William Lazonick on How The Stock Market Killed Tech

In this discussion, William Lazonick, a noted professor emeritus of economics and co-founder of the Academic-Industry Research Network, dives deep into the pitfalls of shareholder capitalism. He explains how stock buybacks stifle tech innovation, replacing genuine progress with value extraction. Lazonick critiques corporate strategies, particularly in firms like Apple, and advocates for legislative reforms to prioritize sustainable practices. He emphasizes the urgent need for grassroots movements to empower workers and tackle economic inequality in the face of stagnation.