November 20, 2025 • 46 mins
Are algorithms controlling American lives? In the finale of our three part series we conclude the fascinating story of the clash between two algorithms, one made by Netflix and the other crafted by perhaps the most powerful company in the world…BlackRock.
Support the show: https://redpilledamerica.com/support/
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
This is Red Pilled America.
Speaker 2 (00:08):
Before we start the show, just a reminder to share, like,
and subscribe to this podcast wherever you're listening to it,
and please give us a five star rating. It helps
us beat the big tech algorithm. Also, if you love
Red Pilled America, please consider supporting the show. You can
buy one of our one made in America products. We
have hats, candles, a book. That's right, we wrote a book.
(00:29):
Or you can become a backstage subscriber. Well you'll have
access to our entire archive and you can hear the
behind the scenes of each episode along with Patrick and
I are arguing over who's a better storyteller. Or you
can just make a donation to support the show. Please
visit Redpilled America dot com and click support or shop
in the topmenu. That's Red Pilled America dot com and
click support or shop in the topmenu. Support what you
(00:51):
love or it goes away. Thanks everyone.
Speaker 1 (01:01):
Previously on Red Pilled America.
Speaker 2 (01:03):
Netflix had a serious head start. Their recommendation algorithm was
getting better and better.
Speaker 1 (01:11):
In the next eight years.
Speaker 3 (01:13):
At every juncture where they had to make a decision
about where the entertainment industry was going, they were right
and the studios were wrong.
Speaker 1 (01:21):
By creating and fine tuning their recommendation algorithm for almost
fifteen years, Netflix understood the wants and desires of their
subscribers in a way the studios could only dream of knowing.
Speaker 2 (01:32):
As the years progressed, Netflix appeared to have the Midas touch.
Speaker 4 (01:37):
Their hit ratio is astaging.
Speaker 1 (01:39):
It's the envy of any Hollywood studio. Are algorithms controlling
American lives?
Speaker 2 (01:47):
I'm Patrick Curlci and I'm Adriana Cortez.
Speaker 1 (01:50):
And this is Red Pilled America, a storytelling show.
Speaker 2 (01:54):
This is not another talk show covering the day's news.
We are all about telling stories.
Speaker 1 (01:59):
Stories Hollywood doesn't want you to.
Speaker 2 (02:01):
Hear media marks, stories about everyday Americans of the globalist ignore.
Speaker 1 (02:08):
You could think of Red Pilled America as audio documentaries,
and we promise only one thing, the truth. Welcome to
Red Pilled America. We're at the finale of our three
(02:31):
part series of episodes entitled The Algorithms. If you haven't
heard the previous episodes, stop and go back and listen
from the beginning. We're looking for the answer to the
question are algorithms controlling American lives? By telling the story
of the clash between two algorithms, one made by Netflix
and the other crafted by one of the most powerful
companies in the world. So to pick up where we
(02:53):
left off, Netflix's success in original content was the envy
of Tinseltown. Where Hollywood studios had trouble picking a winner,
Netflix produced one hit its show after another. In just
twenty years. Netflix went from a floundering DVD rental by
mail business to surpassing the Walt Disney Company's annual production budget.
It was an astonishing, almost unbelievable feat. By twenty twenty,
(03:17):
Netflix had tallied over two hundred million subscribers. The company
was having unprecedented success, largely by using their powerful algorithm
to mine the likes and desires of their audience. But
in the midst of this success, Netflix began to take
a noticeable left turn for anyone paying attention. It was
an odd development from the early DVD days. Netflix was
(03:40):
popular with Middle America, and in its first original content
series in twenty twelve, Netflix appeared to make an attempt
at being even handed. I mean Kevin Spacey's House of
Cards villain character was a Democrat, but as the years progressed,
the company went woke. What happened? How did Netflix go
from having the mitas touched to instead touching a cultural nerve?
(04:01):
While the answer is Netflix's algorithm appeared to come up
against an even more powerful algorithm crafted by a social
architect looking to manipulate American culture. To understand how this
powerful algorithm was able to force its will on Netflix,
(04:23):
we first have to tell the story of its creator.
Speaker 5 (04:28):
When I was growing up the United States, was watching
The Great Society, which thought to summons the resources of
government to wipe out poverty.
Speaker 2 (04:39):
That's Larry Think. Larry was born in nineteen fifty two
to a well to do Jewish family.
Speaker 5 (04:44):
My mother was a college professor. My father owned a
shoe store.
Speaker 2 (04:47):
He was raised in Van Nuys, California, a suburb of
Los Angeles, and at ten.
Speaker 5 (04:52):
Years old, I was required to learn how to sell
shoes and help my father. Well, I learned how to
deal with people pretty early in my career, and it
was a great learning lesson how to deal with people,
how to appeal to people's needs, and I have pretty
good shoe.
Speaker 2 (05:06):
Salesman that Larry would grow out of his father's shoes
and go on to create arguably one of the most
powerful algorithms in existence. Larry Fink came of age in
the nineteen sixties at a time of great political turmoil,
as a.
Speaker 6 (05:20):
Time when the operation of the machine becomes so odious,
and you've got to indicate to the people who run it,
to the people who own it. But unless you're free,
the machine will be prevented pro working at all.
Speaker 3 (05:32):
The war between the sexes could become an arm of
God if we don't get on with our revolution. But
if we do get on with it, and we restructure
socided to make equality really possible, that I think the
war between the sexes will and and for the first
time we will have possible true human sexual liberation.
Speaker 7 (05:50):
The chairman of the Student Non Violent Coordinating Committee, Stokely Carmichael,
came forward with a new explosive frase, the.
Speaker 6 (05:57):
Free turn the Black people of the country can learn
at free, wanted white in front of think am and wanted.
Speaker 2 (06:10):
Power, radical feminism, the black power movement, Marxist college uprisings,
gender bending, long haired hippies. The political upheaval of the
nineteen sixties captured many an idealistic youth, and Larry Fink
was no doubt intrigued by the power of these radical
(06:31):
cultural movements to force cultural change. Like many who want
to make a social impact, Larry first looked to politics.
He went to UCLA in the nineteen seventies and received
a BA in political science, but he'd eventually realized that
politics wasn't what caused societal shifts. He'd later land on
the key mechanism that caused social change.
Speaker 5 (06:52):
To achieve what we're trying to do is it's about
talking about culture every day. There's not a day in
my job there's not a business trip where I visit
where I don't focus on culture.
Speaker 2 (07:04):
But it would take a fascinating career journey before he'd
land on that conclusion. By the end of his college life,
Larry Fink left politics and instead ventured down a path
(07:25):
that would lead him to his profound impact on culture
the world of finance. After graduating from UCLA in nineteen
seventy six with an MBA in real estate, Larry was
encouraged by a professor to interview with New York investment banks.
He secured a gig in the mortgage bond department of
First Boston, and this is where Larry began his journey
(07:47):
to cultural domination by taking wild gambles and risky bets.
Larry became one of the highest earners in the firm,
generating over a billion dollars by pioneering a new type
of financial product, one thing called a mortgage backed security.
Larry Fink would later recall this fast moving time.
Speaker 5 (08:10):
We were making so much money, and we had no
idea why we were making so much money. We had
just extraordinary risk and there was no risk systems then,
and nobody bothered to ask us, how are you making
so much money.
Speaker 2 (08:23):
By the age of twenty eight, he became the youngest
partner at First Boston, and he was being talked about
as the future CEO of the company. That his gambling
would eventually catch up.
Speaker 5 (08:34):
With him, and the firm gave me a lot of
responsibility at a very young age, and for many years
I achieved what they asked me to do, and then
I did it.
Speaker 2 (08:42):
He made a mistake that would change the course of
his life. Thinking that interest rates were going to rise,
Larry Fink had his traders take a huge stock market
position based on that prediction. But by nineteen eighty six
it became clear that Larry's interest rate prediction was wrong.
Speaker 5 (08:59):
Tonight, the American people deserve our thanks for thirty seven
straight eight months of economic growth.
Speaker 3 (09:05):
Interest rates cut in half.
Speaker 2 (09:06):
Interest rates didn't increase, they were reduced dramatically. Larry Fink's
investment Campbell went bust after his meteoric rise stacking win
after when his team lost one hundred million dollars on
his prediction. Larry went from a hero to a zero
in a matter of months.
Speaker 5 (09:25):
I was just mortified in myself. Let's be clear, the
failure wasn't anybody else's but mine, and the firm one
of the fire a bunch of people for that loss.
And I told the firm, you need to fire me then,
and if you're going to fire them, fire me. And
they wouldn't do it. So everybody stayed by the way.
But I didn't believe that because I was ultimately responsible
for that position. I mean, and I never forgave myself.
Speaker 2 (09:45):
He didn't forgive himself for not understanding the risk associated
with his investment positions.
Speaker 5 (09:50):
But it took me a year and a half to
try to search what I wanted to do, and it
was very clear during that year and a half, not
only did we not understand the risk. There were so
many other companies that really didn't understand the risk and
most importantly, the buyside. The investors had no idea the
risk they were taking, and there was a great need
for a company that starts off of a high concentration
and risk analytics.
Speaker 2 (10:09):
Larry Fink never wanted to go through that fiasco again,
and he knew others in the investment world were also
playing the same dangerous game. So he wanted to create
an investment firm that centered around risk analysis and management
(10:30):
that he needed money to get started. He approached an
investment firm and pitched the founders on his idea.
Speaker 5 (10:36):
I told the story is Steve Schwarzon and Pete Peterson,
and they loved it, and they had more confidence in
me than I had myself. They wanted to go right ahead.
Speaker 2 (10:42):
In nineteen eighty eight, they gave him five million dollars
for a fifty percent stake in a bond investment firm
that focused on risk management. The company would eventually be
called Black Rock. Larry Fink started off with the very
small team.
