MM110: The importance of AI, cloud computing and advertising at big tech firms
Market Maker
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Google's $70 Billion Share Buyback
Google announced a $70 billion share buyback pretty much exactly a year ago today. The trick that really, I guess was pioneered by Apple pioneered in the sense of relentlessly buying back hundreds of billions of dollars of your stock. So it's just juicing that bottom line, an apple of just geniuses at it. And they've got, obviously you need cash to pull it off. They're facing a bit of an existential threat, which I've never ever had in their entire history in the shape of chat GPT.
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