It is way past time for voting rights for shares held in mutual funds to pass through to the mutual fund shareholder instead of being voted by the fund manager.

Companies like Blackstone and Vanguard don't own shit for themselves; they only manage it on behalf of others. But they disenfranchise those others while they do it, and that's entirely fucking unacceptable!

[–] dependencyinjection@discuss.tchncs.de 2 points 5 days ago

Blackrock get the voting rights for the shares they hold for funds though and always go with the status quo.

[–] Kyrgizion@lemmy.world 19 points 5 days ago* (last edited 5 days ago) (3 children)

I mean, dystopian fiction has warned us about this for decades. Some of those companies are already more powerful than many nations, all we're still missing is the private corporate militaries. But something tells me we're real close to that reality as well.

As soon as more power can no longer be bought with cold hard cash, physical violence and power projection will inevitably follow.

[–] ChocoboRocket@lemmy.world 6 points 5 days ago

Don't worry, they'll make them all suicide drones so it's not technically an army!

Flying precision bombs in private hands, a totally normal thing any business could reasonably expect to need and use for standard business operations.

If the founding fathers didn't want corporations to have suicide drones they would have mentioned it in the constitution /s

[–] freeman@feddit.org 2 points 4 days ago (1 children)

Hasnt Microsoft built a Nuclear power plant? There was a post about it in the last few days

[–] Kyrgizion@lemmy.world 2 points 4 days ago (1 children)

Not built but they're restarting and leasing the Three Mile Island reactor. You know, the one that almost caused Chernobyl 2.0 by partial meltdown.

What could possibly go wrong?

[–] freeman@feddit.org 2 points 2 days ago

That sounds fun

[–] Peppycito@sh.itjust.works 3 points 5 days ago

Didn't Marx warn us about this?

[–] zante@lemmy.wtf 10 points 5 days ago

Well the size and power is not novel. And smaller companies have been broken up before now. But that was a different era.

I think that not enough people make the connection between political donations and government policy.

[–] just_another_person@lemmy.world 9 points 5 days ago (1 children)

No shit

[–] Lugh@futurology.today 12 points 5 days ago* (last edited 5 days ago) (1 children)

No shit

It's obvious to some of us, but not to many. Hence why it's so important to keep saying it. Particularly at a UN summit about the future.

[–] bbuez@lemmy.world 3 points 5 days ago

UN summit

sponsored by shell

I jest

[–] dalekcaan@lemm.ee 6 points 4 days ago

[–] Doombot1@lemmy.one 5 points 5 days ago

shocked pikachu