Speaker 5 (11:00):
So when we started the company with eight people in
one room with no business, twenty five percent of the
hires were technologists.
Speaker 2 (11:07):
Their initial approach to risk management was simple. Each day,
they'd take risk report printouts and meticulously flip through the pages,
comparing the company's investment portfolio on that day to the
day before, searching for unstable areas. Their risk analysis was
done entirely by hand, but this simple manual auditing practice
delivered phenomenal results.
Speaker 5 (11:29):
We actually started making money within two weeks.
Speaker 2 (11:31):
By the following year, the assets under Black Rocks Management
grew from zero to two point seven billion. By the
end of nineteen ninety two, they were managing seventeen billion
in assets. Things were going good, but Larry Fink was
about to implement an idea that would send the company
into the stratosphere.
Speaker 1 (11:55):
History shows that every market eventually falls, every currency collapses,
and today the US dollar is hanging by a thread.
Trillions in national debt record high markets to find gravity,
but stocks can't go up forever. Meanwhile, your groceries, housing,
and transportation costs are all going up, and your dollar
it's buying less every single day. So when the system breaks,
(12:18):
when the crash hits, your stocks won't save you, and
your dollars won't either. But one thing will. Gold. Gold
has always survived a collapse. That's why central banks are
buying gold by the ton, Billionaires are stocking up, and
every day Americans are protecting their savings in retirement with
physical gold before the next shoe drops. Don't wait for
(12:38):
headlines when the panic sets in it's too late. Call
Lear Capital now at eight hundred four eight zero one
one zero zero to get your free twenty twenty five
gold investment kit and protect your wealth if the system
breaks with real physical gold. With over three billion dollars
in transactions and thousands of five star reviews, Lear is
(13:00):
your leading source. Call now and get up to fifteen
thousand dollars in bonus gold with a qualified purchase. Call
eight hundred four to eight zero one one zero zero.
That's eight hundred four to eight zero one one zero zero.
Keep in mind that any investment has a certain amount
of risk associated with it, and you should only invest
if you can afford to bear the risk of loss.
(13:21):
Before making investment decisions, you should carefully consider and review
all risks involved. Welcome back to red pilled America. So
after losing one hundred million dollars from risky investments, Larry
Fink launched black Rock in nineteen eighty eight, an asset
(13:42):
management firm that focused on investing in bonds from a
risk management perspective. His team would meticulously compare the day's
investment portfolio against printouts from the day before, and this
simple analysis delivered remarkable results. From nineteen eighty eight to
nineteen ninety two, the assets they managed grew from zero
(14:03):
to seventeen billion dollars. But Larry Fink was about to
implement an innovation that would send the company into the stratosphere.
In the early winter of nineteen ninety three, a Blackrock
analyst had an idea. Instead of printing out and reviewing
their entire portfolio by hand, why not take the data
sorted into a database and then have a computer compare
(14:25):
the report today versus the report from the day before,
across every single one of the company's stock market positions.
It sounds logical today, but this was nineteen ninety three.
The first widely used web browser wasn't released until that
same year. Everything Blackrock analysts were doing was largely done
(14:46):
by paper, but with technology advancing, Larry Fink's analysts were
looking for shortcuts, and it was this simple insight that
led to a monumental innovation. While Larry loved the idea
and he decided to move forward with it. They called
their new algorithm Asset layab Ability and Debt Derivative Investment Network,
or ALADDIN for short, and this new algorithm produced startling results.
(15:13):
The firm went from managing seventeen billion dollars in assets
right before the creation of ALADDIN to a whopping fifty
three billion by the end of nineteen ninety four, just
a year after creating the algorithm. Larry Fink was now
one of the first in the industry to rely on
an algorithm to make investment decisions. To continue BlackRock's staggering growth,
(15:35):
Larry wanted to offer more stock options to attract talented analysts.
His original investment partner, Stephen Schwartzman, didn't want to dilute
his own ownership state, so he rejected Larry Fink's plan.
A few developed and Larry decided he needed to part
ways with his original investor. In nineteen ninety four, he
(15:56):
found someone to buy out Schwartzman's stake in black Rock
for two hundred and fifty million dollars. Larry now had
complete control of the company and it must have been
scary because that same year, Aladdin's algorithm was going to
be put to the biggest test of its young existence
by General Electric. Over a decade earlier, famed American executive
(16:17):
Jack Welch became CEO of General Electric or GE. Under
Jack's leadership, GE entered new industries such as media and finance.
In one acquisition, GE purchased respected securities firm Kidder Peabody
and Company. But soon after the acquisition, Kidder Peabody was
caught in an insider trading scandal. A few years later,
(16:37):
accounting fraud was added to their troubles. Jack Welch realized
that the firm was infected by a culture of corruption,
and by nineteen ninety four he decided he wanted to
sell the company. Kidder Peabody were holding some valuable assets
that they were mixed in with a large number of
(16:58):
complicated financial assets called mortgage back bonds. Jack Welch founded
him investment bank that was willing to purchase the company's
healthy assets, but didn't want the toxic part of their portfolio.
So Jack needed someone to help weed out these toxic
assets so that the investment bank could purchase what was left.
No one on Wall Street wanted to take on the
(17:19):
job of finding the junk. No one except Larry Fink.
You see, the type of assets that Kidder Peabody held
were right in Larry's wheelhouse. He'd pioneered the creation of
(17:42):
mortgage backed securities, and as a Laddin algorithm had been
churning through data in the global bond market for several years.
If anything could find these toxic critters in Kidder Peabody's
investment portfolio, it was Aladdin. So Jack Welch hired Larry
Fink to separate out those bad apples and sell off
what was left. It was the first real test of
(18:02):
whether or not Aladdin truly worked. For days, his team
of analysts used Aladdin around the clock to comb through
the data, repackage the valuable assets, and sell them off
to the investment bank. To everyone's astonishment, the algorithm pulled
off the complicated task. It was a breakout moment for
(18:24):
Larry Fink. He gained the reputation as the financial doctor
that could cut out the cancerous elements and guide a
company to health. Through the mid to late nineties, Blackrock
continued to feed the Latin data on the global bond
market and the algorithm became smarter and smarter. Aladdin got
so good at picking winners and losers that Blackrock began
(18:46):
selling access to their data to outside firms. The company
continued its staggering growth, and the industry began taking notice.
Speaker 8 (18:54):
His open secrets to success is a massive computerized system
called a Latin, which can instantly monitor millions of trades
and analyze comes from millions of portfolios based on even
slight chefs in the economy.
Speaker 1 (19:08):
In nineteen ninety nine, as Netflix was still floundering around
trying to find a business model that worked, Blackrock went public.
By the end of the year, it was managing one
hundred and sixty five billion in assets, and the company
was well positioned for a Building Wall Street catastrophe.
Speaker 4 (19:25):
It's described as nothing short of breathtaking, a points drop
never before seen on the US markets, whose closing bill
might as well have been an alarm, so savage was
the selling.
Speaker 1 (19:40):
As the dot com bubble burst, investors looked to shift
their money away from internet stocks and into this safety
of low risk bonds. A tsunami of capital flooded into
the very domain that Larry Fink ruled.
Speaker 7 (19:53):
In two thousand and one, twelve years after the launch
of Blackrock, Fortune referred to that company as perhaps the
greatest success story on Wall Street the past half decade.
Speaker 1 (20:04):
By two thousand and four, Blackrock was managing nearly four
hundred billion dollars in assets. Two years later, the number
bloated to an astronomical size with.
Speaker 7 (20:14):
The recent merger with Merrill Lynch. Larry oversees the management
of more than one trillion dollars in assets.
Speaker 1 (20:22):
Aladdin was helping Larry Fink gobble up Wall Street firms
at a jaw dropping rate, and the algorithm was just
getting started.
Speaker 2 (20:30):
By two thousand and eight, Larry Fink was thinking about
something that had captured his mind going back to his
college days. Culture.
Speaker 5 (20:37):
So we have now over five thousand employees, we have
five hundred investment professionals, were in eighteen countries. And this
is a problem. And the problem is, how do you
mesh an organization to have one common culture? How do
you mesh an organization that have a common belief that
leadership in Taiwan can think and act no differently than
(21:01):
leadership in Melbourne or a leadership in New York. So
the core of any organization, and certainly a core at Blackbrook,
which we commonly discuss is the foundation of culture.
Speaker 2 (21:14):
The timing of this realization couldn't have been better because
the influence of Blackrock was about to rival entire nations.
You see, a financial product that Larry Fink pioneered was
exploding within the banking system, and Larry must have known
it was coming all along. By two thousand and eight,
Aladdin had been analyzing stock market risk for fifteen years.
(21:37):
After analyzing trillions of trades, his algorithm was becoming more
and more intelligent and powerful. It had become so good
at analyzing risk that it allowed Larry Fink to largely
avoid the perils of the toxic asset he pioneered, mortgage
backed securities, and his firm was about to cash in
(21:57):
on the chaos.
Speaker 9 (22:00):
The Dow tumbled more than five hundred points. Two pillars
of the Street tumbled over the weekend. Lehman Brothers, a
one hundred and fifty eight year old firm, filed for bankruptcy.
Speaker 2 (22:10):
In September two thousand and eight, the banking crisis hit
the global economy. It was thought to be the worst
financial crash since the Great Depression, and it wasn't long
before leaders in the finance world honed in on the
source of the crisis. It was mortgage backed securities tied
to real estate. Basically, the investment portfolio of banks were
(22:31):
littered with bad loans and these toxic assets were taking
them down. There was really only one man that understood
how to pull the economy out of this mess, and
it was the same man that created these complex financial products,
Larry Fink, and.
