[PaulDavisThe1st]

> can easily insulate themselves from SpaceX/OpenAI/Anthropic if they want either by owning index funds

> ETF managers that track an index aren't allowed to put discretion into what they buy.

I detect a contradiction here.

[dragonwriter]

Pensions are not ETFs, they are very different purchasers of securities. Pension funds are sometimes referred to as relatively passive investors, but even to the extent that there may be a sense where that is accurate, they are not the same kind of passive as ETFs. They do actively make decisions about what to invest in and alter those with changing curcumstances, and they do at times actively engage with the governance of the firms that they directly invest in (and they definitely engage about the governance structures, in part to manage risk and minimize the need to engage with governance details.)

[HWR_14]

Pension fund managers are not ETF managers. They both buy securities in a fund, but that's about the extent of the similarities.