Comment by jorvi

But both dividends and stock buybacks are terrible and really shouldn't exist. In a proper market, competition is so fierce that you cannot afford dividends / stock buybacks because your competitors will put all their money towards R&D and retaining & attracting the best personnel.

Then again, this has been going on for decades. Businesses used to be about being the best for your customers and personnel. But it's all become about sticking it to everyone for the benefit of the shareholders.