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- Warren Buffett, Charlie Munger and Berkshire Hathaway CEO Elon Musk discussed the issue at Berkshire Hathaway annual meeting.
- They said that the Tesla CEO tackles complex issues, which results in both major wins and major losses.
- Munger explained that they don't take as many risks as Musk because "we don't want to have so much failure".
Elon Musk is a man of big dreams and a man who tackles difficult problems. He can achieve great things, but he also has a tendency to fail dismally, according to Warren Buffett, Charlie Munger, and others.
Buffett, CEO of Berkshire Hathaway and Berkshire Hathaway said that the Tesla, SpaceX, Twitter, and Twitter CEOs "take on the impossible" during the company's annual gathering on Saturday.
Munger, Buffett’s business partner and Berkshire’s vice-chairman, said: "We are looking for an easy job." "We don't wish to have that much failure."
Buffett and Munger both credit Musk with successfully scaling Tesla to a major automaker within the fiercely competitive automobile industry. Musk, a man who dreams of colonizing Mars has pioneered the reusable rocket technology at SpaceX, and suffered high-profile failures as well as spectacular explosions.
Musk, the Tesla CEO, said that he "wouldn't like to be in my shoes."
Buffett said, "It is a dedication to solve the impossible and every so often he will do it."
Musk has distanced from Buffett over the past few years by describing himself more as an entrepreneur and product builder than as an investor. Musk acknowledged Buffett's experience, but called the Berkshire CEO's role of studying businesses and allocating capital "super boring."
Buffett, a tech billionaire, said Buffett could be the ideal US Treasury secretary, since the Berkshire CEO can do the job with less than an hour per week.
Musk also criticised Buffett and Munger, for not investing in Tesla in 2008 at a valuation of $200 million. Musk has also criticized Buffett and Munger for passing on the opportunity to invest in Tesla at a $200 million valuation in 2008.
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By: tmohamed@insider.com (Theron Mohamed)
Title: Elon Musk dreams big and tackles impossible problems. Warren Buffett and Charlie Munger are happy to aim lower: ‘We don’t want that much failure’
Sourced From: markets.businessinsider.com/news/stocks/elon-musk-tesla-spacex-buffett-munger-berkshire-meeting-success-failure-2023-5
Published Date: Sat, 06 May 2023 20:55:58 +0000
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