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- Elon Musk recently described himself as a relentlessly optimist during an appearance.
- Warren Buffett, Charlie Munger and others have said that he is a dreamer. He tries to find solutions for impossible problems.
- Buffett noted once that pessimism in the insurance business can be beneficial.
Elon Musk described himself recently as "pathologically optimist," underscoring Warren Buffett's belief that the Tesla SpaceX and Twitter chief loves to dream big and take on insurmountable obstacles.
Musk stated that he has a "pathological optimism" during Tesla's Investor Day last week. A transcript was provided by AlphaSense/Sentieo. "Who wouldn't try to do rockets and this if they weren’t pathologically optimist?"
Tesla's electric vehicle and space transportation pioneer stood by his prediction of autonomous driving for several million cars by the year-end. Musk said that the hypothetical moment of a global fleet self-driving cabs being enabled could be the largest asset increase in history.
Buffett, along with his business partner Charlie Munger, spoke highly of Musk's vision at Berkshire Hathaway’s annual shareholders meeting in this month.
The legendary investor and Berkshire CEO stated, "It is a dedication to solve the impossible. Every now and then he will do it."
Buffett's right hand man and Berkshire vice-chairman said, "He wouldn't have achieved the success he's had in life if it wasn't for his unreasonably ambitious goals."
Buffett and Munger, on the other hand, said that they prefer to focus their efforts on simpler business activities.
Munger: "We are both looking for easy jobs." "We don't wish to have so many failures."
Buffett said, "If we could do it by playing Tic Tac Toe, we would do it."
Buffett also highlighted the importance of pessimism for Berkshire’s main insurance business at Berkshire’s 2013 shareholder meeting. The company can prepare for the worst by expecting the worst. It will ensure that it has enough money set aside to cover emergencies and avoid taking excessive risks.
Buffett stated that "we have a tendency to be pessimistic about the probability of natural disasters."
Musk and the Berkshire bosses have spoken to each other several times in recent years. Buffett and Munger, for example, have both praised Tesla’s unlikely success within the auto industry. Musk teased them by saying that they could've invested in Tesla for a fraction of the current valuation in 2008.
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By: tmohamed@insider.com (Theron Mohamed)
Title: Elon Musk says he’s an unrelenting optimist. Warren Buffett made a similar point about the Tesla chief’s vision and drive.
Sourced From: www.businessinsider.com/elon-musk-warren-buffett-tesla-spacex-munger-optimism-insurance-billionaires-2023-5
Published Date: Tue, 23 May 2023 07:05:00 +0000
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