How big index fund and ETF providers have increased their sway over publicly-traded companies while potentially discouraging competition. What can be done about it?

Topics covered include:

How market share for assets under management has become increasingly concentrated with big fund complexes like Vanguard and BlackRock
What is a fiduciary relationship and how do asset managers serve as fiduciaries
Why do investors in index funds and ETFs have no input as to how fund sponsors vote on shareholder proposals
What percentage of outstanding shares do Vanguard and BlackRock own of publicly traded companies like Apple, Target, or gun manufacturers
How Vanguard and BlackRock use engagement and voting policies to influence publicly traded companies, particularly when it comes to climate risk and diversity
How ownership by Vanguard and BlackRock in publicly-traded companies in the same industry could discourage competition.
What can be done through regulation or through individual action to reduce Vanguard and BlackRock's influence