What I’m saying is that when you say “people are the shareholders”, they’re not the shareholders that matter. BlackRock, Vanguard, Fidelity, these are the shareholders that major publically traded companies care about. They might technically need to care about retail investors as well, in the end they’re not the ones who have the power to sway the votes one way or another.
They care about all shareholders as it is the law.
What I’m saying is that when you say “people are the shareholders”, they’re not the shareholders that matter. BlackRock, Vanguard, Fidelity, these are the shareholders that major publically traded companies care about. They might technically need to care about retail investors as well, in the end they’re not the ones who have the power to sway the votes one way or another.