Elon Musk overestimates himself, but he's still very talented, says Charlie Munger
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- เผยแพร่เมื่อ 3 ต.ค. 2024
- Berkshire Hathaway Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger preside over the 2023 Berkshire Hathaway annual meeting. Here's what Buffett and Munger think of Elon Musk. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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Charlie Munger will be 100 years old in 7 months, and he's still so sharp
That’s crazy
@Elon Musk Hi, I sent the $800 via western union that was requested, but it says the person hasnt picked it up yet. Should I change the receiver?
@Elon-Musk_CEO so cringe
@Elon Musk I'd love to massage you.
Elon Musk has same IQ as Trump I guess. 😂
“We don’t want that much failure” 😂💀 god I love Charlie
I think that statement was misunderstood by the audience. Based on when he said it, seems like he’s referring to the amount of failure you have to be able to bounce back from to achieve the types of things Elon goes for and has gone for - you have to be comfortable in that close to flatlining style, whereas they would look to avoid it as much as possible.
Or success?
Charlie is the goat of underhanded compliments. Musk is drilling his engineers to fail fast and be fearless. Charlie compliments that, but its not his style. He prefers to pick winners from the start.
@@logik99 ...yes... this was a huge compliment from the both of the...💝
@@logik99 no he really meant failures. he wouldnt touch SpaceX even if every test launch is successful.
Even though he lived to be 99, it's sad to see Charlie not be with us anymore. Rest in peace.
Elon is a striker/ forward, while Warren n Charlie are the goalkeeper/ defender in a soccer team…. Their roles n contribution in society are different …. Both sides are equally important in life ….
Perfect analogy
Warren and Charlie don't create, they optimize and maximize. Elon creates.
Warren and Charlie are betting on who are the best players in the game, Elon is betting on himself being the best player in the game.
Football not soccer.
Yes, Warren and Charlie are f important making monet on idiots who are ameteur traders or drink poidon like Coca-Cola. There are so important without them society wilk collapse!!! Give me a break!
Dunning and Kruger warn against overconfidence, but what comes from under-confidence? A man’s reach should exceed his grasp
These guys are just fascinating. They are babbling more the older they get but suddenly they bring a statement of pure wisdom.
The closer you get to death, the less you have to worry about consequences and the more you can be genuine
More like they overestimate Elon Musk 😂
What was the statement of "wisdom" that you caught amidst the babbling?
@@ClearOutSamskaras they comprehend what their good at and can respect Elon for his talents without ego clashing and answer questions modestly respecting their own limits.
they comprehend what their good at and can respect Elon for his talents without ego clashing and they answer questions modestly respecting their own limits.
Albert Einstein said that imagination was real intelligence, not knowledge. I'd say Elon is incredibly imaginative.
Not really. Everything Elon promotes has already been thought of by others years ago. Electric cars? Not new, existed long before ICE cars. Solar Power? He did not think of that either. Rockets? Nope, already existed. He is simply good at marketing products. He's a talented salesman not real intelligence where he thought of something that has never been created like Einstein or the real Nikola Tesla did.
@A Em - Every convenience you have in our modern day life is there because of human imagination.
@@aem870 The conveniences of your reality are the result of the imagination of entrepreneurs.
As many conmen are
@@damham5689 and hardest working. Good combination.
One of the great comedy duo's.
I admire all three of them, Buffett, Munger, and Musk. It hurt my soul back when these two attacked Musk, predicting his imminent demise. Now they have to track their prior statements back because at some point you can not invalidate Elon without invalidating yourself. Nothing silences critics like success. I appreciate how they reconcile it now but this here is damage control. When these two started Berkshire Hathaway, it was an extraordinarily audacious thing to do. It’s audacious to tell a wealthy person that you know better how to invest their money than they do. The cornerstone of great entrepreneurs is a belief in oneself and one’s abilities that gives them the confidence to willfully push beyond the likelihood of failure. I’m glad to see them finally acknowledge Musk’s talent. But let’s be honest about it. They have no choice. Musk has proven himself despite their past discouragement and disapproval.
