my opinion. I am hoping to deliver the message through data visualization and I am looking forward to how that's gonna turn out. The GME is a bit different, I would say. Different incentives and market players, different economic mechanics and lot of absolutely asinine YOLOing. It's an interesting story. I might cover it at some point.
The Hated One
2023-10-11 15:43:36 +0000 UTCOw, this sounds very interesting! Those are some surprising voting stats you mention. I have a couple of thoughts, though: 1. I would try to clarify your distinction between conspiring and exerting influence. Clearly, these companies do have a big say in many goings-on, and as you point out, they also have certain voting preferences, albeit more conservative and not those feared by conspiracy theorists. To defend your thesis statement then, it is important to emphasize that the big Three are subject to systemic trends, just as other institutions are. You bring up some good examples, but I would really underscore that point. While theoretical arguments (e.g. a lack of financial incentives for actively managing companies) are fine, concrete data (e.g. their voting behavior) seems more compelling to me. 2. Regarding these companies alleged "woke agenda", I'd be very interested in learning how ESGs factor in. This is one of the touted mechanisms by which the Three are inducing woke culture. I've heard takes ranging from them using wokeness to whitewash business practices to using it to undermine the long-term corporate viability and drive down share prices to execute mass buy-outs. BlackRock's CEO in particular has been very vocal about ESGs, though he seems to be distancing himself now. Anyhow, ESGs have received a lot of attention online as of late, and I think that they thematically enter into your next video. 3. Another example of corporate financial influence was the GameStop short debacle. The general public got to see in real-time how trading firms leveraged politicians to bend market rules and salvage them. These kind of incidents give credence to conspiracy sentiment. I'm not entirely sure about the role of the big Three here, but would be very curious to know more. Maybe you already did a video on GameStop and I'm just forgetting. If so, my apologies. Else, this would be another interesting thread to address.
Eight-Legged Dj
2023-10-06 20:32:23 +0000 UTC
