Patrick Bet-David Deconstructs BlackRock's Influence and ESG Ratings | Summary and Q&A

TL;DR

State Street, BlackRock, and Vanguard control the majority of companies in the S&P 500 and have significant influence in various industries, including defense, Hollywood, and pharmaceuticals. They have amassed trillions of dollars in assets and hold significant power in shaping global policies.

Key Insights

• ✊ State Street, BlackRock, and Vanguard own a significant portion of the world's largest corporations, consolidating their power and influence.
• 🇺🇸 With trillions of dollars in assets under management, State Street, BlackRock, and Vanguard rival the GDP of all countries except the United States and China.
• 🎮 ESG criteria are used by these firms to pressure companies into compliance, giving them significant control over corporate decisions.
• ❓ Their influence extends into various industries, including defense, Hollywood, and pharmaceuticals.
• ✊ The concentration of power and lack of competition raises concerns about potential abuses and the undermining of democratic processes.
• 🥺 The military-industrial complex is influenced by these firms, potentially leading to profit-driven decision-making in the defense sector.
• 🎮 The power and influence of State Street, BlackRock, and Vanguard surpass that of political leaders, making them the de facto controllers of the world's economy.

Transcript

The Joe Rogan Experience how much Joe have you looked at um you know Larry Fink Soro State Street you know Vanguard BlackRock how much have you looked at what they're doing and how what their ties are I've looked at it yeah yeah they're pretty much running everything yeah S P 500 you know the number that 88 of the companies on S P 500 88 of them th... Read More

Questions & Answers

Q: How much control do State Street, BlackRock, and Vanguard have over various industries?

State Street, BlackRock, and Vanguard's influence extends beyond the S&P 500. They also exert control over Hollywood, pharmaceutical companies, and other sectors, effectively monopolizing key industries.

Q: What is ESG, and how does it tie into the power these firms hold?

ESG stands for Environmental, Social, and Governance. It is a set of criteria used to evaluate a company's sustainability and ethical impact. These firms utilize ESG scores to pressure companies into alignment with their values and agenda, granting them control and influence over corporate decision-making.

Q: What is the potential impact of the concentration of power in the hands of State Street, BlackRock, and Vanguard?

The concentration of power in these firms raises concerns about the lack of competition and potential abuses. They can easily manipulate boards, replace CEOs and leaders, and effectively control entire industries and policies on a global scale.

Q: How can their influence on the military-industrial complex be problematic?

State Street, BlackRock, and Vanguard's dominance in defense contracts raises concerns about the profit-driven motives of the military-industrial complex. The desire for more wars and increased defense spending can overshadow considerations for ethical and strategic decisions.

Summary

In this video, the speaker discusses the influence and control that companies like BlackRock, Vanguard, and State Street have in various industries, including defense, Hollywood, and pharmaceuticals. The speaker expresses concern about the power and monopoly-like control these companies have, as well as their ties to influential figures like Soros. The concept of ESG (Environmental, Social, and Governance) is also explored, with questions raised about its goals and benefits for these companies.

Questions & Answers

Q: How much influence do companies like BlackRock, Vanguard, and State Street have in various industries?

These companies have significant influence and control in various industries. In fact, 88% of the companies on the S&P 500 have either BlackRock, Vanguard, or State Street as their largest shareholder. Their influence can also be seen in defense contracts, with three out of the top four shareholders for Raytheon being these companies. The same trend can be observed with companies like General Dynamics, Boeing, and Northrop Grumman.

Q: How much money is involved in the military contracts that these companies are influencing?

The United States spends a substantial amount of money on its military, with a budget of $744 billion. This is more than the next ten countries combined. These defense contracts are highly lucrative for companies that are involved in them, and the speaker raises concern about the potential profit-driven motivations behind these contracts.

Q: How big is BlackRock in terms of assets under management?

BlackRock is enormous, with assets under management totaling $10 trillion. This is a sum that only two countries, the United States and China, surpass in terms of GDP. This highlights the level of control and influence that BlackRock has in various industries.

Q: How has BlackRock expanded its influence through the signing of other companies onto ESG initiatives?

BlackRock has managed to get numerous other companies to sign on to ESG initiatives, resulting in a total of 70 trillion dollars of assets under management that they control. This amplifies their control over various industries and gives them significant power to dictate actions and decisions.

Q: Can you provide an example of BlackRock's involvement in a specific project?

One notable example is the rebuilding of Ukraine, where BlackRock and Chase are involved in a 400 billion dollar contract. This raises questions about the level of control these companies have to shape global projects and decisions.

Q: Do you think these companies have enough power to shape global affairs and influence political decisions?

Absolutely. The speaker highlights how these companies have the ability to make companies fire boards, replace CEOs, and even replace political leaders if they do not align with their interests. The sheer level of influence these companies hold suggests that they are running the world, rather than just the President of the United States.

Q: Are these companies perpetuating a monopoly in various industries?

Yes, there is a concern that these companies are creating a monopoly-like environment, especially considering their significant influence over 88% of S&P 500 companies. The speaker notes that there is a need to break up these monopolies and encourage competition.

Q: What role does the Monopoly law play in all of this?

Monopoly laws in the United States are set at a threshold of 50% market share. However, the speaker points out that companies like Apple, with around 60% market share, are already operating as a monopoly while facing no significant challenges. This raises questions about the effectiveness of the current Monopoly law.

Q: How are defense contracts limited to only five companies?

In the past, efforts were made to address pricing issues within the defense industry, resulting in only five defense contractors remaining. This means that these five companies hold significant power and influence over defense contracts.

Q: Are defense contractors motivated by financial gain?

Yes, defense contractors are profit-driven entities. The more wars and conflicts there are, the more they stand to profit. The speaker raises concerns about this motivation and questions whether it aligns with ethical considerations.

Q: How does ESG factor into the agenda of these companies?

ESG initiatives serve as a means of control for these companies. It allows them to dictate actions, decisions, and policies of other companies. The speaker points out that control becomes the ultimate goal once a person or entity has accumulated significant wealth.

Q: What is the goal of ESG initiatives for these companies?

While financial gain remains a significant motivator, control becomes the primary goal once these companies have amassed vast wealth. ESG initiatives provide a platform for exerting control and influence over other companies, industries, and even political decisions.

Takeaways

The video highlights the significant influence and control that companies like BlackRock, Vanguard, and State Street have in various industries. These companies effectively hold monopolies over many sectors, including defense, Hollywood, and pharmaceuticals. The concept of ESG is explored, with questions raised about its underlying motives and the level of control it provides these companies. The speaker expresses concern about the immense power these companies have and raises the need for competition and regulatory action to prevent abuses of power.

Summary & Key Takeaways

• State Street, BlackRock, and Vanguard collectively own 88% of the companies listed in the S&P 500, making them the largest shareholders in these corporations.

• These firms also exert significant influence in defense contracts, with three out of the four top shareholders of Raytheon, General Dynamics, Boeing, and Northrop Grumman being State Street, BlackRock, and Vanguard.

• State Street, BlackRock, and Vanguard have consolidated their power and now control a staggering $10 trillion in assets under management, making them two of the most financially influential entities in the world.