It hurts your soul? Bro, you have daddy issues. Go see a therapist.
Moron Musk is talented at talking crap about others, sleeping with Other Dudes wives and supporting Free Speech just for Him oh did I forget the guy is from South Africa hello apartheid which is why so FEW blacks work for Moron Mush at all. Some people just cant escape where their from, Sadly he is a clown who cares how much money he has, would you invite him to your house if he wasn't rich, I wouldn't
I don't think they changed their opinion about Musk. They never said he was stupid. Saying that Musk's IQ might be 150 means they acknowledged that he was very smart. They just said Musk was overestimated himself and their opinion about that didn't change. I think they still don't want to hire somebody like Musk because by overestimating himself, Musk exposes himself to unnecessary risks. The whole Twitter debacle is the latest example. Berkshire has been run carefully with cool heads. Musk is too emotional for Berkshire.
@@tiararoxeanne1318And Musk is clearly overestimating himself. It‘s not like Tesla is specifically leading anywhere, apart from announcements that happen years later when every manufacturer was there as well.
@@afa1515 Musk is very good at marketing, especially marketing himself. By raising his profile he had also raised Tesla's profile as a company, and it boosted Tesla share price. Then he used Tesla's share price as a hostage. He threatened to leave Tesla if his world-record breaking compensation package for himself was not approved. Elon leaving Tesla could bring down Tesla share price. The shareholders had to cave in, and they did😔.
These guys are so awesome. They are themselves in awe of a man like Elon's ambition and that says a tremendous amount
Elon is great and you also are great. We need great people in all fields
Elon enjoys solving problems, not the impossible.
He mean what Elon has been doing is impossible with most of the people including him self. It's true and it's a compliment.
Well, landing a falcon booster was considered impossible some time ago... There are still many of us who think it's impossible to live (and return as ones wish) in mars... Or will it?
They are SOOO OLD now. Like living fossils. But they are still smart, and you can learn much from them. Especially patience.
They went big on Aapl. I admire them for that. But that's it. You take out aapl then Look at their performance vs sp500 over past 5 years
@@claus1225If you take out any investor’s best performing stock then obviously their performance is going to suffer.
Elon actually makes something. Something that millions of people want and willing to pay for. Buffet and Munger are quite possibly the best at what they do, but fundamentally they are really good at recognizing the work of someone else and finding a way to profit from it. Which is more admirable ?
People Admire Musk, but most of us want to be like Charlie and Munger, and do "easy" job.
The value of what buffett and munger did is much larger
The world requires both and both are the best at what they do.
Def. People who invest in other people VS people who invested in themselves
Elon has never made anything. He's good a talking and taking credit for other people achievements.
If the world have no Warren Buffet and Charlie Munger, we don't feel too much difference because there are bunch of great investors like Ron barron and so on. However, if the world do not have Elon, we will feel huge difference around the world. and we don't see others.
So True 🌟
This is a fascinating observation. Well done
LOL how has Elon affected your life? Do you need a Tesla? Are you going to Mars? Do you need satellite internet?
@@AndorranStairway yes to all of those thing 🤣 (I do drive a Tesla). Starlink has been been leveraged extensively during the Ukraine, Russia war. The comment author’s ✍️ point (and it’s an interesting point) is that Warren and the BH team don’t produce anything. They allocate capital. Doesn’t make them bad people or anything it’s just an interesting thing that these guys feel entitled to sit around and assess the man actually creating things (in which they have no skin in the game). That’s their job. They assess leadership teams and attempt to capitalize on others mistakes (as they describe in this talk itself).
@@natebredeweg5351 “they allocate capital” lol. I’m guessing you don’t really know anything about what Berkshire does
Charlie ❤
Love Warren and Charlie..but these two together remind me too much of those two hecklers from Jim Henson's Muppet show Statler and Waldorf 😂
If Elon didn't have an unreasonable belief in himself he may have never attempted anything that he has succeeded in!
Well. This perspective seems new.
What???? Buffet watches bill maher
If warren and Charlie were younger and have a smaller portfolio, I think they would take the risk of investing in Elon.
