[00:00] You have to force behaviors. At BlackRock, we are forcing behaviors. When you control that many shares, you can force companies to change without anyone really voting on it. How would they all agree to that? How do you get all these companies to go along with it?
[00:15] That just sounds like a grand conspiracy. Because if you could get the people who control the capital flow, aka money, to reward the companies that follow these goals and punish the ones that don't, that's where something called ESG comes from. It's basically a way of scoring companies
[00:28] on things beyond just making money, like their carbon emissions or the demographic makeup of their workforce. This is not a conspiracy. ESG actually came out in 2004. If the biggest investors in the world push companies in this direction, the money does all the enforcing for
[00:44] you. And the biggest investor in the world is BlackRock, which today manages more than $10 trillion. Because in 2025, Larry Fink became the co-chair of the World Economic Forum. Now, Today, this idea actually lives at the World Economic Forum, where the most powerful people
[00:58] in the world come together to talk about how they're all going to usher in this world agenda. And they want to get this done as fast as possible.