From October 2001 through October 2022, Cisco spent $152.3 billion—95 percent of its net income over the period—on stock buybacks for the purpose of propping up its stock price. These funds wasted in pursuit of “maximizing shareholder value” were on top of the $55.5 billion that Cisco paid out to shareholders in dividends, representing an additional 35 percent of net income.
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Basically a later stage of bailing out Silicon Valley Bank
https://www.ineteconomics.org/research/research-papers/the-pursuit-of-shareholder-value-ciscos-transformation-from-innovation-to-financialization
smh, can’t believe Huawei made them do this
thats the one.