Black Rock, the Dutch East India Company on American Soil

Black Rock is the first asset manager with a foreign ownership to be able to have a domestic subsidiary that's able to do asset back management in China, as we know to gain those licenses from the CCP. So it should be no surprise to see him supplicating in his annual letter to CEOs in the way that he does. And by the way, just, so we've got an emperor in the US supplicating to China that's particularly scary. That was definitely the most important invisible cause for this new trend of stakeholder capitalism.