“Vanguard set out in 1975 under a radical ownership structure. Our company is owned by its funds, which in turn are owned by Vanguard’s fund shareholders. We focus on meeting the investment needs of our clients.”
So in short, vanguard is customer-owned, where fidelity is owned by mostly the founding family (the Johnson’s).
https://corporate.vanguard.com/content/corporatesite/us/en/c...
Funds aren't known for being voting activists.
In the case of an investment fund, there's really just customer service and rate of return. If I have a good experience in those dimensions, why should I be concerned with ownership structure?
If you are not Cxx level at a company or at least in a high role with a reasonable shot of getting to a Cxx position in the near future don't put your money in the company you work for. Diversity is important in investing and the company you work for is the least diverse of all investment options since you could lose both your savings and your paycheck at the same time.
https://corporate.vanguard.com/content/corporatesite/us/en/c...
1. Executives
2. Large shareholders (usually institutional and rarely individuals)
3. Customers
4. Employee unions (if present)
The tech industry is an anomaly where 1 and 2 largely overlap, but this is not true in most industries. Unless you are super rich, you will never be able to have more influence over a large company than you do in the role of a pissed off customer ready to take his money elsewhere.