January 21, 2020
What Would an AI-Driven Capital Allocation Look Like?
Founder’s Edition, by Joseph Neu Perennial discussions of capital allocation tend to end up in essentially the same place.My friend Tom Joyce at Deutsche Bank circulated the chart below last week in his “Chart of the Day” email. This one caught my eye because it shows how corporate uses of capital, at least at the S&P 500-company level, are pretty consistent year to year. M&A and Buybacks. Tom calls out the changes: “During the current M&A upcycle, which began in late…