Just because I can't walk into Google headquarters and demand a dividend doesn't mean that I don't still own some portion of those profits. Yes, finance is complicated, but there's no corporate board on this planet that would accept indefinite stockpiling of cash, which is why buybacks happen, including for Google!
> Just because I can't walk into Google headquarters and demand a dividend doesn't mean that I don't still own some portion of those profits.
"Own" in what sense? You can't request them, you can't even vote for them to be spent in a certain way, and there's no guarantee that they'll be paid to you.
Someone once said this about NFTs but it also applies to the idea of Google stock as "ownership of profits" - it's like having a wife that you never seem to have time with, but you don't have to worry because you have the paperwork which says you are married to her.
> there's no corporate board on this planet that would accept indefinite stockpiling of cash, which is why buybacks happen, including for Google!
The board is appointed by voters. Those voters are Sergey and Larry. Sergey and Larry determine whether buybacks happen.
Board members have a fiduciary responsibility -- there is legal recourse here by minority shareholders even if that's not "realistic" for your average shareholder.
