Larry Fink, the ‘most powerful person in Wall Street’ was recently in Spain and here are a few excerpts from the interview… But first, who is Larry Fink, I hear. He is the CEO of BlackRock, the largest money management firm in the world. If BlackRock were a country it would be the third largest economy on the planet – behind USA and China. Here then are a few quotes from the interview:
With respect to investments:
It’s a zero sum game. For some to win, others must lose (emphasis added).
I believe everything BlackRock does is sell hope.
Hope for who? Hope for what?
In the recent collapse of FTX (crypto exchange) BlackRock lost $18million. How did Fink respond to that?
We lost $18 million, which in the context of $9 trillion assets under management, was nothing.
It was nothing! And underlying the reply of course is that the only measurement worth using is that of money.
The value system is out there. Money, so-called wealth, over people. The flow has to be one way, some will lose (‘others’ – the majority?). Meanwhile, the Galilean peasant from the first Century hands the money to the thief; talks of a new era of hope for the poor. The flow for BlackRock mirrors what John saw on the isle of Patmos as he watched the boats head for Rome with their 28 cargoes inside, those cargoes including ‘human souls’. And then in a subversive way John drops into the narrative that the Lamb (appearing 7 times) is given for the four-fold description for humanity (7×4).
A big question – hence the title. Can BlackRock (and all like it) be influenced to move toward something more redemptive – by which I do not mean something perfect; can those such as Larry Fink be ‘converted’ in the sense of toward kingdom values; or is the whole system beyond hope – and if so when does the call to ‘come out of her my people’ need to be shouted?
No answers here from this person… the questions remain.
3 thoughts on “Influence, convert or no hope?”
I hope you and Gayle are well. I was just wondering if you had come across these guys yet – https://www.praxislabs.org/redemptive-entrepreneurship ?
Thanks Pete for the link. I had not come across them before. The three sectors and the response in each lays things out very clearly. Any idea what traction and where they are making headway?
If they went in a redemptive direction they could transform the planet and the lives of millions of the poorest people!! However I really feel that ‘mammon’ is very much the spirit of the age. I noticed it at a large shopping centre with my daughter which was like a temple to mammon. Even its structure with dome like windows and large paved spaces seemed reminiscent of a cathedral or ancient temple. I think I noticed it especially because I rarely go anywhere like that. People were wandering around unaware of others and in that setting we became dehumanised. There was a coldness and distance the opposite of the warmth of the kingdom of God. Yet I suppose among the shops were some ethical brands so even there it was not devoid of any hope? I would love to be optimistic about the coming of God’s kingdom on earth but from my personal standpoint I am waiting to see breakthroughs both in my family and in the world – mostly I see people turning their backs on Jesus these days. That can’t be the endgame though because God’s rescue plan cannot fail – and the gate’s of hell cannot prevail against the body of Christ/church – so we are told by Jesus himself!
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