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> "Rich monopolies like Google and Facebook are going to do fine."

Both of those are primarily dependent on ads for revenue and ad spending is already dropping precipitously, as far as I've heard?

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Yeah, but look at their cash positions. I posted an analysis [1] based on their published financials in another thread; basically their revenue could go to zero and they'd be fine for a year and a half. With a more realistic 75% drop in revenues they'd be fine for about 5 years; with a 50% drop in revenues they'd still be profitable.

[1] https://news.ycombinator.com/item?id=22884042

Isn’t this a result of good governance, ie no stock buybacks?

That's one factor. Also great margins, a disciplined acquisition strategy, monopoly position, an inherently labor-efficient business model, and a shrewd prop-trading desk.

FYI they've been heavily buying back stock

Their revenue will suffer, but they have lots of cash. They are prepared to weather the storm.

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