Speaker 8 (22:46):
As an expert on mortgage backed securities, it was called
in to help and to clean up, with people like
Hank Paulson and Jamie Diamond and Tim Geidner on speed dial.
Speaker 2 (22:56):
Tim Geidner was the US Secretary of the Treasury.
Speaker 8 (22:59):
I read a note that said there was a day
in which Geidner called him twenty one times in a day.
Larry Fink helped engineer a remarkable rescue for the financial industry.
Speaker 2 (23:09):
It was BlackRock's algorithm that decided which banking assets should
be saved in the massive US federal bailout package, and
other countries turned to Blackrock for help as well. Japanese
and European central banks used Aladdin to help decide where
their country's bailout money should go. Larry Fink was becoming
the savior of Wall Street for rescuing an industry from
(23:30):
a financial product he'd created.
Speaker 10 (23:33):
We are talking about Larry Fink. Larry's the CEO of Blackrock,
the man who they say seems to know at all
when it comes to the US financial crisis, because he's
in charge of sorting out a lot of the mess
that has gone on in the last one and a
half years.
Speaker 2 (23:47):
In the wake of the financial crisis, Financial News named
Larry Fink the CEO of the Decade. By twenty fourteen,
Blackrock continued gobbling up other investment firms. It ballooned in size,
managing four trillion in assets, making it the world's largest
(24:10):
asset manager. And it was around this time that Larry
discovered a hidden power amongst all of the companies he'd acquired.
Each trading, asset, asset management, and investment firm that he
acquired was running on separate computer platforms.
Speaker 5 (24:24):
And when we acquired Malem in two thousand and six,
we were surprised that it had eighteen operating platforms. And
then we acquired in two thousand and nine BGI, and
it was considered one of the pre eminent investment firms.
ICE shares was a part of that. It had over
one hundred different technology platforms because every little business had
(24:45):
its own little silo and technology and they didn't connect.
Speaker 2 (24:48):
What Larry Fink wanted to do was consolidate all of
these separate platforms into one overarching algorithm that governed all
of Black Rock's assets. Aladdin would be that single platform,
and by doing so, Larry Fink could begin to craft
one common culture throughout his entire multinational company.
Speaker 5 (25:07):
What's so important about Aladdin for us was we have
one technology pipe worldwide that connects everything we do at
the firm, and everything from client connectivity to all risk
management worldwide is under one common platform. Having one singular
pipe one hundred countries worldwide is everybody believing in having
(25:29):
one pipe. And that's important that everybody culturally believes that
we have one connective tissue that's connecting the whole organization
and information that actually builds culture too. So to achieve
what we're trying to do, it's about talking about culture
every day. There's not a day in my job, there's
not a business trip where I visit where I don't
(25:49):
focus on culture. And all the other leaders do that,
and we obviously try to live that culture that we
talk about. So it's not some BS conversation that says
done a wall it is it's how we live every day.
Speaker 2 (26:03):
Larry Fink was creating one common culture across his entire company,
a company that reached into every industrialized capitalist nation in
the world. But the twist was that Blackrock was not
a normal, run of the mill company. It was the
firm that leaders of finance, leaders of nations turned to
to decide what a good investment was and what was not.
(26:26):
And this is where things got interesting. You see, the
Aladdin algorithm had become the central nervous system for many
of the biggest players in the global investment management industry.
What Blackrock deemed a safe investment was now considered safe globally,
and what it considered a risky investment, well, let's just
(26:47):
say that smart money stayed away from any company Blackrock
deemed risky. By achieving this global status, by basically becoming
one of the primary operating systems of the entire global
investment industry, the architect of this algorithm could begin to
impose shows his beliefs on any and every corporation tied
to Wall Street, including streaming services like Netflix. All he'd
(27:11):
need to do is redefine what it meant by the
word risky.
Speaker 1 (27:22):
Life is short. It's important to surround yourself with people
you love, do the things that make you feel happy,
and if you're me, eat delicious licorice. I've got the
latter covered thanks to fresh and delicious licorice from The
Licorice Guy. If you're an avid listener of RPA, then
you know that licorice is my jam and that it
does not get any better than the gourmet licorice made
(27:44):
by the Licorice Guy. They have a great selection of
flavors to choose from, like red blue, raspberry, black, and
green apple, just to name a few. The freshness of
their licorice is unlike anything you've ever tasted in licorice before.
If you haven't tried the Licorice Guy yet, then you're
living a life unfulfilled. Trust me, you will not regret it.
I also love about The Liquorice Guy is that it's
(28:05):
an American family owned business. We are big proponents of
buying American and supporting American workers. Right now, Red Pilled
America listeners get fifteen percent off when you enter RPA
fifteen at checkout. Visit licoriceguide dot com and enter RPA
fifteen at checkout. That's licoriceguide dot com.
Speaker 2 (28:28):
Do you want to hear red Pilled America stories ad free?
Then become a backstage subscriber. Just log onto Redpilled America
dot com and click join in the topmenu. Join today
and help us save America one story at a time.
Welcome back to Red Pilled America. I'm Adriana Quortes.
Speaker 1 (28:48):
So.
Speaker 2 (28:48):
By twenty sixteen, the Aladdin algorithm had grown so influential
that it had become one of the primary operating systems
of the entire global investment industry. The algorithm was interpreting
which investments were safe and which were risky. Practically everyone
in the finance world was influenced by its output. Aladdin
had become to Wall Street what Microsoft Windows is to
(29:11):
your personal computer, or what the Apple operating system is
to your iPhone. Aladdin touched a massive portion of the
global investment market. Black Rock CEO Larry Fink recognized this
new global power, and he was about to use this
newly acquired status to impose his woke beliefs on any
and every corporation tied to Wall Street. All he had
(29:32):
to do was to redefine what the word risk meant,
and there was a new, woke movement in the investment
world that would help him in that effort.
Speaker 1 (29:41):
Just as Aladdin was rising to supremacy, a concept was
also infecting portions of Wall Street, a concept known as
ESG investing.
Speaker 11 (29:51):
Causes like protecting the environment or promoting social equality haven't
always been factors considered when evaluating investments, but an approach
to investing called environmental, social and governance investing, or ESG,
is changing that.
Speaker 1 (30:12):
ESG investing is an attempt to change the definition of
what it means to be a risky investment. For as
far back as the eye can see, investors have always
had a very traditional set of parameters of how they
invest their money, things like are the people or company
I'm investing in reliable? Is their business returning a legal profit?
(30:33):
Is the return on investment in company A as good
or better than if I put my money in company B.
Things of this nature. The investment community has survived and
thrived for hundreds, even thousands of years on traditional measures
of investment risk. While ESG investing look to change all
of that by adding a new parameter.
Speaker 11 (30:53):
You might hear other terms used for ESG investing like
socially responsible investing, sustainable investing, values based investing, and impact investing.
What these terms have in common is that they describe
an approach to evaluating investments based not just on traditional
measures of financial risk and return, but also by factoring
(31:14):
in their effect on society and the world. This may
include selecting investments based on a company's environmental impact like
pollution and animal welfare, social impact like human rights or
fear compensation, and governance factors such as having a diverse workforce,
executive team, or corporate board. However, ESG investing is about
(31:37):
more than just investing with a clear conscience. Some investors
believe that companies with HIGHESG ratings have the potential to
outperform those.
Speaker 12 (31:46):
That do not.
Speaker 1 (31:47):
The concept of socially responsible investing is not new, Like
many bad ideas, It was born in the nineteen sixties
and was soaked in good intentions. Back then, activist investors
would exclude stocks or inn entire industries from their investment
portfolios based on a business's activities, things like if they
(32:08):
produced tobacco, alcohol, or firearms or if they benefited from
the South African apartheid system. But it wasn't until two
thousand and four that a coordinated campaign was launched to
inject ESG investing into the entire international financial community. It
came from that diabolical global body that seems to cause
so much trouble in the world, the United Nations. In
(32:31):
two thousand and four, former UN Secretary General Kofianon invited
CEOs of some of the world's most prominent financial institutions
to participate in a UN global initiative. The goal was
to integrate socially responsible investing into the world of finance.
A year later, the initiative published a paper entitled Who
Cares Wins. In it, the group argued that integrating environmental,
(32:55):
social and governance factors ESG factors into capital markets not
only led to a better society, but would also result
in higher profits. ESG investing was born. The report was
packed with scientific charts and expert opinions, the same type
of marketing materials that the UN has published to argue
(33:16):
for global warming legislation. It was obvious to anyone paying
attention that ESG investing was just another way for the
UN to force climate change policies on corporations, But it
wasn't long before the far left activist portion of Wall
Street could see that ESG investing could also force corporations
to adopt the entire woke agenda, and they got to work.
(33:45):
In two thousand and six, the New York Stock Exchange
launched an organization to develop ESG principles. The following year,
the UN launched another initiative that encouraged and monitored ESG
investing throughout the global capitalist system. Industrial leaders didn't pay
it much attention, but as the years progressed, the industry
began to take notice, and it was largely because Larry
(34:08):
Fink used this new movement to impose his values on
the entire investment ecosystem. And how did he do this Well,
Remember Blackrock is the firm that defines whether an investment
is safe or risky. Larry Fink began to argue that
if a company didn't adopt these ESG values, then maybe
the company was no longer a safe investment, maybe they
(34:31):
were even a risky gamble. Risk was redefined, and this
new definition started to become encoded into the analysis of
whether an investment was or was not attractive. Companies began
popping up that gave corporations an ESG rating. They measured
a company's impact on global warming, whether they had an
ethnically diverse board of directors and management, whether they were
(34:54):
putting a socially conscious product into the world, and so on.
