Larry Fink has an answer to the risk of AI ripping society apart
The billionaire BlackRock boss says that with the old model of global capitalism breaking down, broadening long-term participation in markets can solve some big problems.
The man who has arguably done more to help democratise capitalism than anyone on earth has a plan to save it. More capitalism.
Larry Fink, the billionaire chief executive of the $US14 trillion ($20 trillion) investment giant BlackRock, has used his annual letter to shareholders to argue that in a world where short-term trends have all but blotted out the North Star of long-term returns, staying the course in markets remains our best hope of tackling big problems, from the growing distrust between nations and rising wealth inequality, to the potential hit to society from AI.
