Conscious Capitalism By Choice or By Force


The New York Times reported this morning that Larry Fink, CEO of BlackRock, the world’s largest investor, will be sending a letter to the executive officers of the world’s largest public companies, informing them “that their companies need to do more than make profits—they need to contribute to society as well if they want to receive the support of BlackRock”.

Backed by over $6 trillion dollars in assets, Mr. Fink’s letter marks a massive shift in tone directly from the top of Wall Street’s upper echelons. The letter seems to endorse the mission-based social initiative model many startups have adopted. For fin-techs in particular, this may present a greater opportunity for collaboration between established corporations to partner with startups for social initiatives.