Locking post, as instance rules constantly being violated.
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I'll go ahead and be the bad taste in everyone's mouth:
Good fucking riddance. Blackstone is an explicitly evil company, and everyone working for them should be ashamed. It is not possible to be an executive at Blackstone and also be a good person, they are diametrically opposed ideals.
If I believed the US justice system gave a single fuck about the evils that the rich committed, I would be more aghast by this... but I don't, and I'm not.
If this guy's name is Mario I'm going to lose it.
God I hope his name is Mario! Then I'll know we are being fucked with, and we're in a simulation...
Nah, his name was Shane. Sadly, there will be no teaming up because he shot himself at the end.
Mario was just the fall guy. Clearly the real killer is still out there, continuing his works.
Three different articles I've seen about this and not ONE of them even ATTEMPTS to explain what Blackstone is.
Yes, I could, and did, google it, but it's infuriating, on principle. It's a bsic reading comprehension concept: don't assume your reader knows outside context, when your audience is essentially random.
That's because everyone hates hedge funds when you describe what they do. If you just say a "real estate investment group" a lot of people will still get it, so they say nothing in the hopes that your eyes glaze over and you don't think any more about it.
They make outdoor griddles right? My neighbor makes some mean fried rice on his, egg spinning and all.
Blackstone is an absolutely massive, global company. Would you expect an article to also describe what Netflix is any time they talk about them?
To an extent, yes. "Video streaming giant Netflix" would suffice.
The obfuscation is on purpose. The media (which, I must remind you, is all completely owned by the billionaire class) is afraid that in telling you who and what Blackstone is, there will be cheering for the death of this person instead of remorse. This is due to the whiplash they experienced in reporting on the death of that healthcare CEO back in December.
Expect more of the same kind of reporting going forward if/when a capitalist dies from misfortune.
Yes, that's literally taught in a high school level journalism class. Assume your reader has never heard of things before and give a quick, concise description of them. And then after giving the facts, if it's super relevant to the story, give a detailed description of them.
For example. "Video streaming giant Netflix announced today that it's going to be raising prices again. Subscribers can expect to see the new prices starting this fall. Base level subscribers yada yada yada...
Netflix rose to prominence with mail order DVDs, competing with rising prices and return fees from Blockbuster video, a brick and mortar video rental service. Netflix pioneered the streaming model yada yada yada"
Back to reddit, tankie troll.
autocorrect is my nemesis
Didn't the CEO's hold "lone gunman" drills? Did they practice hiding under their desks? Were they children? No? Because that's what children have to go through every single day. This is just one day that the gunman went to a business, not a school.
I'd rather have gunmen shooting up slumlord CEOs than schools any day. Maybe if they kill enough CEOs, we can get some gun control laws that might save children. At schools. Because the CEOs that control the government sure don't give a single fuck about children being shot at school - and they never, ever will.
I'm glad our "mental health problem" is finally at least putting the crosshairs in the direction of people that actually hurt others.
I really hope this is the new Meta. Anything to protect our schools.
We have to implement "Children4CEOs" before "Children2CEOs" has a chance.
Best news I've heard all day.
I love it when some shooting or tragedy happens, if it's workers then all they get is one line at best and their lives get abbreviated to a statistic, but when some capitalist dies every news site writes about how great and authentic they were for a couple days.
Though given how this shooting was an example of lone wolf adventurism, it's quite dumb to support it - the CEO will be replaced by an identical cog in the machine like always, a decent part of the public will get alienated thanks to anti-violence culture and media narratives (as seen in articles like there) and the shooter just threw away their life.
Though I won't lie that it doesn't make the day a bit better to see capitalist get gunned down
There are a ton of people like that, but they're mostly found on real life, facebook and other similar social medias and not lemmy or reddit or twitter - those are terminally online echochambers, but I've seen one or two people going "thoughts and prayers" or "all violence bad".
Also, my position is more complex than "violence can't solve problems" - it can, but it must be organized, with clear goals in mind and people already behind and actively part of the cause.
