4 Big Tech giants have plowed over $1 trillion into stock buybacks in 10 years — more than Tesla or Meta’s entire market value::Apple poured over $600 billion into buybacks in the decade to March 31, exceeding Alphabet, Microsoft, and Meta’s combined spending.
I was assuming they had enough profit to buy back and still spend to run the company well, like Apple rolling in cash.
That really destroyed my idealism, lol. I like to believe people are fundamentally good, but then society exists, so……
People aren’t fundamentally good. People are fundamentally social, and the social pressures and incentives of their society drives the way they act to a large degree.
In this case, it drives very rich people to do very messed up stuff to become even more very rich.
What messed up stuff did Buffett and Munger do for their money? They bought stock, like 80 years ago, and then waited.