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points by hollerith 3 days ago | 0 comments

A no-dividends policy is nothing new.

Amazon, Tesla, Netflix, and Palo Alto Networks have never paid a dividend at any point in their histories as publicly traded companies.

Advanced Micro Devices hasn't paid one since 1995, Adobe since 2005.

[–] mike_hearn 3 days ago

True, although Amazon and Netflix at least have done large stock buybacks, which are theoretically equivalent except for tax incidence. So they have returned capital to investors. I didn't check for the others, maybe they did too.

[–] hollerith 2 days ago

Sure, but Anthropic never announced that it will never return capital to investors; did it?

[–] mike_hearn 4 hours ago

I think this S-1 is about as close as you can get to announcing such a policy. It doesn't literally commit them to never returning capital, but it appears to block off or rule out pretty much any chance of them doing so via various means.