Blackrock owns...
Hm, yeah... but they don't though, do they?
Blackrock doesn't own shit. Blackrock is a hedge fund designed to preserve wealth. That is all.
Does Blackrock have "woke" score ratings?
Sure.
BlackRock’s ‘No. 1’ goal in ‘woke’ investing: Huge ESG-funds haul
The $9 trillion investing monster run by Larry Fink may be the most powerful financial firm in the world because it holds shares in large doses of so many big companies and thus can direct corporate policy.
So yeah, while Blackrock doesn't actually own anything, they can dangle money in front of corporations and be like, "Do what we say and you can have it! Jump for me, monkey!" So who is to blame in this situation? Blackrock, the corporations that bend over backwards to meet their demands, or both?
Perhaps no one is to blame. Perhaps this is just the way our system works, and we need to focus less on blame and more on rebuilding this pile of trash from the ground up.
In short, Fink will look like a darling to Democratic politicians, he’ll get a lot of left-leaning rich people to put cash in what they feel are “moral” stocks — and he’ll laugh all the way to the bank.
Again, this is all about the money.
ESG (Environmental/Social/Governance) investing isn't about saving the world and making it a better place. It's about virtue signaling and demanding that the peasants give the elite more power.
Global Climate Change and pollution are the moral dilemma of our generation!
Yeah, that very well may be, but the subtext is far more sinister than that.
Give us power so we can fix this crisis and we promise to give it back later.
Yeah, gee, I think I've heard that one before about a dozen times. How often does the power get given back? Look no further than Social Security to see that once debt is issued it never gets paid back. The masses subsidize this failed system and are then bombarded with propaganda asking for more while telling us all how good the system works. Most people fall for it. That's why they keep employing the same obvious strategies: because they work.
The interesting thing about business and economics is that it constantly walks the razor's edge. Take away 10% of the revenue of a corporation and all of a sudden they've gone from being in the green to being in the red. There are many examples of boycotts and people essentially voting with their money that has changed corporate policy.
There's a reason I don't eat at Chick-Fil-A...
https://en.wikipedia.org/wiki/Chick-fil-A_and_LGBT_people
In June 2012, following a series of public comments opposing same-sex marriage by Dan T. Cathy, Chick-fil-A's chief executive officer, related issues have arisen between the international fast food restaurant and the LGBT community. This followed reports that Chick-fil-A's charitable endeavor, the S. Truett Cathy-operated WinShape Foundation, had donated millions of dollars to organizations seen by LGBT activists as hostile to LGBT rights. Activists called for protests and boycotts, while supporters of the restaurant chain and opponents of same-sex marriage ate there in support of the restaurant. National political figures both for and against the actions spoke out and some business partners severed ties with the chain.
I mean yeah there's a reason I don't eat at Chick-Fil-A, and the reason is that fast food is toxic hammered dogshit. However, the reason my girlfriend doesn't eat there is this one. Stuff like this happens all the time. A corporation will do something that people don't like and so they get canceled or boycotted or whatever you want to call it.
The outcome of the initial controversy was mixed, as Chick-fil-A's sales rose twelve percent to $4.6 billion in the period immediately following the controversy; this was largely attributed to former Governor of Arkansas Mike Huckabee's counter-boycott launched in support of the restaurant. However, the company's public image and standing with the LGBT community was damaged, with the chain facing criticism and condemnation from politicians and gay rights activists, as well as efforts by activists and political officials to ban the restaurant from college campuses, airports, and elsewhere. Chick-fil-A released a statement in July 2012 stating, "Going forward, our intent is to leave the policy debate over same-sex marriage to the government and political arena."[1] In March 2014, tax filings for 2012 showed the group stopped funding all but one organization which had been previously criticized, the Fellowship of Christian Athletes.
So they made money but pulled their funding, so weird.
Stuff like this happens all the time, and it's good to point it out because voting with our money is far more effective than this stilly one-person-one-vote "democracy" thing we have going on.
In fact, money spent on manipulating public opinion is exactly how one-to-one voting got hacked into oblivion. This is a numbers game, boys and girls. If you can spend a couple million dollars to flip 5% of the population, you win. Democracy hacked cheap.
This is why I'm such a big fan of DPOS.
We are forging ahead and cutting out the middle man. Money votes directly. This would have been a horrific outcome if the people on Hive were forced to be here, but they aren't. These are opt-in systems of government with healthy incentives to compete within the attention economy. Anyone can (and many do) simply fork the code to create their own version. We've yet to see any superior options pop up, and there's a damn good reason for that. Distribution is harder than it looks.
Conclusion
Voting with one's money is nothing new, but crypto is bringing it to a whole other level. Imagine being able to invest in "America". Imagine if the politicians actually worked for you. Imagine any gains made by your country would be properly shared with you based on this financial contribution.
That's essentially what we have going on for us on Hive right now. What happens when a politician fucks up? They get kicked to the curb IMMEDIATELY, not 4 years down the road. Crypto moves at the speed of light compared to these legacy tortoises.
And as for these woke hedge fund investment scores and whatever else... I wouldn't worry too much about them just yet. We've yet to see the backlash from all this. IMO there's no way Biden can win the next presidential election. Even the people who voted him in are over it at this point.
The political landscape right now is fishtailing hard and a huge wedge is being thrust between the two vying political parties. Best to step away from the children's table of politics and focus on what really matters.
#buidl
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