If the company received a high ESG rating, they were
successfully implementing socially us responsible practices and as a result,
they were a safe investment. But if the company received
a low ESG rating, not only were they failing at
being socially responsible, they were now a risky gamble. The
(35:15):
incentive for companies to start implementing ESG into their culture
began to rise. The investment community snapped back, arguing that
(35:35):
their sole responsibility was to maximize shareholder value, an argument
that was backed by the law. But the pressure for
corporations to start implementing ESG into their company's culture became
undeniable when Blackrock began publicly promoting the ESG mantra.
Speaker 12 (35:52):
Let's flash back to driving a car. Fifteen years ago.
Drivers would use rare and wing mirrors to merge, reverse
and park. Today, thanks for advancements in technology, we have
cars with cameras, collision warnings, and parking centers. These evolved
safety features give drivers a more complete view of their surroundings,
helping them make better decisions. The same thing is happening
(36:15):
with investing. While traditional financial analysis still anchors investment decisions,
the greater availability of sustainable data today gives investors a
more holistic view of the companies they invest in. Sustainable
investing uncovers environmental, social, and governance or EESG related risk
and opportunities that traditional security analysis may overlook. By giving
(36:38):
investors a more complete view, sustainable investing can help identify
companies that may be better positioned to manage sustainability related risks.
Speaker 1 (36:46):
Now, if you wanted to be viewed by investors as
an attractive investment, ESG values had to become a part
of your corporate culture.
Speaker 2 (36:55):
This paradigm shift was all happening right around the time
that companies like Netflix began to take a hard woke turn.
As you may remember, when Netflix first got into streaming,
its algorithm was helping the company decide which shows to produce.
It gave the company that insight by mining the likes
and desires of its subscribers, and because of their algorithm.
(37:17):
Netflix became the envy of Hollywood, producing one hit show
after another, House of Cards, The Crown, Stranger Things, Narcos, Ozark.
But around twenty eighteen, the streaming service began to put
out some pretty woke shows.
Speaker 5 (37:32):
Access to abortion is good and important.
Speaker 2 (37:35):
Some people say abortion is killing a baby.
Speaker 5 (37:38):
It's not.
Speaker 3 (37:39):
It's stopping a baby from happening. It's like back to
the future.
Speaker 8 (37:43):
An abortion is the DeLorean, and everyone loves Deloreans.
Speaker 2 (37:48):
The timing was likely no coincidence. Blackrock had recently become
a major investor in Netflix, and earlier that same year,
Blackrock CEO Larry Fink published a letter that was a
warning shot across the bow of corporate America.
Speaker 8 (38:02):
If I want to put a question to all of you,
I think we can all agree that a corporation has
a duty to maximize returns for their shareholders.
Speaker 1 (38:10):
But does a.
Speaker 8 (38:10):
Corporation also have a duty to society. That is a
question that is at the heart of a letter our
speaker recently sent to all of the major CEOs in
the United States and others around the globe. In the letter,
he says that the public expectations of your company have
never been greater. I mean, I'll just quote an exact
(38:31):
line from your letter. Every company must deliver not only
financial performance, but also show it makes a positive contribution
to society. He closes with a subtle but unmistakable warning
to hold them accountable for not only doing well, but
also doing good. Now, not everyone can credibly make the threat,
but our speaker tonight is Larry Fink, the CEO of Blackrock,
(38:55):
which is the largest financial asset manager in the world
with six brillion dollars in assets under management. Now, I
want that to really sink. In six trillion dollars. That's
considerably larger than the proposed federal budget the President just
(39:15):
released today.
Speaker 2 (39:16):
What he was basically saying was corporate America support our
ESG woke agenda or lose access to our massive investment funds.
If you've ever wondered why corporations in a capitalist country
we do and say so many things that would turn
off half the nation. You can thank ESG investing. If
they don't virtue signal, they lose access to trillions of
(39:38):
investment funds managed by companies like Blackrock.
Speaker 5 (39:41):
One of the things that you've been outspoken on, and
that's environmental, social.
Speaker 12 (39:44):
And governance ESG investing.
Speaker 5 (39:45):
We've been very aggressive in building out analytics and data
so we could look at and review and judge companies
through the lens of better understanding of how companies move
forward in a decarbonizing world.
Speaker 1 (39:59):
So this letter, you think is the most important letter
you've ever written.
Speaker 5 (40:03):
I believe the companies that have purpose are the best
companies in the world because it unites their employees, it
connects the clients, but most importantly, it brings the organization
onto a common plane. And I think that's very vital.
And you know, and you know, the best companies that
I know of are the ones that work towards a purpose.
(40:25):
Because so many of us use the Internet for communication,
you have ability to do word analysis related to every company.
Most companies have blogs. You could go on blogs and
find out what is the opinion of a company.
Speaker 2 (40:41):
And it wasn't just corporations that would feel the impact.
The new pressure would trickle down to Americans at large.
Speaker 5 (40:48):
So this ESG stuff is really being utilized to control society.
Speaker 2 (40:54):
Executive Director of Consumer Research Will hild saw Blackrocks Power
move as an n run around the legislative process.
Speaker 13 (41:01):
Black Rock has been the leader and in some ways
the ring leader of all of Wall Street in pushing
something called ESG investing. But really what ESG is is
an excuse for Wall Street to push politics into corporate America.
They can push in their own environmental policies, they can
push in social and governance policies that could never be
achieved at the ballot box. But Blackrock uses the nearly
(41:22):
ten trillion dollars of assets they have under management. It's
not their money, it's state, local, federal pension funds and
other institutional money to push politics into corporate America.
Speaker 2 (41:34):
Back Blackrock and woke Wall Street use ESG investing to
force their woke agenda on corporations. If corporations don't get
a high ESG rating, Blackrock will label them a risky
gamble investment money could dry up, sending their stock price tumbling.
In essence, Blackrock is using the same playbook as big tech.
(41:57):
If you don't adopt their ESG values, you effectively get
kicked off of their platform and lose access to the
te brillions of investment dollars they manage. That's what corporations
began to face, and it was all being enforced by
Black Rocks. Algorithm Aladdin was quickly being considered as more
powerful than traditional politics. Understanding this new force in America
(42:20):
illuminates the outcry over Dave Chappelle's Netflix special the closer.
The drama over Dave Chappelle's transgender jokes was actually a
clash between two algorithms. On one side was Netflix's algorithm,
pushing the streaming company to produce a show that was
popular with their subscribers, and on the other side was
Aladdin's algorithm, incentivizing corporate America to enforce its ESG values.
(42:45):
There wasn't really a broad outcry over Dave's transgender jokes.
Only a few dozen out of thousands of Netflix employees
actually walked out in protest.
Speaker 7 (42:54):
Today, several dozen of Netflix's thousands of employees walked off
the job, demanding the company better support its transgender workers.
Speaker 2 (43:03):
Its higher outrage was a corporate media fabrication fueled in
large part by this new ESG paradigm. Publicly traded corporations
are now incentivized to incorporate woke ESG values into their
company culture, because the higher their ESG rankings, the better
the company will look. To black rocks behemoth risk management
(43:23):
algorithm Aladdin, which in turn opens the investment world to
their company. So the entire corporate media ecosystem is incentivized
to incorporate wokeness. They hire employees that align with this
woke agenda, they put woke products into the marketplace, and
when someone ventures outside of the authorized boundaries, the media
mob is unleashed. When Dave Chappelle was attacked for his
(43:46):
transgender jokes, it wasn't really a widespread public outcry. It
was a corporate media pressure campaign hell bent on enforcing
this new ESG window of allowable speech, and in the
eye of the storm, it appeared the comedian himself understood
the nature of the attack.
Speaker 14 (44:03):
I want everyone in this audience to know. And even
though the media frames is that it's me versus that community,
it's not what it is. Do not blame the LBGTQ
community for any of this shit. This has nothing to
do with them. It's about corporate interest and what I
can say and what I cannot say.
Speaker 1 (44:39):
Which leads us back to the question are algorithms controlling
American lives? The answer depends on who you are. For immoral, ignorant,
dependent men and women, the answer is yes. Algorithms not
only control them. Those types of people actually are the
dangerous algorithms. They are the real life extension of the code,
(45:00):
the human enforcers of the algorithm's cre We didn't care.
Speaker 14 (45:04):
What name shab we're doing until you come our community.
Speaker 1 (45:08):
What people need to realize is that in a sense,
we all of us are the algorithm. We are the
ones that choose to act on these ridiculous tasks. Algorithms
whip us up into performing in the real world.
Speaker 13 (45:20):
There's a lot of argument that algorithms cause arguments and.
Speaker 4 (45:24):
Cause strife, all this stuff.
Speaker 13 (45:27):
That people are saying like, oh, the algorithms are tearing
us apart, Like no, we're tearing us apart.
Speaker 1 (45:33):
Algorithms can be written to control our behavior, but we
can also use algorithms against those that try to control us.
When Aladdin's ESG algorithm came for Dave Chappelle, the Netflix
algorithm pushed back, the people pushed back, and the ESG
algorithm was defeated.
Speaker 14 (45:49):
You have to answer the question, am I canceled or not?
Speaker 1 (45:54):
So the next time you hear that woke algorithms are
controlling our lives, don't fear because in reality, woke algorithms
don't stand a chance against me, moral, god loving Americans.
Speaker 15 (46:05):
Netflix has changed its internal memo warning employees that they
may have to work on harmful content and that viewers
will decide what's appropriate for them versus having Netflix sensored
diverse content. The new memo goes on to say that
if employees feel that their work is perceived as harmful
to them, the Netflix may not be the best place
(46:26):
for them to work.
Speaker 2 (46:27):
Red Pilled America is an iHeartRadio original podcast. It's produced
by me Adriana Cortez and Patrick Carrelci for Inform Ventures.
Speaker 10 (46:35):
Now.
Speaker 2 (46:35):
You can get access to our entire back catalog of
episodes and are behind the scenes podcast by becoming a
backstage subscriber. To subscribe, just visit Redpilled America dot com
and click join in the top menu. Thanks for listening.
