For some reason this has become somewhat of a taboo subject, but I think at this point it's pretty clear Blackrock is guiding Iger on the direction of the company (not saying it's good or bad, just saying that's the reality of the situation).
Since Blackrock is steadfast on, in Larry Fink's own words, "forcing behaviors" through ESG, it begs the question: what are the mitigation plans should this ESG thing fail? Rather than changing anyone's minds on "inclusivity", it sure seems like it's doing more to polarize people and stigmatize companies that participate.
I'm sure this is a stretch, but is there anyone in upper management here that knows what the plan is if these trends continue? Obviously layoff after layoff and a continued decline in customers isn't sustainable, and I don't think Larry Fink could care less.