Name: Patrick Bet-David Deconstructs BlackRock's Influence and ESG Ratings
Uploaded: 2023-08-03T17:08:04.000Z
Description: Watch the stand-up comedy video 'Patrick Bet-David Deconstructs BlackRock's Influence and ESG Ratings' from PowerfulJRE on Comedy Buff. Published 2023-08-03. Transcript available.

Watch the stand-up comedy video 'Patrick Bet-David Deconstructs BlackRock's Influence and ESG Ratings' from PowerfulJRE on Comedy Buff. Published 2023-08-03. Transcript available.

the Joe Rogan experience how much Joe have you looked at you know Larry Fink
Soro State Street you know Vanguard BlackRock how much have you looked at
what they're doing and what their ties are I've looked at yeah yeah they're
pretty much running everything yeah yeah S&P 500 you know the number that 88%
of
the companies on S&P 500 88% of them the largest shareholder of those companies
is either State Street BlackRock or Vanguard 88% of them okay and then you
see their influence in defense contracts okay so we went through a deal I'm
like
let me see if this these guys this ESG Larry Fink Vanguard State Street if they
have any influence on military contract defense contract if you Google the
largest shareholder for Raytheon three out of the four top shareholders of Raytheon
BlackRock State Street and Vanguard it could be top three with Raytheon but I
think it's three out of four if you go look up general dynamics if you go look
up
Boeing if you go look up you know Northrop Grumman okay and then you work
backwards and you say okay how much money is that in the in what these guys are
doing you'll find the are you know the amount of money we spent in our military
744 billion dollars on how much we're making from defense but you'll see some
numbers saying last year is 13% of our GDP which is around eight hundred and
fifty
billion dollars that's more than the next ten combined we gave more money to
Ukraine
than Russia spent on their military last year and when you look at these
contracts
then you're like okay Fink is there these guys are there okay let's go look at
Hollywood same thing you see there let's go look at pharmaceutical let's go
look at
this and you're like wait a minute these guys essentially have a monopoly well
how
big is BlackRock ten trillion dollars how big is ten trillion dollars only two
countries have a bigger GDP than what BlackRock has assets under management US
and China that's how big BlackRock is so then they went and they started
getting
all these other guys to sign on and say hey we want you to participate with the
same thing as well with ESG and they ended up having I think that 31 signers I
think end of 2022 they got 60 something signers for a total of 70 trillion
dollars
of assets under management that they're controlling so now they're controlling
other places and just recently if you saw the rebuilding of Ukraine did you see
this contract rebuilding of Ukraine 400 billion dollar contract BlackRock and
chase is helping rebuild Ukraine and then yeah okay I'm not a conspiracy theorist
but
what the hell is going on here they have that much control to get everybody to
do
what they want them to do yes so Dylan Mulvaney who cares why Bud Light how
does
that tie up you got the DEI the HRC the human rights and all this stuff and
then you go
even deeper which is even a crazier part with you know the education schools
like
you know the biggest union we have in America I think it's national education
something NEA is the largest union we have 3 million teachers are part of that
union and and you look at that and you go deeper and that would open society
and
who's funding it who's the money behind these organizations comes back Soros
Soros Soros
how do you feel about the kind of power they have right now to fight against
them
because this isn't like a billionaire can come out and say I'm gonna go up
against
these guys they don't have a little bit of money a billionaire to these guys is
nothing they got the kind of control that can make companies fire boards they
can
replace CEOs they can replace leaders if they don't like they have their hands
so
much into it where many times when people say they the people of power the
people of power I'm kind of like who are the people of power are you convinced
these guys are really running the world or what do you think about what some of
these bigger companies are doing like State Street Vanguard and Black Rock well
they certainly have massive amounts of influence what do you think they're
doing it's it's the question is how do you fight it like for example the way we
fight mainstream is by what the show that we do and we have to be patient it's
gonna
take two three four five ten twenty years now you have some influence right
okay we
can fight there is an actual strategy on how to fight that no problem you got a
kid in school who's a bully he's bigger than you he keeps bullying you you have
a
strategy on how to beat the guy you take a year jiu-jitsu two years this this
that
boom one fight he knows I'm never gonna touch you again screw this thing I'm
not doing this no more right there is a play to it when you have this much Joe
88% of S&P 500 companies that is a form of a monopoly if I'm a president
whether
it's a Trump or whoever else goes out there and does it our monopoly law in
