Very interesting chart in newletter: total cash on hand by industry. Tech's crazy growth dominates on this metric.
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I'd divide by market cap or revenue to adjust for sector size
Depends what you care about. Gross cash is an interesting metric for agile power - i.e. cash that could be deployed for anything.
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Yes, but too much cash on the books for a larger company isn't about agility. It's being out of ideas. Hence stock buybacks as one response.
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Do you have any thoughts on what it means?
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I'm with Isaac. Artifact of repatriation laws. More broadly, of software engineer scarcity. The only meaningful place to invest capital now.
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