What happens when the last share is bought back? (yes I know, that share would be worth just more than the company can afford to pay, but what if?) Stock buyba

What happens when the last share is bought back? (yes I know, that share would be worth just more than the company can afford to pay, but what if?) Stock buybacks are better than dividends (shareholders get to choose when they liquidate), and I can see no actual downside. They only goose the per share price because suddenly there are fewer shares to represent the same company. More and more, politicians seem to focus on issues with little actual merit, instead of super important issues like healthcare costs, because no donors can get upset. For example, if buybacks are outlawed, it’s not really a big deal and there won’t be pushback. They can claim a victory without actually changing anything, for better or worse, for anyone.