America is 50% they say 50% like if you tie and said at what point is a 50% I've
done calls with the FTC like we had one of our guys technology we were using
the FTC called and said hey we want to have a call with you because they're
thinking about buying this other technology company and we're worried it's
gonna be a monopoly so we had the call okay at the end of the call with us with
a
bunch of different people we said we love their product we love their product
that
deal didn't end up happening okay the monopoly law some of these guys are
influencing it but they say 50% is a monopoly law do you know how many people
in America have an iPhone versus droid you know what the numbers market shares
in
America with iPhones I think it's like 60 58% 60% that is already a monopoly
but
who's knocking on the door of Apple Tim Cook saying hey Tim you got 58% that's
breaking a monopoly law nobody is I think someone's got a break apart you know
in
1993 I don't know which senator it was they these guys that were trying to get
the
defense contractors to be better at the pricing what they were charging because
they
were over charging DOD and DOD people don't know what the hell is going on they're
like
yeah okay how much 68 million dollars do it 1.2 billion dollars do it I'm not
going to
over negotiate the money they took 51 defense companies and they brought it
down to only
five it's only five companies right now when you want to buy anything think
about that
so defense contractors is five we know how these guys make money earlier you
know I was
asking you a question why do you think vaccine and you're like Pat that's how
they make their
money right I mean if a if you and I run a hotel rooms are empty we're not
making money we need
people to stay in the rooms if we and I running a hospital we need people on
the beds to make
money yeah if there's no people on the beds we ain't making money if these five
contractors
are fighting for 744 billion dollars what do they want more of wars they want
more people
done you know the Papa John saying better ingredients better pizza Papa John's
you know these guys is
more wars more people dying more profits defense contractors right that's a
valid concern that I
have because behind closed doors this whole military industrial complex when
you look at the numbers
whoever becomes the president unfortunately this guy's an anti-establishment
president good
unfortunately if you're an anti-establishment president everyone's going to
come after you
especially these military defense contractors so if a president got up and said
if I'm going to be the
president here's what we're going to be doing we have to look at all the
contracts you can't
overcharge us we have to open it up you have to sell some of your companies you
have to let them be
independent again you have to do this you have to let them go public separate
whatever way you got
to break them apart to have competition again because we don't have that today
you know so that is a major
concern where we say we have a commander-in-chief but really the commander-in-chief
is Larry Fink
today the guy running BlackRock is really the president of the United States if
we look at the kind of
influence he's got in every industry Joe and he's like well you know I kind of
feel bad I'm ashamed
that all the weaponization the word you know ESG is being used and all this
other stuff and Elon
tweeted about the ESG I don't know if you remember when Elon tweeted about ESG
saying the S in ESG is
satanic okay so this is a part where even a Charlie Munger who is Warren Buffett's
partner says look I love
Larry Fink but I'm not interested in having an emperor some words like that he
said about Larry
Fink so this motive and by the way Larry Fink is an interesting guy because he
majored in college
political science his aspirations was politics he accidentally got into money
and he learned to trade
and then he lost a hundred million dollars at 36 years old I think and then he
teams up with
Schwartzman and they start this company and after a couple years it got five
billion under management
eight billion and 32 billion and then they have a difference because you know
he wants to give
equity and Jamie's you know Schwartzman's like knowing they separate but
influence of politics you get
into business you're a billionaire it's you Soros so I'm I'm extremely
concerned about what these guys
are up to and we think our president is the most powerful person that prince is
not because being a
closers are going to be like look guys let's relax that guy's only going to be
there for four to eight
years we're going to be all right he'll be out we're running the world we're
okay we were running
America but now we're running the world we control all the ETFs in America we're
controlling all this
stuff everyone has to come through us and we can tell everybody what to do
because everybody fears
not getting money from us from being downgraded a Tesla on ESG score is nothing
but a Philip Morris
gets an A rating how the hell the company that's Philip Morris has a better
environmental social
governance score DEI you know not DEI but the CI the score they give it over
Tesla so they can bully
some of these guys now let me ask you this what do you think the goal of ESG is
what why do you think
they're establishing these sort of parameters like why why is ESG a thing and