This is Red Pilled America.
Speaker 2 (00:08):
Before we start the show, just a reminder to share, like,
and subscribe to this podcast wherever you're listening to it,
and please give us a five star rating. It helps
us beat the big tech algorithm. Also, if you love
Red Pilled America, please consider supporting the show. You can
buy one of our one made in America products. We
have hats, candles, a book. That's right, we wrote a book.
(00:29):
Or you can become a backstage subscriber. Well you'll have
access to our entire archive and you can hear the
behind the scenes of each episode along with Patrick and
I are arguing over who's a better storyteller. Or you
can just make a donation to support the show. Please
visit Redpilled America dot com and click support or shop
in the topmenu. That's Red Pilled America dot com and
click support or shop in the topmenu. Support what you
(00:51):
love or it goes away. Thanks everyone.
Speaker 1 (01:01):
Previously on Red Pilled America.
Speaker 2 (01:03):
Netflix had a serious head start. Their recommendation algorithm was
getting better and better.
Speaker 1 (01:11):
In the next eight years.
Speaker 3 (01:13):
At every juncture where they had to make a decision
about where the entertainment industry was going, they were right
and the studios were wrong.
Speaker 1 (01:21):
By creating and fine tuning their recommendation algorithm for almost
fifteen years, Netflix understood the wants and desires of their
subscribers in a way the studios could only dream of knowing.
Speaker 2 (01:32):
As the years progressed, Netflix appeared to have the Midas touch.
Speaker 4 (01:37):
Their hit ratio is astaging.
Speaker 1 (01:39):
It's the envy of any Hollywood studio. Are algorithms controlling
American lives?
Speaker 2 (01:47):
I'm Patrick Curlci and I'm Adriana Cortez.
Speaker 1 (01:50):
And this is Red Pilled America, a storytelling show.
Speaker 2 (01:54):
This is not another talk show covering the day's news.
We are all about telling stories.
Speaker 1 (01:59):
Stories Hollywood doesn't want you to.
Speaker 2 (02:01):
Hear media marks, stories about everyday Americans of the globalist ignore.
Speaker 1 (02:08):
You could think of Red Pilled America as audio documentaries,
and we promise only one thing, the truth. Welcome to
Red Pilled America. We're at the finale of our three
(02:31):
part series of episodes entitled The Algorithms. If you haven't
heard the previous episodes, stop and go back and listen
from the beginning. We're looking for the answer to the
question are algorithms controlling American lives? By telling the story
of the clash between two algorithms, one made by Netflix
and the other crafted by one of the most powerful
companies in the world. So to pick up where we
(02:53):
left off, Netflix's success in original content was the envy
of Tinseltown. Where Hollywood studios had trouble picking a winner,
Netflix produced one hit its show after another. In just
twenty years. Netflix went from a floundering DVD rental by
mail business to surpassing the Walt Disney Company's annual production budget.
It was an astonishing, almost unbelievable feat. By twenty twenty,
(03:17):
Netflix had tallied over two hundred million subscribers. The company
was having unprecedented success, largely by using their powerful algorithm
to mine the likes and desires of their audience. But
in the midst of this success, Netflix began to take
a noticeable left turn for anyone paying attention. It was
an odd development from the early DVD days. Netflix was
(03:40):
popular with Middle America, and in its first original content
series in twenty twelve, Netflix appeared to make an attempt
at being even handed. I mean Kevin Spacey's House of
Cards villain character was a Democrat, but as the years progressed,
the company went woke. What happened? How did Netflix go
from having the mitas touched to instead touching a cultural nerve?
(04:01):
While the answer is Netflix's algorithm appeared to come up
against an even more powerful algorithm crafted by a social
architect looking to manipulate American culture. To understand how this
powerful algorithm was able to force its will on Netflix,
(04:23):
we first have to tell the story of its creator.
Speaker 5 (04:28):
When I was growing up the United States, was watching
The Great Society, which thought to summons the resources of
government to wipe out poverty.
Speaker 2 (04:39):
That's Larry Think. Larry was born in nineteen fifty two
to a well to do Jewish family.
Speaker 5 (04:44):
My mother was a college professor. My father owned a
shoe store.
Speaker 2 (04:47):
He was raised in Van Nuys, California, a suburb of
Los Angeles, and at ten.
Speaker 5 (04:52):
Years old, I was required to learn how to sell
shoes and help my father. Well, I learned how to
deal with people pretty early in my career, and it
was a great learning lesson how to deal with people,
how to appeal to people's needs, and I have pretty
good shoe.
Speaker 2 (05:06):
Salesman that Larry would grow out of his father's shoes
and go on to create arguably one of the most
powerful algorithms in existence. Larry Fink came of age in
the nineteen sixties at a time of great political turmoil,
as a.
Speaker 6 (05:20):
Time when the operation of the machine becomes so odious,
and you've got to indicate to the people who run it,
to the people who own it. But unless you're free,
the machine will be prevented pro working at all.
Speaker 3 (05:32):
The war between the sexes could become an arm of
God if we don't get on with our revolution. But
if we do get on with it, and we restructure
socided to make equality really possible, that I think the
war between the sexes will and and for the first
time we will have possible true human sexual liberation.
Speaker 7 (05:50):
The chairman of the Student Non Violent Coordinating Committee, Stokely Carmichael,
came forward with a new explosive frase, the.
Speaker 6 (05:57):
Free turn the Black people of the country can learn
at free, wanted white in front of think am and wanted.
Speaker 2 (06:10):
Power, radical feminism, the black power movement, Marxist college uprisings,
gender bending, long haired hippies. The political upheaval of the
nineteen sixties captured many an idealistic youth, and Larry Fink
was no doubt intrigued by the power of these radical
(06:31):
cultural movements to force cultural change. Like many who want
to make a social impact, Larry first looked to politics.
He went to UCLA in the nineteen seventies and received
a BA in political science, but he'd eventually realized that
politics wasn't what caused societal shifts. He'd later land on
the key mechanism that caused social change.
Speaker 5 (06:52):
To achieve what we're trying to do is it's about
talking about culture every day. There's not a day in
my job there's not a business trip where I visit
where I don't focus on culture.
Speaker 2 (07:04):
But it would take a fascinating career journey before he'd
land on that conclusion. By the end of his college life,
Larry Fink left politics and instead ventured down a path
(07:25):
that would lead him to his profound impact on culture
the world of finance. After graduating from UCLA in nineteen
seventy six with an MBA in real estate, Larry was
encouraged by a professor to interview with New York investment banks.
He secured a gig in the mortgage bond department of
First Boston, and this is where Larry began his journey
(07:47):
to cultural domination by taking wild gambles and risky bets.
Larry became one of the highest earners in the firm,
generating over a billion dollars by pioneering a new type
of financial product, one thing called a mortgage backed security.
Larry Fink would later recall this fast moving time.
Speaker 5 (08:10):
We were making so much money, and we had no
idea why we were making so much money. We had
just extraordinary risk and there was no risk systems then,
and nobody bothered to ask us, how are you making
so much money.
Speaker 2 (08:23):
By the age of twenty eight, he became the youngest
partner at First Boston, and he was being talked about
as the future CEO of the company. That his gambling
would eventually catch up.
Speaker 5 (08:34):
With him, and the firm gave me a lot of
responsibility at a very young age, and for many years
I achieved what they asked me to do, and then
I did it.
Speaker 2 (08:42):
He made a mistake that would change the course of
his life. Thinking that interest rates were going to rise,
Larry Fink had his traders take a huge stock market
position based on that prediction. But by nineteen eighty six
it became clear that Larry's interest rate prediction was wrong.
Speaker 5 (08:59):
Tonight, the American people deserve our thanks for thirty seven
straight eight months of economic growth.
Speaker 3 (09:05):
Interest rates cut in half.
Speaker 2 (09:06):
Interest rates didn't increase, they were reduced dramatically. Larry Fink's
investment Campbell went bust after his meteoric rise stacking win
after when his team lost one hundred million dollars on
his prediction. Larry went from a hero to a zero
in a matter of months.
Speaker 5 (09:25):
I was just mortified in myself. Let's be clear, the
failure wasn't anybody else's but mine, and the firm one
of the fire a bunch of people for that loss.
And I told the firm, you need to fire me then,
and if you're going to fire them, fire me. And
they wouldn't do it. So everybody stayed by the way.
But I didn't believe that because I was ultimately responsible
for that position. I mean, and I never forgave myself.
Speaker 2 (09:45):
He didn't forgive himself for not understanding the risk associated
with his investment positions.
Speaker 5 (09:50):
But it took me a year and a half to
try to search what I wanted to do, and it
was very clear during that year and a half, not
only did we not understand the risk. There were so
many other companies that really didn't understand the risk and
most importantly, the buyside. The investors had no idea the
risk they were taking, and there was a great need
for a company that starts off of a high concentration
and risk analytics.
Speaker 2 (10:09):
Larry Fink never wanted to go through that fiasco again,
and he knew others in the investment world were also
playing the same dangerous game. So he wanted to create
an investment firm that centered around risk analysis and management
(10:30):
that he needed money to get started. He approached an
investment firm and pitched the founders on his idea.
Speaker 5 (10:36):
I told the story is Steve Schwarzon and Pete Peterson,
and they loved it, and they had more confidence in
me than I had myself. They wanted to go right ahead.
Speaker 2 (10:42):
In nineteen eighty eight, they gave him five million dollars
for a fifty percent stake in a bond investment firm
that focused on risk management. The company would eventually be
called Black Rock. Larry Fink started off with the very
small team.
Speaker 5 (11:00):
So when we started the company with eight people in
one room with no business, twenty five percent of the
hires were technologists.
