BlackRock - when the top 1% really control everything

[docs20]

https://it.wikipedia.org/wiki/BlackRock

The beauty of capitalism... 

[zurew]

That video is a little bit misleading.

Here is a video that clear things up about blackrock: 

 

[Yarco]

Blackrock is just a corporation. Corporations are just lifeless entities that can be used for good or bad, depending on what the people who control them decide to use them for. Focus more on the top 1% of people who found, own, and control companies like Blackrock. Hold the individuals who make decisions within the company accountable. The corporation is just a legal entity, it doesn't make decisions. Don't let people misdirect you to and turn the corporation itself into a punching bag or a boogeyman.

[BlueOak]

@Yarco

Very useful to highlight a group this big that has unelected representatives heavily influencing most of the planet, if only to raise awareness. It's very useful also to name individuals, to hold them to account, anonymity is how many of these organizations operate around the law. Because you are right Yarco without naming them, it leads people to hate the entire system rather than the people responsible.

@zurew

Its not uncommon for investors to get on the board of these companies, especially in larger corporations, and it's often not the owner that suggests it.


Source: https://seedlegals.com/resources/should-your-investor-get-a-seat-on-the-board-seedlegals-data-has-the-answer/

Even when not on the board, for the purposes of influence, those funds still influence the percentage of the companies they have money in. Its not going to be an individual investor in the fund that has much pull, it's the collective power of the fund under a manager.

5-10% would probably get you a meeting with the owner directly if you requested it, certainly directors. I would say this man is quite naive in the second video dismissing this entirely. Investing not benefiting the company? Many executives get very nice bonuses when the stock/share prices rise. Not to mention theirs and the owner's own shares in the company will be increasing in value as well.

After that I like that he tries to go into complexity, and has more nuance, I think detail is extremely important if any solutions are to ever be found. It helps stop hysteria for example, or just shouting at something being bad with no understanding of any detail of it.

However the very final bit is the worst claim anyone made in either video, apart from maybe an AI wanting to take over the world, which is my pet peeve enough to fill 100 videos as to why this is absurd. That claim is, that there is anything at all wrong in any fashion with wanting to profit from your time making a video, there is no necessary conflict of interest and there is an audience that do go to reliable providers for facts rather than fiction.

Edited July 17, 2022 by BlueOak

[zurew]

52 minutes ago, BlueOak said:

Investing not benefiting the company? Many executives get very nice bonuses when the stock/share prices rise. Not to mention theirs and the owner's own shares in the company will be increasing in value as well.

Yeah,I agree.

52 minutes ago, BlueOak said:

That claim is, that there is anything at all wrong in any fashion with wanting to profit from your time making a video, there is no necessary conflict of interest and there is an audience that do go to reliable providers for facts rather than fiction.

I think he was trying to point out a dynamic on youtube, where being entertaining has much much more weight on your profits compared to being factually correct and dry. Its almost like you have to play into this dynamic , because if you don't , then you won't get that much traction on your videos.

I have to add here, that i have thought about this dynamic, and i think that youtube is becoming less and less reliable to gather knowledge about anything (especially heavier topics). Youtube still has a lot of good educational channels, but  because they have to play the entertainment game, their message sometimes get distorted a little bit. Of course, further research is always needed after watching a video, but it would be great if we could see a dynamic where you are rewarded for being factually correct . 

 

Thanks for pointing out the disagreements that you had with the link i posted here. I was lazy to write a proper analysis of the video , but this way our collective sensemaking of this topic may become better and hopefully less and less misinformation will be digested.

.

Edited July 17, 2022 by zurew