Post AV1ZzabZeSRXbQf2pc by crschmidt@better.boston
 (DIR) More posts by crschmidt@better.boston
 (DIR) Post #AV1ZzabZeSRXbQf2pc by crschmidt@better.boston
       2023-04-25T21:10:00Z
       
       0 likes, 1 repeats
       
       Google today announced that the board has approved $70B of stock buybacks.Stock buybacks are not considered a universal good: "Some economists and investors argue that using excess cash to buy up stocks in the open market is the opposite of what companies should be doing, which is reinvesting to facilitate growth (as well as job creation and capacity)."At Google that might mean things like (for example) "Choosing not to fire 12,000 employees."
       
 (DIR) Post #AV1ZzbcJtAdMk219dI by fcktheworld587@social.linux.pizza
       2023-04-25T22:35:51Z
       
       0 likes, 0 repeats
       
       @crschmidt used yo be illegal, because they are market manipulation.  Thank Regan for their legalisation, iirc
       
 (DIR) Post #AV1tmkFGUqNaotNYAK by justinz@social.opendesktop.org
       2023-04-26T02:17:41Z
       
       0 likes, 0 repeats
       
       @crschmidt it's funny because they're called public companies, though they're rarely there for public good, most often private good, that of the owners/stockholders.