4 points
You don’t need to pay dividends to shareholders if it isn’t in the companies best interest. I don’t see how simply being publicly traded means you can’t hold a cash reserve
3 points
Yeah, most public companies hold big cash reserves. Its part of flexibility and long term growth, and the ability to weather downturns and be able to take advantage of opportunities.
Not everything is a rush to the bottom, it’s more of a middle ground. Not saying it won’t end up there, but like everything, it’s not so black and white.