If you just go in lone wolf style like Luigi or something and gun down a CEO, you expect for the public to see this, get inspired to take up arms of their own and start Years of Lead where rich people are fearing for their lives and suddenly we have a revolution like in some sort of Hollywood movie, but that's not what happens in reality.
Instead, media tries to demonize the shooter by saying how good the victim was and how their family is grieving (happening right now) to tug on heart strings which will at least turn some people against them, the shooter being made example of in court which essentially throws their life in the bin, the CEO being replaced by someone else in a week's time and people forgetting about all of this after news cycle moves on. I genuinely only see Luigi mentioned on lemmy here given how he's the liberal larp darling here, and nowhere else I visit or IRL.
Also, if we're talking history here, then here's a fun factoid - some Anarchist burnt down Reichstag in opposition to Hitler and his Nazi party, but this fire was later used by Hitler to expand his powers, suppress civil liberties and was pivotal in establishment of Nazi Germany. Of course, this is only something to think about with more brutal regimes, but nothing like that will probably come out of this shooting.
A good example of organized violence is probably that of the Bolsheviks pre-Russian revolutions - they had bank robberies, political assassinations that were used to fund the revolutionary underground and destabilize the regime, and not merely some bouts of individualized violence.
Well, at least someone terrible was among those lost. I’ll take the silver-lining where I can get it. Rot in hell, corporate robber baron.
Last week, the Department of Justice announced it had filed an amended complaint to its antitrust lawsuit against RealPage in order to sue six of the largest U.S. landlords for their alleged participation in a nationwide rental price-fixing scheme. According to the complaint, the six landlords allegedly coordinated their rents with each other through use of RealPage’s pricing algorithms and direct communication with competitors about rents and occupancy, among other tactics. Of those six landlords, three are owned by private equity firms: Blackstone, Greystar Real Estate Partners, and Cortland Management.
Blackstone, the nation’s largest landlord, with around 350,000 rental units, has faced years of scrutiny from advocates for its poor treatment of tenants. In August, the Private Equity Stakeholder Project (PESP) and the Alliance of Californians for Community Empowerment (ACCE) published a report examining how Blackstone has profited from rent hikes and ramped up evictions in California. In 2021, Blackstone acquired 5,800 rental units in the San Diego area. Since then, the report showed, Blackstone has increased the rent at these properties 38% — almost double the 20% average rent increase for all apartments in the San Diego market during this period. The rent increase at some Blackstone-owned buildings was especially high – up to 79%. The report also noted how Blackstone touted to investors multiple times how the firm’s real estate investments benefit from declining new supply of housing, a key driver of the affordable housing crisis.
“As more and more Americans struggle with the cost of putting a roof over their heads, corporate landlords were allegedly colluding to raise rents ever higher,” said Jordan Ash, Director of Housing at PESP. “Everyday Americans can’t keep up with the cost of rent. Homelessness is skyrocketing. Folks are choosing between medicine and a place to live. We applaud the Department of Justice for taking decisive action to hold profiteers like Blackstone accountable.”
And she was CEO of that.
I will bet you a dollar that she would speak at charity dinners talking about how her company creates safe living spaces for low income women or some shit. She would say anything to spin the fact that she made the world a worse place for hundreds of thousands of people.
BlackRock and BlackStone are two separate companies people.
Weyland yutani, omni consumer products, and viridian dynamics: also different companies. Explain the difference.
I hear you, but there are people literally confusing the two with specificity.
You can't trick me into reading the AvP books a second time!
Invest in BlackRock, your money is used to buy up stocks and bonds. In fact, buy shares in an iShares ETF and you're part of the famous BlackRock cabal.
BlackRock has been controversial for many legitimate reasons as well, but in recent years the biggest one has been ESG efforts ("environmental, social and corporate governance"), due to which they're now referred to as.... woke??? Several states stopped doing business with them because of their advocacy against fossil fuels. Florida pulled 2 billion invested with them because of ESG. Also, apparently they're all Jews and caused COVID.
