this post was submitted on 30 Aug 2023
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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.

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[–] [email protected] 44 points 1 year ago (1 children)

Didn’t buybacks used to be illegal?

[–] [email protected] 50 points 1 year ago (1 children)

After they helped cause the Great Depression, yes.

[–] MaybeItWorks 19 points 1 year ago (1 children)

Good thing we learned from that.

[–] [email protected] 37 points 1 year ago

The only thing trickling down is shit and piss.

[–] [email protected] 31 points 1 year ago (1 children)

Any minute now the trickle down will start and everything will be fine. Any minute now...

[–] [email protected] 26 points 1 year ago (1 children)

We need to go back to having buybacks be illegal. It’s money that SHOULD be spent on innovation, R&D, and more importantly, people.

[–] [email protected] 7 points 1 year ago

But you don't understand. This is about people. Like a dozen different people at least!