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She's confusing a few different concepts. Black Rock and Vanguard don't have control of those companies since those shares are not directly owned by them but are owned by their clients who they're working on behalf of for ETFs and index funds. What I think she's confusing it with is the consolidation of consumer goods, so how it looks like a store is stocked with lots of different competitive brands but half of them are actually owned by Unilever. Pretty much it's taking a thing that's happening, the markets are dominated by a few different corporations who own large portfolios of brands, but is misunderstanding how that happens since it's not Black Rock or Vanguard doing that.
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Apr 20, 2023 13:11
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A lot of conspiracy thinking is like this. They recognize a thing that is happening, companies want to consolidate and hold as much of the market as they can, but misunderstand the mechanisms that are causing it and view it as a lot more simple than it is. Holding shares, having voting rights, it's all a lot more complicated than she paints it.
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Apr 20, 2023 13:33
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