Tech’s Quiet Fortunes

My Uncle Barry, a man who once tried to corner the market on Beanie Babies (it did not end well), always said the key to a comfortable retirement wasn’t picking winners, it was avoiding losers. He’d be pleased, I think, with my current strategy: finding companies that just… exist reliably, and then quietly collecting the little bits of income they toss your way. It’s not glamorous, not like chasing the next meme stock, but it’s remarkably soothing. Especially when you consider the alternatives. I’ve been looking at tech, naturally. It’s where all the money seems to be, even if most of it is just… floating around. Here are three that haven’t yet inspired me to start hoarding canned goods, which is a good sign.

Alphabet

It’s Google, mostly. I still call it Google, even though it’s now Alphabet, which sounds like a preschool. They sell ads, which is how they fund everything else – the self-driving cars that occasionally confuse pigeons for stop signs, the cloud computing that I suspect is just someone else’s computer, and the endless stream of free email storage that allows me to archive every passive-aggressive email I’ve ever received. My sister, bless her, thinks they’re building a utopia. I suspect it’s more of a very efficient surveillance state, but the dividends are… acceptable.

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They’re betting big on AI, which mostly means making it harder to prove you’re not a robot when you’re trying to buy concert tickets. But the cloud business is booming, which is good, because I have no idea where all my photos are supposed to go anymore. And Waymo, the self-driving car project, might actually become something someday, if they can teach the cars to distinguish between a pedestrian and a particularly fluffy cat.

The moat, as they say, is Chrome and Android. Everyone uses them. It’s depressing, really, how easily we’ve surrendered our digital lives to a handful of tech giants, but at least they’re consistently profitable. And they’re building their own chips, which is like a baker deciding to grow their own wheat. It’s a lot of work, but it gives them more control. And potentially, a slightly better return on investment.

At around 26 times earnings, it’s not a steal, but it’s not outrageous either. It feels… solid. Like a sensible pair of shoes. Or a slightly above-average savings account.

Amazon

My mother, a woman who believes everything can be delivered to her doorstep, is Amazon’s ideal customer. She orders things she doesn’t need, then complains when the boxes arrive. It’s a complicated relationship. But Amazon, despite its many quirks, is undeniably efficient. They’ve built a logistics network that’s frankly terrifying in its scope. It’s like a circulatory system for consumer goods. And they’re using robots, which makes me vaguely uneasy, but also impressed.

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They’re also the leader in cloud computing, which means they’re renting out computer power to everyone from Netflix to the Pentagon. It’s a good business. A very good business. And they’re spending a lot of money on AI, which, again, mostly means making it harder to tell the difference between a real customer and a bot. My brother, who runs a small online business, is convinced it’s all a conspiracy to drive him out of business. He’s probably not wrong.

The moat is the logistics network. It’s just… enormous. And they’re automating everything, which means fewer jobs for humans, but more efficiency for Amazon. It’s a trade-off. And they’re building their own chips, which, at this point, seems to be a prerequisite for any tech company that wants to survive.

At around 27 times earnings, it’s cheaper than Walmart or Costco, which is surprising. It feels… undervalued. Like a slightly forgotten antique. Or a really good coupon.

Meta Platforms

My aunt, a woman who shares inspirational quotes on Facebook at all hours of the day, is Meta’s ideal customer. She’s convinced social media is bringing the world together. I suspect it’s mostly just amplifying everyone’s anxieties. But Meta is undeniably profitable. They sell ads to people like my aunt, and then use the profits to build virtual reality worlds that no one asked for.

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They’re using AI to keep people glued to their screens, which is ethically questionable, but effective. And they’re providing advertisers with tools to target users with ever-increasing precision, which is terrifying, but also lucrative. And they’re starting to serve ads on WhatsApp, which is like adding a commercial break to a private conversation.

The moat is the user base. They have billions of users, which makes them indispensable to advertisers. It’s a network effect. The more people who use the platform, the more valuable it becomes. It’s a vicious cycle. And it’s incredibly difficult to break.

At just above 21.5 times earnings, Meta is cheap. Remarkably cheap. It feels… opportunistic. Like finding a twenty-dollar bill in an old coat pocket. Or a surprisingly good deal on a slightly used toaster.

So, there you have it. Three tech companies that haven’t yet inspired me to build a bunker. They’re not glamorous, not exciting, but they’re consistently profitable. And in the current climate, that’s more than enough.

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2026-03-08 18:02