Tom Gardner
speaker
979 appearances
13 recordings
1 series
first heard Oct 2025
last heard 16 Aug
Tom Gardner’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 13 in all, peaking in Jul 2026 with 4.
Appearances
Thank you very much.
But capital allocation is such an amazing strength of the business, and you have a lot of options with the amazing rates of return on invested capital.
But I'm just wondering how you make the decisions about, let's say, let's take an example of buybacks.
I think you did additional buybacks this quarter.
There was a moment in time there
I could pack seven questions together here for investors about this, but there was a moment in time where the stock fell to, you know, $470 or so.
Now it's $570.
So there's a subordinate question to how people should think as investors.
As you might know, retail investors and a lot of professional investors transact too frequently and don't realize the length of the transaction.
the capability of that organization to create value for you over long periods of time.
So I'm just curious how the share buyback process happens in a given quarter, how you determine how much to put against it and whether the movement of the price in that quarter matters.
As you might imagine, I have more questions than this, but respecting your time, because 40 minutes was our target together, I want to just ask one question about employment.
And I would say employment looks relatively strong, wages look relatively strong, but...
At the same time, you have Elon Musk interviewed earlier this week saying, we are five years away from AI exceeding the sum total of the human intelligence and virtually every job that I can see.
Paraphrasing Musk is something that can be done as effectively and less expensively by humans.
by artificial intelligence and breakthroughs in these technologies.
So what are you simulating forward?
How far are you trying to see forward as the CEO of a company that requires that you're thinking as far forward as you can?
And what do you think about
employment dislocations and wage deflation.
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