what's the benefit of it
for them so Schultz said something very interesting Schultz says look these
guys are driven by money
they're not going to do anything to destroy an economy to lose their own money
because they want
that I said okay so very good Andrew Schultz I said that's a very good point uh
you know on what
you're saying fine so you know you know how sometimes Michael Jackson you see
the interview
with him with kids oh they're just sleeping in the bed that's all it is and we're
just having a great
time and we're storytelling and like yeah but I get it you know it's a little
weird you got a seven
eight year old ten year old kids sleeping in your bed and you know all this
stuff and just it's a
little bit fishy what you're talking about here it's not normal well if you're
in Hollywood and
you've slept with as many people at these people sleep and then eventually you
have to have other
options because what else do you have to try new things how many threesomes
have you had how many
this how many that so you start trying all these other things and sometimes
these guys go to such
and such place doesn't matter it's kind of weird and fishy right on what you
want to do great okay
so why are these guys doing what they're doing you have all the money in the
world you live in a
hundred million dollar house not you Larry Fink and some of these guys I'm not
I don't know if he lives
in a hundred million dollar house but you got some money to live in a hundred
million
what else do you need right you got nice cars Jamie Dimes got a 900 million
dollar art collection
according to an article it's a nice art collection right you go to all the nice
restaurants you meet
prime ministers you meet presidents and maybe there comes a time when you're
looking at a couple of
these guys they're presidents and prime ministers and you tell yourself I'd be
a better president than
you bro how the hell am I not reading the country or they tell themselves you
think you're a president
you're not a president you work for me what else is the motive but ESG how does
that factor but that the
point is control is what I'm saying so the motive becomes control more than
money after you have all
the money in the world what's next it's got to be control or a true vision so
Soros when you're talking
ESG that story is a complete different story you ever heard Soros's interview
with 60 minutes where he
says I see myself as a god have you ever seen this interview or what he says no
really he said he sees
himself as a god oh my god Jamie do you mind pulling up the quote I think it's
if you type in LA Times Soros
God if you type in LA Times Soros God when you hear what he says it's like the
second to the last paragraph
all the way to the bottom the guy asks a question you know about who he views
himself as I want to I
want to quote it properly exactly what he says is there a video of him saying
yeah 60 minutes there's
a video as well so if you go all the way to the bottom go a little bit higher
go a little bit
higher on the quote no go a little higher I think it's a little higher keep
going higher
keep going higher keep going higher keep going higher prevailing values a
little higher there's a part
where he says uh keep going what year is this article by the way is this and it's
a it's an old article
it's supposed to be 2004 that's the one this is the one uh okay right there it
seems that Soros
believes he was anointed anointed by god I fancied myself as some kind of a god
if truth be known
I carried some rather potent messianic fantasies with me from childhood which I
felt I had to control
otherwise they might get me in trouble and then on the next line when asked by
Britain's independent
newspaper to elaborate on the passage Soros says it is sort of a disease when
you consider yourself
some kind of a god the creator of everything but I feel comfortable about it
now since I began to live
it out

Patrick Bet-David Deconstructs BlackRock's Influence and ESG Ratings

the Joe Rogan experience how much Joe have you looked at you know Larry Fink
Soro State Street you know Vanguard BlackRock how much have you looked at
what they're doing and what their ties are I've looked at yeah yeah they're
pretty much running everything yeah yeah S&P 500 you know the number that 88%
of
the companies on S&P 500 88% of them the largest shareholder of those companies
is either State Street BlackRock or Vanguard 88% of them okay and then you
see their influence in defense contracts okay so we went through a deal I'm
like
let me see if this these guys this ESG Larry Fink Vanguard State Street if they
have any influence on military contract defense contract if you Google the
largest shareholder for Raytheon three out of the four top shareholders of Raytheon
BlackRock State Street and Vanguard it could be top three with Raytheon but I
think it's three out of four if you go look up general dynamics if you go look
up
Boeing if you go look up you know Northrop Grumman okay and then you work
backwards and you say okay how much money is that in the in what these guys are
doing you'll find the are you know the amount of money we spent in our military
744 billion dollars on how much we're making from defense but you'll see some
numbers saying last year is 13% of our GDP which is around eight hundred and