You should make a YT compilation of charlie roasting people
Never would have guessed in 100 years that Warren would recommend a Bill Maher video
Hi
1:57
Statler & Waldorf 😂
Good lord, it's like Tales from the Crypt.
That explains those kinds of decision # leaving is seeing
Wise grandfathers...
Perfectly answered ❤❤
Given Musk's accomplishments, the world would be a much better place if more people overestimated themselves in the manner of Elon Musk.
Sure lets all sleep with other peoples wives and torment our workers sounds wonderful, where can I find a job like that?
@@robtheaccountant any job would allow you to do that if you're a chad billionaire, brokie.
HUMBLE THYSELF. Who wants new money 🥶
I personally deeply disagree when people claim Elon Musk is more important than these two gentlemen. The entropy of the economy itself can affect a whole country with subtle actions. A successful investment firm pays taxes and gives away charity (e.g. Warren Buffett giving away his money), a successful company as Berkshire Hathaway that owns many businesses such as GEICO also pays taxes, creates jobs and due to the price stability of the stock makes it very appealing for retirement funds, etc. to invest in, impacting millions of people. Having great investors with great companies helps investors from other countries to invest in US, helping in an indirect way the government and citizens.
Elon Musk and Warren/Charlie don’t compare. Each one has an important role in our economy and the world.
Love to both
Miss you Charlie. R.I.P.
Elon is doing the things that don't "just happen". He is the proof the a single person can change the course of history.
Zero interest rates is the only reason he hasn't had his comeuppance yet
and beliving this is the most incredible thing about what Elon is able to do.
Don't underestimate the Butterfly Effect. Any lowly laborer can change history. A banana peel can change the course of history if it was under Hitler's shoes.
@@jzhng250 nah I believe the opposite. History has a general trend in one direction or the other and some people seem like a creater of events when they are actually the symptom
he's not the one building the rockets or the cars.
He just puts together the talent and he has reached a level of wealth and fame that people just flock to him with their own projects and he stands behind the ones he believes in (but in a way he makes it his so that he looks smart and keeps the halo effect around him). These two are right in saying he overestimates himself. He's smart but not as smart as people think and definitely not as smart as he thinks
Agreed. Dream big and be prepared to fail, then you will be able to achieve great things.
Starship i want to see in my life get successful. I m only 30 😊
Hoping to see supply flights to Mars in the next couple yrs, I think Elons been sidetracked with keeping spacex profitable which is essential for his Mars plans, he saved NASA in my opinion and will accomplish phase 1 of his Mars goals in our lifetime, I believe
@@nodescriptionavailable3842 Success of starship will not only bring Travel to Mars. Huge big size satellite launching with lowest cost and high frequency will bring in changes like never before. Example Starlink satellites one day can provide free internet to entire world like GPS. We can fight global warming by putting mirrors in geostationary orbits. So on 😊😊
I guess no one is always right, these 2 are clearly wrong about Elon. As he keeps proving people wrong in every impossible thing he accomplishes the last 10 years.
They are just fundamentally different kinds of people. Can you imagine Buffett and Munger manage a rocket or e/v company? On the other hand Elon Musk probably will never be a fund manager.
You can clearly see and hear that Warren is struggling with the concept of ELON. Over time, he has become more careful of saying Elon is "a bad/not worthy investment"....
Also, funny Charlie says Elon is talented.
I agree with U, that is the margin of safety concept of him at play, Never offend anyone in power.
Warren is a capital allocation guy, not an innovator, they succeed for different reasons.
@@jonathandavis9507 by definition, Elon and Tesla are capital :)
They gotta play nice so they can be on the big boys table. No in-fighting, ever. Like politics
Jealousy has many faces
We have observed Elon give into his emotions and become irrational on extremely rare occasions. As far as I know, the same cannot be said about Charlie or Warren and they have been doing this since the mid 20th century. But Elon has changed the world for the better in more significant ways than either of them have despite being much younger. Ranking the 3 of them in terms of how admirable they are is totally subjective.
