Preventing Stock Buybacks Limits Innovation

Stock buybacks reveal a company cannot innovate, and the coming Gale of Creative Destruction.

For three years at Boeing, my team worked for the CTO managing our annual R&D investment plan. At the time, we invested about $2.5B per year. $350M which was replanned each year. The job was to ensure the $2.5B would protect Boeing’s leadership in aerospace for the next 20 years. My team marshaled the views of the 4,000 engineers in Boeing Phantom w…