Speaker 2 (11:07):
Their initial approach to risk management was simple. Each day,
they'd take risk report printouts and meticulously flip through the pages,
comparing the company's investment portfolio on that day to the
day before, searching for unstable areas. Their risk analysis was
done entirely by hand, but this simple manual auditing practice
delivered phenomenal results.
Speaker 5 (11:29):
We actually started making money within two weeks.
Speaker 2 (11:31):
By the following year, the assets under Black Rocks Management
grew from zero to two point seven billion. By the
end of nineteen ninety two, they were managing seventeen billion
in assets. Things were going good, but Larry Fink was
about to implement an idea that would send the company
into the stratosphere.
Speaker 1 (11:55):
History shows that every market eventually falls, every currency collapses,
and today the US dollar is hanging by a thread.
Trillions in national debt record high markets to find gravity,
but stocks can't go up forever. Meanwhile, your groceries, housing,
and transportation costs are all going up, and your dollar
it's buying less every single day. So when the system breaks,
(12:18):
when the crash hits, your stocks won't save you, and
your dollars won't either. But one thing will. Gold. Gold
has always survived a collapse. That's why central banks are
buying gold by the ton, Billionaires are stocking up, and
every day Americans are protecting their savings in retirement with
physical gold before the next shoe drops. Don't wait for
(12:38):
headlines when the panic sets in it's too late. Call
Lear Capital now at eight hundred four eight zero one
one zero zero to get your free twenty twenty five
gold investment kit and protect your wealth if the system
breaks with real physical gold. With over three billion dollars
in transactions and thousands of five star reviews, Lear is
(13:00):
your leading source. Call now and get up to fifteen
thousand dollars in bonus gold with a qualified purchase. Call
eight hundred four to eight zero one one zero zero.
That's eight hundred four to eight zero one one zero zero.
Keep in mind that any investment has a certain amount
of risk associated with it, and you should only invest
if you can afford to bear the risk of loss.
(13:21):
Before making investment decisions, you should carefully consider and review
all risks involved. Welcome back to red pilled America. So
after losing one hundred million dollars from risky investments, Larry
Fink launched black Rock in nineteen eighty eight, an asset
(13:42):
management firm that focused on investing in bonds from a
risk management perspective. His team would meticulously compare the day's
investment portfolio against printouts from the day before, and this
simple analysis delivered remarkable results. From nineteen eighty eight to
nineteen ninety two, the assets they managed grew from zero
(14:03):
to seventeen billion dollars. But Larry Fink was about to
implement an innovation that would send the company into the stratosphere.
In the early winter of nineteen ninety three, a Blackrock
analyst had an idea. Instead of printing out and reviewing
their entire portfolio by hand, why not take the data
sorted into a database and then have a computer compare
(14:25):
the report today versus the report from the day before,
across every single one of the company's stock market positions.
It sounds logical today, but this was nineteen ninety three.
The first widely used web browser wasn't released until that
same year. Everything Blackrock analysts were doing was largely done
(14:46):
by paper, but with technology advancing, Larry Fink's analysts were
looking for shortcuts, and it was this simple insight that
led to a monumental innovation. While Larry loved the idea
and he decided to move forward with it. They called
their new algorithm Asset layab Ability and Debt Derivative Investment Network,
or ALADDIN for short, and this new algorithm produced startling results.
(15:13):
The firm went from managing seventeen billion dollars in assets
right before the creation of ALADDIN to a whopping fifty
three billion by the end of nineteen ninety four, just
a year after creating the algorithm. Larry Fink was now
one of the first in the industry to rely on
an algorithm to make investment decisions. To continue BlackRock's staggering growth,
(15:35):
Larry wanted to offer more stock options to attract talented analysts.
His original investment partner, Stephen Schwartzman, didn't want to dilute
his own ownership state, so he rejected Larry Fink's plan.
A few developed and Larry decided he needed to part
ways with his original investor. In nineteen ninety four, he
(15:56):
found someone to buy out Schwartzman's stake in black Rock
for two hundred and fifty million dollars. Larry now had
complete control of the company and it must have been
scary because that same year, Aladdin's algorithm was going to
be put to the biggest test of its young existence
by General Electric. Over a decade earlier, famed American executive
(16:17):
Jack Welch became CEO of General Electric or GE. Under
Jack's leadership, GE entered new industries such as media and finance.
In one acquisition, GE purchased respected securities firm Kidder Peabody
and Company. But soon after the acquisition, Kidder Peabody was
caught in an insider trading scandal. A few years later,
(16:37):
accounting fraud was added to their troubles. Jack Welch realized
that the firm was infected by a culture of corruption,
and by nineteen ninety four he decided he wanted to
sell the company. Kidder Peabody were holding some valuable assets
that they were mixed in with a large number of
(16:58):
complicated financial assets called mortgage back bonds. Jack Welch founded
him investment bank that was willing to purchase the company's
healthy assets, but didn't want the toxic part of their portfolio.
So Jack needed someone to help weed out these toxic
assets so that the investment bank could purchase what was left.
No one on Wall Street wanted to take on the
(17:19):
job of finding the junk. No one except Larry Fink.
You see, the type of assets that Kidder Peabody held
were right in Larry's wheelhouse. He'd pioneered the creation of
(17:42):
mortgage backed securities, and as a Laddin algorithm had been
churning through data in the global bond market for several years.
If anything could find these toxic critters in Kidder Peabody's
investment portfolio, it was Aladdin. So Jack Welch hired Larry
Fink to separate out those bad apples and sell off
what was left. It was the first real test of
(18:02):
whether or not Aladdin truly worked. For days, his team
of analysts used Aladdin around the clock to comb through
the data, repackage the valuable assets, and sell them off
to the investment bank. To everyone's astonishment, the algorithm pulled
off the complicated task. It was a breakout moment for
(18:24):
Larry Fink. He gained the reputation as the financial doctor
that could cut out the cancerous elements and guide a
company to health. Through the mid to late nineties, Blackrock
continued to feed the Latin data on the global bond
market and the algorithm became smarter and smarter. Aladdin got
so good at picking winners and losers that Blackrock began
(18:46):
selling access to their data to outside firms. The company
continued its staggering growth, and the industry began taking notice.
Speaker 8 (18:54):
His open secrets to success is a massive computerized system
called a Latin, which can instantly monitor millions of trades
and analyze comes from millions of portfolios based on even
slight chefs in the economy.
Speaker 1 (19:08):
In nineteen ninety nine, as Netflix was still floundering around
trying to find a business model that worked, Blackrock went public.
By the end of the year, it was managing one
hundred and sixty five billion in assets, and the company
was well positioned for a Building Wall Street catastrophe.
Speaker 4 (19:25):
It's described as nothing short of breathtaking, a points drop
never before seen on the US markets, whose closing bill
might as well have been an alarm, so savage was
the selling.
Speaker 1 (19:40):
As the dot com bubble burst, investors looked to shift
their money away from internet stocks and into this safety
of low risk bonds. A tsunami of capital flooded into
the very domain that Larry Fink ruled.
Speaker 7 (19:53):
In two thousand and one, twelve years after the launch
of Blackrock, Fortune referred to that company as perhaps the
greatest success story on Wall Street the past half decade.
Speaker 1 (20:04):
By two thousand and four, Blackrock was managing nearly four
hundred billion dollars in assets. Two years later, the number
bloated to an astronomical size with.
Speaker 7 (20:14):
The recent merger with Merrill Lynch. Larry oversees the management
of more than one trillion dollars in assets.
Speaker 1 (20:22):
Aladdin was helping Larry Fink gobble up Wall Street firms
at a jaw dropping rate, and the algorithm was just
getting started.
Speaker 2 (20:30):
By two thousand and eight, Larry Fink was thinking about
something that had captured his mind going back to his
college days. Culture.
Speaker 5 (20:37):
So we have now over five thousand employees, we have
five hundred investment professionals, were in eighteen countries. And this
is a problem. And the problem is, how do you
mesh an organization to have one common culture? How do
you mesh an organization that have a common belief that
leadership in Taiwan can think and act no differently than
(21:01):
leadership in Melbourne or a leadership in New York. So
the core of any organization, and certainly a core at Blackbrook,
which we commonly discuss is the foundation of culture.
Speaker 2 (21:14):
The timing of this realization couldn't have been better because
the influence of Blackrock was about to rival entire nations.
You see, a financial product that Larry Fink pioneered was
exploding within the banking system, and Larry must have known
it was coming all along. By two thousand and eight,
Aladdin had been analyzing stock market risk for fifteen years.
(21:37):
After analyzing trillions of trades, his algorithm was becoming more
and more intelligent and powerful. It had become so good
at analyzing risk that it allowed Larry Fink to largely
avoid the perils of the toxic asset he pioneered, mortgage
backed securities, and his firm was about to cash in
(21:57):
on the chaos.
Speaker 9 (22:00):
The Dow tumbled more than five hundred points. Two pillars
of the Street tumbled over the weekend. Lehman Brothers, a
one hundred and fifty eight year old firm, filed for bankruptcy.
Speaker 2 (22:10):
In September two thousand and eight, the banking crisis hit
the global economy. It was thought to be the worst
financial crash since the Great Depression, and it wasn't long
before leaders in the finance world honed in on the
source of the crisis. It was mortgage backed securities tied
to real estate. Basically, the investment portfolio of banks were
(22:31):
littered with bad loans and these toxic assets were taking
them down. There was really only one man that understood
how to pull the economy out of this mess, and
it was the same man that created these complex financial products,
Larry Fink, and.
Speaker 8 (22:46):
As an expert on mortgage backed securities, it was called
in to help and to clean up, with people like
Hank Paulson and Jamie Diamond and Tim Geidner on speed dial.
Speaker 2 (22:56):
Tim Geidner was the US Secretary of the Treasury.