fifty
billion dollars that's more than the next ten combined we gave more money to
Ukraine
than Russia spent on their military last year and when you look at these
contracts
then you're like okay Fink is there these guys are there okay let's go look at
Hollywood same thing you see there let's go look at pharmaceutical let's go
look at
this and you're like wait a minute these guys essentially have a monopoly well
how
big is BlackRock ten trillion dollars how big is ten trillion dollars only two
countries have a bigger GDP than what BlackRock has assets under management US
and China that's how big BlackRock is so then they went and they started
getting
all these other guys to sign on and say hey we want you to participate with the
same thing as well with ESG and they ended up having I think that 31 signers I
think end of 2022 they got 60 something signers for a total of 70 trillion
dollars
of assets under management that they're controlling so now they're controlling
other places and just recently if you saw the rebuilding of Ukraine did you see
this contract rebuilding of Ukraine 400 billion dollar contract BlackRock and
chase is helping rebuild Ukraine and then yeah okay I'm not a conspiracy theorist
but
what the hell is going on here they have that much control to get everybody to
do
what they want them to do yes so Dylan Mulvaney who cares why Bud Light how
does
that tie up you got the DEI the HRC the human rights and all this stuff and
then you go
even deeper which is even a crazier part with you know the education schools
like
you know the biggest union we have in America I think it's national education
something NEA is the largest union we have 3 million teachers are part of that
union and and you look at that and you go deeper and that would open society
and
who's funding it who's the money behind these organizations comes back Soros
Soros Soros
how do you feel about the kind of power they have right now to fight against
them
because this isn't like a billionaire can come out and say I'm gonna go up
against
these guys they don't have a little bit of money a billionaire to these guys is
nothing they got the kind of control that can make companies fire boards they
can
replace CEOs they can replace leaders if they don't like they have their hands
so
much into it where many times when people say they the people of power the
people of power I'm kind of like who are the people of power are you convinced
these guys are really running the world or what do you think about what some of
these bigger companies are doing like State Street Vanguard and Black Rock well
they certainly have massive amounts of influence what do you think they're
doing it's it's the question is how do you fight it like for example the way we
fight mainstream is by what the show that we do and we have to be patient it's
gonna
take two three four five ten twenty years now you have some influence right
okay we
can fight there is an actual strategy on how to fight that no problem you got a
kid in school who's a bully he's bigger than you he keeps bullying you you have
a
strategy on how to beat the guy you take a year jiu-jitsu two years this this
that
boom one fight he knows I'm never gonna touch you again screw this thing I'm
not doing this no more right there is a play to it when you have this much Joe
88% of S&P 500 companies that is a form of a monopoly if I'm a president
whether
it's a Trump or whoever else goes out there and does it our monopoly law in
America is 50% they say 50% like if you tie and said at what point is a 50% I've
done calls with the FTC like we had one of our guys technology we were using
the FTC called and said hey we want to have a call with you because they're
thinking about buying this other technology company and we're worried it's
gonna be a monopoly so we had the call okay at the end of the call with us with
a
bunch of different people we said we love their product we love their product
that
deal didn't end up happening okay the monopoly law some of these guys are
influencing it but they say 50% is a monopoly law do you know how many people
in America have an iPhone versus droid you know what the numbers market shares
in
America with iPhones I think it's like 60 58% 60% that is already a monopoly
but
who's knocking on the door of Apple Tim Cook saying hey Tim you got 58% that's
breaking a monopoly law nobody is I think someone's got a break apart you know
in
1993 I don't know which senator it was they these guys that were trying to get
the
defense contractors to be better at the pricing what they were charging because
they
were over charging DOD and DOD people don't know what the hell is going on they're
like
yeah okay how much 68 million dollars do it 1.2 billion dollars do it I'm not
going to
over negotiate the money they took 51 defense companies and they brought it
down to only
five it's only five companies right now when you want to buy anything think
about that
so defense contractors is five we know how these guys make money earlier you
know I was
asking you a question why do you think vaccine and you're like Pat that's how
they make their
money right I mean if a if you and I run a hotel rooms are empty we're not
making money we need
people to stay in the rooms if we and I running a hospital we need people on
the beds to make