The legitimate reasons for which they're controversial include the fact that their funds own large shares in literally everything. See healthy competition among publicly traded companies in the US by some miracle? BlackRock still owns a large percent of all of them. Or rather, BlackRock funds do. Again, these are mainly ETFs (exchange-traded funds), anyone can buy into them and own a piece of those pies. BlackRock owns things fairly passively.
Blackstone is different. They also have diverse investments from insurance to entertainment where they usually invest directly in companies, but they're controversial for their real estate investments. They own tens of thousands of single family homes and apartments in the US and during COVID made news for buying SFHs above market value so they could buy up entire neighborhoods to ensure people couldn't buy homes in those neighborhoods and would have to rent from them. They have a bunch of commercial real estate too, but that's not as controversial, since it's not actively removing homes from the market. If you travel at all, you're essentially guaranteed to have stayed at some Blackstone owned hotel at one point or another.
Ah and extra fun fact: While BlackRock is the bigger company these days, it's actually a former subsidiary of Blackstone.
TL;DR: BlackRock owns a bit of everything, or rather profits from everything from holdings that their customers own through their funds. Blackstone actively buys up shit you need to live.
To be fair, your fun fact undermines the point you're trying to make. "Former subsidiary" of a conglomerate so vast and pervasive in its reach, it's above every law across the globe, and think some paper declaring their separation is legit, much less binding? C'mon, man. Ferreal? 🤷🏽♂️
To be fair, this was all over 30 years ago. Blackstone doesn't make it into the top 10 of the owners list of BlackRock these days. Started with 50% stake owned by Blackstone, then reduced a bit later, and in 1994, they had a falling out, and Blackstone sold its remaining stake, which the CEO obviously regretted later on, given that BlackRock is now bigger than Blackstone.
Fun fact, what they fell out over, was the fact that BlackRock CEO Larry Fink wanted to give new hires some equity in order to poach top talent and Blackstone CEO Stephen Schwarzman didn't want to give up any more equity.
Blackstone CEO Schwarzman is now a big Trump supporter and even an advisor, at least during his first presidency. BlackRock CEO Fink is criticized for wokeness by right-wing politicians, because he wants his company's investments to be sustainable.
Both are ridiculously large corporations that shouldn't be allowed to exist, both have investments in shady companies. But you tell me which is worse.
BlackRock gets more media attention purely because it's bigger. Blackstone's business strategies are more sinister.
Fair points all. They're still the same parasite, it just budded.
If by "the same parasite" you mean capitalism, then yes, absolutely. Otherwise, nah, they're pretty different. Different owners, different investment classes, etc. The one that gets less attention is far more actively evil than the one that all the conspiracy theories are about.
If that exec fought harder for Work From Home maybe his work-life balance would still be in decent order
The whole "wait 20 years and shoot up the NFL because of highschool football" never fucking smelt right...
Even if this story is true, everyone needs to read up on Blackstone. If you're an American and have any sort of pension or retirement fund, Blackstone likely has a piece of it.
Like, you think a random guy with a billion or two is a problem?
Blackstone is trillion dollar fund, a billion dollars isn't enough to be a rounding error in their total investment.
Edit:
Edit was wrong
Not here to defend Blackstone, but it sounds like you are talking about Blackrock. Blackstone owns commercial real estate portfolio companies. Blackrock is the 11 trillion owns the world alongside vanguard one. Easy to mix them up.
If you’re an American and have any sort of pension or retirement fund, Blackstone likely has a piece of it.
Oh thank god, I'm safe.
Nah, not really.
It's everyone here, if you're an American either they have your money or you owe them money.
But chances are, you're still tied up with them somehow
https://www.fool.com/investing/how-to-invest/stocks/what-does-blackrock-own/
Also, apparently my estimate was behind, in 2024 they were over 11 trillion.
They buy up billion dollar corporations as speculative investing. In the cyberpunk future, Blackstone will be one of the last one standing.
Yeah I was just being cheeky. I have an account at a US credit union, they probably use my money in investments that touch BlackRock. I work for a US company and the health insurance I receive through them probably comingles with BlackRock assets at some point. I rent in a nice neighborhood, BlackRock's involvement in rental price fixing has likely affected me monetarily in an indirect fashion.

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