BlackRock: The Most Evil Business In The World

Summary

The video details the rise of BlackRock, a global investment firm that has gained immense power over the world’s economy. It explores how Larry Fink, the company's CEO, turned it from a modest firm into a $10 trillion giant that controls major industries, including media, tech, and governments. The script emphasizes BlackRock's influence on global politics, economic crises, and the manipulation of information, portraying it as a shadowy force shaping the modern world. It also highlights the ethical concerns around its growing power and global dominance.

Takeaways

• 💼 BlackRock is one of the most influential companies in the world, controlling major sectors such as US banks, pharmaceuticals, and media.
• 📊 BlackRock oversees roughly 10% of all stocks traded globally and has amassed over $10 trillion in assets, making it extremely powerful.
• 🌍 BlackRock's founder, Larry Fink, shifted his focus from politics to finance, building BlackRock into a financial empire over just 34 years.
• 🏛️ BlackRock gained influence by managing assets during the 2008 financial crisis and was later hired by the US government to manage COVID-19 economic interventions.
• 📈 BlackRock became a global force through the creation of ETFs, investment funds that helped them gain control over many industries.
• 💻 BlackRock uses its powerful AI-driven investment platform, Aladdin, which manages over $20 trillion in assets and provides extensive data insights.
• 📰 BlackRock, along with Vanguard, has significant control over the media, owning stakes in major networks like Fox, CBS, NBC, and even Disney.
• 💡 Through its vast data collection, BlackRock can influence governments and economies by leveraging its control over banks, media, and companies.
• 🏠 BlackRock is heavily investing in real estate, driving up housing prices and increasing its control over homeownership, making many people dependent on renting.
• 🇨🇳 BlackRock's recent entry into China's economy raises concerns about the firm’s investments in authoritarian regimes, amplifying its global influence.

Q & A

What is BlackRock, and why is it described as one of the most powerful companies in the world?

BlackRock is a global investment management company that oversees roughly 10% of all stocks traded worldwide and manages over $10 trillion in assets. Its influence extends to major industries, including US banks, pharmaceutical companies, and mainstream media, giving it unparalleled control over global markets and economies.

How did Larry Fink, the founder of BlackRock, rise to power?

Larry Fink was born into a wealthy family and initially pursued a career in politics. After realizing the power of money, he transitioned into banking and real estate. Despite a setback in 1986, when he lost $100 million, Fink shifted his focus to risk management and co-founded BlackRock in 1988. His deep understanding of financial markets and connections allowed BlackRock to grow rapidly.

How did the 2008 financial crisis benefit BlackRock?

BlackRock's focus on asset management protected it from the worst effects of the 2008 financial crash. Due to Larry Fink's knowledge of mortgage-backed securities and his connections with high-ranking officials like Treasury Secretary Timothy Geithner, BlackRock secured contracts to manage the assets of banks that collapsed during the crisis, further increasing its influence.

What role does BlackRock's Aladdin system play in the company's dominance?

Aladdin is BlackRock's advanced supercomputer that analyzes market data and predicts the outcomes of investments. It manages over $20 trillion in assets, providing BlackRock with a strategic advantage by allowing it to make highly informed investment decisions.

How does BlackRock's ownership of media and tech companies influence global narratives?

BlackRock owns significant shares in major media companies like Fox, CBS, Comcast, and Disney, as well as tech giants like Google, Facebook, and Amazon. This allows BlackRock to influence media narratives and public opinion by controlling what is broadcasted and reported.

What are ETFs, and how did BlackRock use them to gain further control of global markets?

ETFs (Exchange-Traded Funds) are investment funds that pool money into multiple companies in a particular industry, offering diversification and stability. BlackRock became a major player in the ETF market, helping it attract more investors and increase its influence in global financial markets.

How does BlackRock's investment strategy impact housing markets and real estate prices?

BlackRock has been buying significant amounts of homes and real estate, driving up property prices. This benefits BlackRock financially because they profit from higher rents and mortgages, making it harder for ordinary people to buy homes and shifting more control of the housing market to corporations.

What is BlackRock's involvement with the Chinese economy, and why is it controversial?

In 2020, BlackRock became the first foreign company allowed to enter China's mutual fund industry, enabling it to invest in Chinese companies. This includes companies that have been blacklisted by the U.S. for human rights abuses, which raises ethical concerns about BlackRock's role in supporting authoritarian regimes.

What is ESG, and how has BlackRock influenced the rise of 'woke' corporate culture?

ESG (Environmental, Social, and Governance) scores are used to rate companies based on their social and environmental responsibility. BlackRock has pushed companies to prioritize social issues in their business practices, influencing the rise of corporate 'wokeness' as part of their investment strategy.

Why has BlackRock remained relatively unknown to the general public despite its massive influence?

BlackRock controls a significant portion of the media, which allows it to manage its public image and avoid widespread scrutiny. Its complex and vast operations are often obscured from the public eye, ensuring that most people remain unaware of the company's true level of control over global markets and governments.