How has Elon changed the world? Yes, he has been the CEO of the best selling electric car company, but he neither invented the electric car or founded Tesla. There would be electric cars without Elon.
I'm not saying Buffett has changed the world either, although I think he has had an impact on millions of people and how they invest their money.
That said I admire people based on how good human beings they are and Buffet seems like a really decent guy, unlike Musk who seems the opposite.
@@johnj8069 If you dont see Elon as a "really decent guy" at the very least then you are probably a Woke Ideologue. Everything he does is very obviously selfless and for the benefit of the species. There are atleast 3 ways in which he has undeniably changed the planet thus far;
.Elons existence has accelerated the species transition to electric cars.
.Elons existence has caused technological advancements in rockets and has likely accelerated the species timeline for becoming interplanetary.
.Elons existence has singlehandedly reversed the tide of Wokeism and anti-free speech authoritarianism that was rolling ahead full speed in western countries for several years before he stepped into the culture wars a year or two ago.
@@johnj8069 durrr
Hello dear.. how are you doing
@@johnj8069 woosh
1. Chinese love to bow and worship since known history
2. From where did and why did all these Chinis appear in Berkshire meeting?!
Meanwhile those guy invest in Coca Cola and Mc Donalds and call themselves geniuses
I don't understand why they have to be in competition and look for easy money... Those speculators are shameless
Why do I think of the Eddie Murphy movie 'Trading Places' when I watch these guys? Joking aside, both absolute Legends, I could listen to them for days. They offer life advice which far exceeds the limits of pure financial workings.
Or the guys that sit in the theatre box seats in the muppets,lol.
They are two of the most honest business men in America that helped in many area.
Warren lowkey roasting musk for saying he thinks warrens job is boring 😂😂 elon always talks about working 90 hour weeks year round and warren is basically saying he enjoys buying a business and sitting back looking at the stock ticker climb and climb 😂
Warren most certainly works those types of hours even in his nineties.
Neither charlie nor warren are not tech innovators. They are allocators of resources. Both need to coexist. But if given an options in knowledge, any country would fight to get entrepreneur like elon who solves problems impacting human life...berkshire simply invested in coca cola for so many yrs even while kids were getting obese drinking sugar water.
Berkshire Hathaway Energy makes huge investments in clean energy. GEICO improved the cost and function of insurance by innovating. Castparts makes moves in aerospace. No they aren’t Elon Musk, but they aren’t just passive investors either. They don’t run the companies, but by being strict in ethical codes it helps good companies move to great while employing people along the way.
Elon is an allocator of business. He’s more of a Gordon Gekko than a Tony Stark.
Elon Musk is now encouraging people to make a run on the banks to help his RW friends in the house.
I like older men but only if they like kissing in public
God bless Elon Musk
Warren Buffet isn't an entrepreneur though, I wish people stop thinking that he is; he's a businessman who's great at capital allocation. Elon on the other hand is an entrepreneur who's great at understanding the limits of physics and how tech can complement this.
I'm always reminded that you are only as good as your last failure!!!
Elon Musk reminds me so much of another genius, Nathan Pritikin.
The Aim Low brothers
As much as I respect Buffet and Munger, Musk is a far bigger genius and has co tributed much more to the world than these two.
Berkshire is good at buying businesses, Elon creates great businesses. The fact that they admit this is beautiful to see.
Elon doesn't create businesses.
@@bobmcbobbington9220 ...bro
@@bobmcbobbington9220 Come on dude.
@@UziGameGP which successful businesses did Elon create besides a space program that receives billions from the government?
RIP Charlie 😔
You want to buy me a Ferrari and ride it
“Elon did a terrific job” “toe-to-toe with Bill Maher” - well, yeah, that was the most softball, worshipful interview ever. Bill made sure to cradle the balls during that encounter.
Exactly!!! That "interview" turned me off on Maher. I've never seen so much celebrity worship in my life.
1:48 tru
Good answer
Elon dreams the impossible dream. Warren and Charlie do not want to fight the unbeatable foe!
Tell me the last exciting thing done by Elon in the last 50years?