Speaker 8 (22:59):
I read a note that said there was a day
in which Geidner called him twenty one times in a day.
Larry Fink helped engineer a remarkable rescue for the financial industry.
Speaker 2 (23:09):
It was BlackRock's algorithm that decided which banking assets should
be saved in the massive US federal bailout package, and
other countries turned to Blackrock for help as well. Japanese
and European central banks used Aladdin to help decide where
their country's bailout money should go. Larry Fink was becoming
the savior of Wall Street for rescuing an industry from
(23:30):
a financial product he'd created.
Speaker 10 (23:33):
We are talking about Larry Fink. Larry's the CEO of Blackrock,
the man who they say seems to know at all
when it comes to the US financial crisis, because he's
in charge of sorting out a lot of the mess
that has gone on in the last one and a
half years.
Speaker 2 (23:47):
In the wake of the financial crisis, Financial News named
Larry Fink the CEO of the Decade. By twenty fourteen,
Blackrock continued gobbling up other investment firms. It ballooned in size,
managing four trillion in assets, making it the world's largest
(24:10):
asset manager. And it was around this time that Larry
discovered a hidden power amongst all of the companies he'd acquired.
Each trading, asset, asset management, and investment firm that he
acquired was running on separate computer platforms.
Speaker 5 (24:24):
And when we acquired Malem in two thousand and six,
we were surprised that it had eighteen operating platforms. And
then we acquired in two thousand and nine BGI, and
it was considered one of the pre eminent investment firms.
ICE shares was a part of that. It had over
one hundred different technology platforms because every little business had
(24:45):
its own little silo and technology and they didn't connect.
Speaker 2 (24:48):
What Larry Fink wanted to do was consolidate all of
these separate platforms into one overarching algorithm that governed all
of Black Rock's assets. Aladdin would be that single platform,
and by doing so, Larry Fink could begin to craft
one common culture throughout his entire multinational company.
Speaker 5 (25:07):
What's so important about Aladdin for us was we have
one technology pipe worldwide that connects everything we do at
the firm, and everything from client connectivity to all risk
management worldwide is under one common platform. Having one singular
pipe one hundred countries worldwide is everybody believing in having
(25:29):
one pipe. And that's important that everybody culturally believes that
we have one connective tissue that's connecting the whole organization
and information that actually builds culture too. So to achieve
what we're trying to do, it's about talking about culture
every day. There's not a day in my job, there's
not a business trip where I visit where I don't
(25:49):
focus on culture. And all the other leaders do that,
and we obviously try to live that culture that we
talk about. So it's not some BS conversation that says
done a wall it is it's how we live every day.
Speaker 2 (26:03):
Larry Fink was creating one common culture across his entire company,
a company that reached into every industrialized capitalist nation in
the world. But the twist was that Blackrock was not
a normal, run of the mill company. It was the
firm that leaders of finance, leaders of nations turned to
to decide what a good investment was and what was not.
(26:26):
And this is where things got interesting. You see, the
Aladdin algorithm had become the central nervous system for many
of the biggest players in the global investment management industry.
What Blackrock deemed a safe investment was now considered safe globally,
and what it considered a risky investment, well, let's just
(26:47):
say that smart money stayed away from any company Blackrock
deemed risky. By achieving this global status, by basically becoming
one of the primary operating systems of the entire global
investment industry, the architect of this algorithm could begin to
impose shows his beliefs on any and every corporation tied
to Wall Street, including streaming services like Netflix. All he'd
(27:11):
need to do is redefine what it meant by the
word risky.
Speaker 1 (27:22):
Life is short. It's important to surround yourself with people
you love, do the things that make you feel happy,
and if you're me, eat delicious licorice. I've got the
latter covered thanks to fresh and delicious licorice from The
Licorice Guy. If you're an avid listener of RPA, then
you know that licorice is my jam and that it
does not get any better than the gourmet licorice made
(27:44):
by the Licorice Guy. They have a great selection of
flavors to choose from, like red blue, raspberry, black, and
green apple, just to name a few. The freshness of
their licorice is unlike anything you've ever tasted in licorice before.
If you haven't tried the Licorice Guy yet, then you're
living a life unfulfilled. Trust me, you will not regret it.
I also love about The Liquorice Guy is that it's
(28:05):
an American family owned business. We are big proponents of
buying American and supporting American workers. Right now, Red Pilled
America listeners get fifteen percent off when you enter RPA
fifteen at checkout. Visit licoriceguide dot com and enter RPA
fifteen at checkout. That's licoriceguide dot com.
Speaker 2 (28:28):
Do you want to hear red Pilled America stories ad free?
Then become a backstage subscriber. Just log onto Redpilled America
dot com and click join in the topmenu. Join today
and help us save America one story at a time.
Welcome back to Red Pilled America. I'm Adriana Quortes.
Speaker 1 (28:48):
So.
Speaker 2 (28:48):
By twenty sixteen, the Aladdin algorithm had grown so influential
that it had become one of the primary operating systems
of the entire global investment industry. The algorithm was interpreting
which investments were safe and which were risky. Practically everyone
in the finance world was influenced by its output. Aladdin
had become to Wall Street what Microsoft Windows is to
(29:11):
your personal computer, or what the Apple operating system is
to your iPhone. Aladdin touched a massive portion of the
global investment market. Black Rock CEO Larry Fink recognized this
new global power, and he was about to use this
newly acquired status to impose his woke beliefs on any
and every corporation tied to Wall Street. All he had
(29:32):
to do was to redefine what the word risk meant,
and there was a new, woke movement in the investment
world that would help him in that effort.
Speaker 1 (29:41):
Just as Aladdin was rising to supremacy, a concept was
also infecting portions of Wall Street, a concept known as
ESG investing.
Speaker 11 (29:51):
Causes like protecting the environment or promoting social equality haven't
always been factors considered when evaluating investments, but an approach
to investing called environmental, social and governance investing, or ESG,
is changing that.
Speaker 1 (30:12):
ESG investing is an attempt to change the definition of
what it means to be a risky investment. For as
far back as the eye can see, investors have always
had a very traditional set of parameters of how they
invest their money, things like are the people or company
I'm investing in reliable? Is their business returning a legal profit?
(30:33):
Is the return on investment in company A as good
or better than if I put my money in company B.
Things of this nature. The investment community has survived and
thrived for hundreds, even thousands of years on traditional measures
of investment risk. While ESG investing look to change all
of that by adding a new parameter.
Speaker 11 (30:53):
You might hear other terms used for ESG investing like
socially responsible investing, sustainable investing, values based investing, and impact investing.
What these terms have in common is that they describe
an approach to evaluating investments based not just on traditional
measures of financial risk and return, but also by factoring
(31:14):
in their effect on society and the world. This may
include selecting investments based on a company's environmental impact like
pollution and animal welfare, social impact like human rights or
fear compensation, and governance factors such as having a diverse workforce,
executive team, or corporate board. However, ESG investing is about
(31:37):
more than just investing with a clear conscience. Some investors
believe that companies with HIGHESG ratings have the potential to
outperform those.
Speaker 12 (31:46):
That do not.
Speaker 1 (31:47):
The concept of socially responsible investing is not new, Like
many bad ideas, It was born in the nineteen sixties
and was soaked in good intentions. Back then, activist investors
would exclude stocks or inn entire industries from their investment
portfolios based on a business's activities, things like if they
(32:08):
produced tobacco, alcohol, or firearms or if they benefited from
the South African apartheid system. But it wasn't until two
thousand and four that a coordinated campaign was launched to
inject ESG investing into the entire international financial community. It
came from that diabolical global body that seems to cause
so much trouble in the world, the United Nations. In
(32:31):
two thousand and four, former UN Secretary General Kofianon invited
CEOs of some of the world's most prominent financial institutions
to participate in a UN global initiative. The goal was
to integrate socially responsible investing into the world of finance.
A year later, the initiative published a paper entitled Who
Cares Wins. In it, the group argued that integrating environmental,
(32:55):
social and governance factors ESG factors into capital markets not
only led to a better society, but would also result
in higher profits. ESG investing was born. The report was
packed with scientific charts and expert opinions, the same type
of marketing materials that the UN has published to argue
(33:16):
for global warming legislation. It was obvious to anyone paying
attention that ESG investing was just another way for the
UN to force climate change policies on corporations, But it
wasn't long before the far left activist portion of Wall
Street could see that ESG investing could also force corporations
to adopt the entire woke agenda, and they got to work.
(33:45):
In two thousand and six, the New York Stock Exchange
launched an organization to develop ESG principles. The following year,
the UN launched another initiative that encouraged and monitored ESG
investing throughout the global capitalist system. Industrial leaders didn't pay
it much attention, but as the years progressed, the industry
began to take notice, and it was largely because Larry
(34:08):
Fink used this new movement to impose his values on
the entire investment ecosystem. And how did he do this Well,
Remember Blackrock is the firm that defines whether an investment
is safe or risky. Larry Fink began to argue that
if a company didn't adopt these ESG values, then maybe
the company was no longer a safe investment, maybe they
(34:31):
were even a risky gamble. Risk was redefined, and this
new definition started to become encoded into the analysis of
whether an investment was or was not attractive. Companies began
popping up that gave corporations an ESG rating. They measured
a company's impact on global warming, whether they had an
ethnically diverse board of directors and management, whether they were
(34:54):
putting a socially conscious product into the world, and so on.
If the company received a high ESG rating, they were
successfully implementing socially us responsible practices and as a result,
they were a safe investment. But if the company received
a low ESG rating, not only were they failing at
being socially responsible, they were now a risky gamble. The
(35:15):
incentive for companies to start implementing ESG into their culture
began to rise. The investment community snapped back, arguing that
(35:35):
their sole responsibility was to maximize shareholder value, an argument
that was backed by the law. But the pressure for
corporations to start implementing ESG into their company's culture became
undeniable when Blackrock began publicly promoting the ESG mantra.
