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
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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.
Yea, that's the corollary that I'm most interested in. They have the ability to project this power into new realms, but lack ideas.
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What's it say when the biggest / most innovative companies are out of ideas? Are we at the final stage of the Perez curve?
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