For those not familiar there is a secret religion which scorns crosses in favor of a black cube. I am not saying that dumb 1990s house band from Italy worships lower dimension entities (despite the sus lyrics and recent appearance in a prolific serial killer show).
Let’s define a black box and then go from there. You have some data or system going in, a proprietary algorithm or system (how US Congress described social media), and then the resulting output from that processing. Basically the opposite of open source and therefore everything that is good.

There is an old training slogan “garbage in, garbage out,” but what if the machine itself is imperfect and needs light shown inside it? Light like a thunderbolt through the meditation room in the UN.
First Black Cube, then Black Rock, and now Blackstone. Blackstone has limited withdrawals on two of it’s private funds the $69 Billion fund for retail and commercial investment mainly in the Sun Belt ($BREIT) and the Blackstone Private Credit Fund ($BCRED). JPMorgan analyst Kenneth Worthington wrote to clients “issues in $BREIT could also weigh on $BCRED somewhat” indicating minor contagion within the firm.

Blackstone has stated they have $8 Billion in liquid capital at the investment firm and this 5% of NAV lockout with redemptions near $1 Billion. Stephen Schwarzman, CEO and co-founder of Blackstone, touted their performance against other funds. Up 9% while the general market is down 10-30% in REITs? Look I get it the Sun Belt is great, but no.