[andrekandre]

  > We have more cash than we know how to spend reasonably?

literally all kinds of things could be done...

- pay your workers a good bonus?

- invest the money in the market?

- lower prices?

  > What's the argument for stock buyback programs generally?

they used to be illegal because its a form of stock price manipulation*

* https://www.forbes.com/sites/aalsin/2017/02/28/shareholders-...

[dehrmann]

> invest the money in the market?

Unless you're Berkshire, most investors don't want this. They buy a company for its success in widgetry. If they wanted to pay someone to invest in the market, they'd buy an actively managed fund.

[nradov]

That's silly. It's a business, not a charity. When I'm a shareholder in a business I don't want management wasting my capital by investing it in the stock market when they run out of growth opportunities. Just give me the cash back (preferably in the form of stock buy backs) and then I can invest that cash in other businesses myself.

[musicale]

> Give shareholders the right to vote on buybacks.

I like the idea of giving long-term shareholders an easier way to weigh in on buybacks.

[danielmarkbruce]

No need. They aren't forced to change their % ownership and if they think the price is too high they should sell anyway.