

Bringing stock buybacks up as a policy issue would be fantastic.
As a reminder, up until 1982 with the Reagan era introduction of Rule 10b-18, stock buybacks were often just illegal market manipulation. Most buybacks were explicitly made illegal before that by the Securities Exchange Act of 1934 because they artificially inflate stock prices allowing for bubbles, rug pulls, general instability and shenanigans.
Now companies do this nonstop to manipulate their stock prices and get off scott free due to the 10b-18 safe harbor provision.









My thought recently has been:
The universe is physical, ie made of material stuff. There is just stuff and the forces between stuff
Stuff is governed by physical laws
The interractions between things are relatively simple, but get much more complex and seemingly ramdom the more stuff you add
This seeming randomness is not true randomness because the interractions between things are governed by predictable rules
We are made of stuff, down to the neurons in our brains
Our actions and thoughts are ultimately directly caused by neuronal activity that is (in theory) predictable and governed by laws
Free will and individuality aren’t “real” in the way people typically mean. Our actions are determined entirely by the particles in our system interracting with the constituent parts of other systems.
My conclusion: this doesn’t matter on a practical level. We still experience free will and individuality. But those things are illusions caused by the interractions of many complex systems.