Speaker 12 (35:52):
Let's flash back to driving a car. Fifteen years ago.
Drivers would use rare and wing mirrors to merge, reverse
and park. Today, thanks for advancements in technology, we have
cars with cameras, collision warnings, and parking centers. These evolved
safety features give drivers a more complete view of their surroundings,
helping them make better decisions. The same thing is happening
(36:15):
with investing. While traditional financial analysis still anchors investment decisions,
the greater availability of sustainable data today gives investors a
more holistic view of the companies they invest in. Sustainable
investing uncovers environmental, social, and governance or EESG related risk
and opportunities that traditional security analysis may overlook. By giving
(36:38):
investors a more complete view, sustainable investing can help identify
companies that may be better positioned to manage sustainability related risks.
Speaker 1 (36:46):
Now, if you wanted to be viewed by investors as
an attractive investment, ESG values had to become a part
of your corporate culture.
Speaker 2 (36:55):
This paradigm shift was all happening right around the time
that companies like Netflix began to take a hard woke turn.
As you may remember, when Netflix first got into streaming,
its algorithm was helping the company decide which shows to produce.
It gave the company that insight by mining the likes
and desires of its subscribers, and because of their algorithm.
(37:17):
Netflix became the envy of Hollywood, producing one hit show
after another, House of Cards, The Crown, Stranger Things, Narcos, Ozark.
But around twenty eighteen, the streaming service began to put
out some pretty woke shows.
Speaker 5 (37:32):
Access to abortion is good and important.
Speaker 2 (37:35):
Some people say abortion is killing a baby.
Speaker 5 (37:38):
It's not.
Speaker 3 (37:39):
It's stopping a baby from happening. It's like back to
the future.
Speaker 8 (37:43):
An abortion is the DeLorean, and everyone loves Deloreans.
Speaker 2 (37:48):
The timing was likely no coincidence. Blackrock had recently become
a major investor in Netflix, and earlier that same year,
Blackrock CEO Larry Fink published a letter that was a
warning shot across the bow of corporate America.
Speaker 8 (38:02):
If I want to put a question to all of you,
I think we can all agree that a corporation has
a duty to maximize returns for their shareholders.
Speaker 1 (38:10):
But does a.
Speaker 8 (38:10):
Corporation also have a duty to society. That is a
question that is at the heart of a letter our
speaker recently sent to all of the major CEOs in
the United States and others around the globe. In the letter,
he says that the public expectations of your company have
never been greater. I mean, I'll just quote an exact
(38:31):
line from your letter. Every company must deliver not only
financial performance, but also show it makes a positive contribution
to society. He closes with a subtle but unmistakable warning
to hold them accountable for not only doing well, but
also doing good. Now, not everyone can credibly make the threat,
but our speaker tonight is Larry Fink, the CEO of Blackrock,
(38:55):
which is the largest financial asset manager in the world
with six brillion dollars in assets under management. Now, I
want that to really sink. In six trillion dollars. That's
considerably larger than the proposed federal budget the President just
(39:15):
released today.
Speaker 2 (39:16):
What he was basically saying was corporate America support our
ESG woke agenda or lose access to our massive investment funds.
If you've ever wondered why corporations in a capitalist country
we do and say so many things that would turn
off half the nation. You can thank ESG investing. If
they don't virtue signal, they lose access to trillions of
(39:38):
investment funds managed by companies like Blackrock.
Speaker 5 (39:41):
One of the things that you've been outspoken on, and
that's environmental, social.
Speaker 12 (39:44):
And governance ESG investing.
Speaker 5 (39:45):
We've been very aggressive in building out analytics and data
so we could look at and review and judge companies
through the lens of better understanding of how companies move
forward in a decarbonizing world.
Speaker 1 (39:59):
So this letter, you think is the most important letter
you've ever written.
Speaker 5 (40:03):
I believe the companies that have purpose are the best
companies in the world because it unites their employees, it
connects the clients, but most importantly, it brings the organization
onto a common plane. And I think that's very vital.
And you know, and you know, the best companies that
I know of are the ones that work towards a purpose.
(40:25):
Because so many of us use the Internet for communication,
you have ability to do word analysis related to every company.
Most companies have blogs. You could go on blogs and
find out what is the opinion of a company.
Speaker 2 (40:41):
And it wasn't just corporations that would feel the impact.
The new pressure would trickle down to Americans at large.
Speaker 5 (40:48):
So this ESG stuff is really being utilized to control society.
Speaker 2 (40:54):
Executive Director of Consumer Research Will hild saw Blackrocks Power
move as an n run around the legislative process.
Speaker 13 (41:01):
Black Rock has been the leader and in some ways
the ring leader of all of Wall Street in pushing
something called ESG investing. But really what ESG is is
an excuse for Wall Street to push politics into corporate America.
They can push in their own environmental policies, they can
push in social and governance policies that could never be
achieved at the ballot box. But Blackrock uses the nearly
(41:22):
ten trillion dollars of assets they have under management. It's
not their money, it's state, local, federal pension funds and
other institutional money to push politics into corporate America.
Speaker 2 (41:34):
Back Blackrock and woke Wall Street use ESG investing to
force their woke agenda on corporations. If corporations don't get
a high ESG rating, Blackrock will label them a risky
gamble investment money could dry up, sending their stock price tumbling.
In essence, Blackrock is using the same playbook as big tech.
(41:57):
If you don't adopt their ESG values, you effectively get
kicked off of their platform and lose access to the
te brillions of investment dollars they manage. That's what corporations
began to face, and it was all being enforced by
Black Rocks. Algorithm Aladdin was quickly being considered as more
powerful than traditional politics. Understanding this new force in America
(42:20):
illuminates the outcry over Dave Chappelle's Netflix special the closer.
The drama over Dave Chappelle's transgender jokes was actually a
clash between two algorithms. On one side was Netflix's algorithm,
pushing the streaming company to produce a show that was
popular with their subscribers, and on the other side was
Aladdin's algorithm, incentivizing corporate America to enforce its ESG values.
(42:45):
There wasn't really a broad outcry over Dave's transgender jokes.
Only a few dozen out of thousands of Netflix employees
actually walked out in protest.
Speaker 7 (42:54):
Today, several dozen of Netflix's thousands of employees walked off
the job, demanding the company better support its transgender workers.
Speaker 2 (43:03):
Its higher outrage was a corporate media fabrication fueled in
large part by this new ESG paradigm. Publicly traded corporations
are now incentivized to incorporate woke ESG values into their
company culture, because the higher their ESG rankings, the better
the company will look. To black rocks behemoth risk management
(43:23):
algorithm Aladdin, which in turn opens the investment world to
their company. So the entire corporate media ecosystem is incentivized
to incorporate wokeness. They hire employees that align with this
woke agenda, they put woke products into the marketplace, and
when someone ventures outside of the authorized boundaries, the media
mob is unleashed. When Dave Chappelle was attacked for his
(43:46):
transgender jokes, it wasn't really a widespread public outcry. It
was a corporate media pressure campaign hell bent on enforcing
this new ESG window of allowable speech, and in the
eye of the storm, it appeared the comedian himself understood
the nature of the attack.
Speaker 14 (44:03):
I want everyone in this audience to know. And even
though the media frames is that it's me versus that community,
it's not what it is. Do not blame the LBGTQ
community for any of this shit. This has nothing to
do with them. It's about corporate interest and what I
can say and what I cannot say.
Speaker 1 (44:39):
Which leads us back to the question are algorithms controlling
American lives? The answer depends on who you are. For immoral, ignorant,
dependent men and women, the answer is yes. Algorithms not
only control them. Those types of people actually are the
dangerous algorithms. They are the real life extension of the code,
(45:00):
the human enforcers of the algorithm's cre We didn't care.
Speaker 14 (45:04):
What name shab we're doing until you come our community.
Speaker 1 (45:08):
What people need to realize is that in a sense,
we all of us are the algorithm. We are the
ones that choose to act on these ridiculous tasks. Algorithms
whip us up into performing in the real world.
Speaker 13 (45:20):
There's a lot of argument that algorithms cause arguments and.
Speaker 4 (45:24):
Cause strife, all this stuff.
Speaker 13 (45:27):
That people are saying like, oh, the algorithms are tearing
us apart, Like no, we're tearing us apart.
Speaker 1 (45:33):
Algorithms can be written to control our behavior, but we
can also use algorithms against those that try to control us.
When Aladdin's ESG algorithm came for Dave Chappelle, the Netflix
algorithm pushed back, the people pushed back, and the ESG
algorithm was defeated.
Speaker 14 (45:49):
You have to answer the question, am I canceled or not?
Speaker 1 (45:54):
So the next time you hear that woke algorithms are
controlling our lives, don't fear because in reality, woke algorithms
don't stand a chance against me, moral, god loving Americans.
Speaker 15 (46:05):
Netflix has changed its internal memo warning employees that they
may have to work on harmful content and that viewers
will decide what's appropriate for them versus having Netflix sensored
diverse content. The new memo goes on to say that
if employees feel that their work is perceived as harmful
to them, the Netflix may not be the best place
(46:26):
for them to work.
Speaker 2 (46:27):
Red Pilled America is an iHeartRadio original podcast. It's produced
by me Adriana Cortez and Patrick Carrelci for Inform Ventures.
Speaker 10 (46:35):
Now.
Speaker 2 (46:35):
You can get access to our entire back catalog of
episodes and are behind the scenes podcast by becoming a
backstage subscriber. To subscribe, just visit Redpilled America dot com
and click join in the top menu. Thanks for listening.
Hosts And Creators
Adryana Cortez
Patrick Courrielche
Popular Podcasts
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.