Buybacks are just money changing hands. A company has extra money that they can’t invest well, so they buy out some of theirs owners instead. The money doesn’t

Buybacks are just money changing hands. A company has extra money that they can’t invest well, so they buy out some of theirs owners instead. The money doesn’t disappear. It goes to owners who can pay taxes with it, invest in bonds to make roads, invest in startups, buy cars. The idea that companies that can’t invest well should be forced to spend like drunken sailors is a bit silly.