money yeah if there's no people on the beds we ain't making money if these five
contractors
are fighting for 744 billion dollars what do they want more of wars they want
more people
done you know the Papa John saying better ingredients better pizza Papa John's
you know these guys is
more wars more people dying more profits defense contractors right that's a
valid concern that I
have because behind closed doors this whole military industrial complex when
you look at the numbers
whoever becomes the president unfortunately this guy's an anti-establishment
president good
unfortunately if you're an anti-establishment president everyone's going to
come after you
especially these military defense contractors so if a president got up and said
if I'm going to be the
president here's what we're going to be doing we have to look at all the
contracts you can't
overcharge us we have to open it up you have to sell some of your companies you
have to let them be
independent again you have to do this you have to let them go public separate
whatever way you got
to break them apart to have competition again because we don't have that today
you know so that is a major
concern where we say we have a commander-in-chief but really the commander-in-chief
is Larry Fink
today the guy running BlackRock is really the president of the United States if
we look at the kind of
influence he's got in every industry Joe and he's like well you know I kind of
feel bad I'm ashamed
that all the weaponization the word you know ESG is being used and all this
other stuff and Elon
tweeted about the ESG I don't know if you remember when Elon tweeted about ESG
saying the S in ESG is
satanic okay so this is a part where even a Charlie Munger who is Warren Buffett's
partner says look I love
Larry Fink but I'm not interested in having an emperor some words like that he
said about Larry
Fink so this motive and by the way Larry Fink is an interesting guy because he
majored in college
political science his aspirations was politics he accidentally got into money
and he learned to trade
and then he lost a hundred million dollars at 36 years old I think and then he
teams up with
Schwartzman and they start this company and after a couple years it got five
billion under management
eight billion and 32 billion and then they have a difference because you know
he wants to give
equity and Jamie's you know Schwartzman's like knowing they separate but
influence of politics you get
into business you're a billionaire it's you Soros so I'm I'm extremely
concerned about what these guys
are up to and we think our president is the most powerful person that prince is
not because being a
closers are going to be like look guys let's relax that guy's only going to be
there for four to eight
years we're going to be all right he'll be out we're running the world we're
okay we were running
America but now we're running the world we control all the ETFs in America we're
controlling all this
stuff everyone has to come through us and we can tell everybody what to do
because everybody fears
not getting money from us from being downgraded a Tesla on ESG score is nothing
but a Philip Morris
gets an A rating how the hell the company that's Philip Morris has a better
environmental social
governance score DEI you know not DEI but the CI the score they give it over
Tesla so they can bully
some of these guys now let me ask you this what do you think the goal of ESG is
what why do you think
they're establishing these sort of parameters like why why is ESG a thing and
what's the benefit of it
for them so Schultz said something very interesting Schultz says look these
guys are driven by money
they're not going to do anything to destroy an economy to lose their own money
because they want
that I said okay so very good Andrew Schultz I said that's a very good point uh
you know on what
you're saying fine so you know you know how sometimes Michael Jackson you see
the interview
with him with kids oh they're just sleeping in the bed that's all it is and we're
just having a great
time and we're storytelling and like yeah but I get it you know it's a little
weird you got a seven
eight year old ten year old kids sleeping in your bed and you know all this
stuff and just it's a
little bit fishy what you're talking about here it's not normal well if you're
in Hollywood and
you've slept with as many people at these people sleep and then eventually you
have to have other
options because what else do you have to try new things how many threesomes
have you had how many
this how many that so you start trying all these other things and sometimes
these guys go to such
and such place doesn't matter it's kind of weird and fishy right on what you
want to do great okay
so why are these guys doing what they're doing you have all the money in the
world you live in a
hundred million dollar house not you Larry Fink and some of these guys I'm not
I don't know if he lives
in a hundred million dollar house but you got some money to live in a hundred
million
what else do you need right you got nice cars Jamie Dimes got a 900 million
dollar art collection
according to an article it's a nice art collection right you go to all the nice
restaurants you meet
prime ministers you meet presidents and maybe there comes a time when you're
looking at a couple of
thes