Charlie Munger trolls Tesla CEO Elon Musk during the at the 2018 Berkshire Hathaway Shareholder Meeting
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Berkshire 2018 Highlights
Question – he notes that Elon Musk this week on his Tesla earnings call said the following quote I think moats are lame they are like nice in a sort of quaint vestige away and if your only defense against invading armies is a moat you will not last long what matters is the pace of innovation that is the fundamental determinate of competitiveness unquote
so Warren it seems the world has changed business is getting more competitive pace of innovation technology is impacting everything is Elon right?
Elon says a conventional mode is quaint and that’s true of a puddle of water and he says that the best moat would be to have a big competitive position and that is also right it’s ridiculous Warren does not intend to build an actual moat ….. even though they’re quaint yeah
