
William Lazonick on How The Stock Market Killed Tech
Better Offline
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The Dangers of Buybacks: A Call for Innovation
This chapter critiques the detrimental focus on stock buybacks in tech companies, arguing that it undermines innovation and product quality. It explores the historical roots of the shareholder value concept and its negative effect on corporate governance and social responsibilities. The conversation advocates for legislative reforms, such as the Reward Work Act, to prioritize sustainable practices and enhance worker representation.
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