What have these two done other than devise instruments allowing them to steal from hard working people?
Seeing as it wasn't long ago that Munger said that, this is a complete waste of a question!
Buffet and Munger changed their lives. Musk changed the world. That's the difference.
Clearly we put these guy way too high on the pedestal
I love you Elon musk, you love me too❤
@Elon Musk ❤️❤️❤️
Elon was never out to make billions, that was never his job or passion. Charlie and Buffett are out to make billions, that is their job and their passionn
what kind of person attends this event with these two 110 year old men sitting there talking about someone else whilst also admitting they could never do what that person does. basically who gets excited and asks for the opinions of men who can die if you breathe on them…?
I really wanna just hear Elon chat with these 2. I honestly think a face to face might have warren coming away wanting to fund one of Elon’s projects.
Don’t u think they have lol ?
RIP Charlie
Elon > Charlie & Warren
Who are these dinosaurs?
😂
Greatest investor of all-time .
Just to add some seasoning to the comment section what these guys had said in the past was rational. No reasonable person would do what elon has done. It is a recipe for failure, and could have lost a lot of people years of accumulated work and investment. But he succeeded, he put in the work and got lucky enough to be the exception to the rule. Most would fail where he didn't and it is inadvisable to follow in his footsteps because you and I are not Elon musk.
It seems to me Charlie is describing himself when he makes his comments about Elon Musk overestimating himself, but we are all entitled to an opinion. And for those out there who don't get it, I'm not ripping on Charlie so no hateful attack comments, please.
There’s no question that Elon Musk has an IQ over 170, for a CEO of 3+ companies there are so many moving parts and variables day to day, it would require someone of extreme prefrontal cortex density to hold all those variables in one’s head and to abstract out future or present situations based on these variables. I believe Elon has tremendous cognitive horsepower almost to the point where it becomes a burden for him, his mind is constantly abstracting within totally different dimensions to that of a person with an average IQ.
It's not about IQ. There is a lot Musk doesn't understand. He reminds me so much of Nathan Pritikin.
I don't think Musk overestimates himself. I think he accepts failures while learning & then pushes to higher level performance that makes people see beyond obstacles. Focus on Objective & figure out how to get it done. Objective..failure..problem solve.. succeed..Do it.
It is that over estimation that allows him to steam on ahead when others would pull back.
👍👍👍
Glad to see Charlie finally came around before he passed. RIP
When precisely did Elon overestimate himself exactly?
I don't think Elon went toe-to-toe with Bill Maher at all. Firstly Bill has openly confessed his adoration and fanboy feelings for Elon Musk. On many occasions he's apologetic for some of the boneheaded things Elon says or does because he's such a fan. For a critical thinker who likes to think of himself as a person that isn't afraid to tell it like it is and has no allegiance to anyone side this seems somewhat counterproductive to achieving that. In this regard the interview was a soft ball interview, otherwise Elon Musk probably wouldn't have done it.
It was hard to watch
Elon = SpaceX, Tesla, tech; Munger/Buffet = Coke
seriously? he "overestimates" himself?...
Munger and Buffett are clueless on today's world of investing.
Sure ask them for common sense advice maybe a few decades ago.
We need to stop taking their advice.
It's way outdated.
Buffett & especially Munger are jokes in today's age.
They were saying bitcoin was a scam a decade ago- it's outperformed them in a decade what they've accomplished in Both of their long lives.
We need younger influencers than these oldies.
(with all due respect)
Adding “ with all due respect” doesn’t make your comment sound more sophisticated. Bitcoin produces no revenue which is why they don’t agree with it. The often give the example of either owning all the bitcoin in the world or all the farmland. To make money after owning all the bitcoin in the world you will need someone else to buy it at a higher price VS if you own all the farmland in the world, you can sell the resources it produces on an annual basis.
@@shawndunne Understood. Thanks for your honest, respectful response. As we all know tech, while risky has far out-performed Buffett's blue-chip, easy pick dividend-paying investments. Sure he is heavy into Apple, after being advised and persuaded to buy into it. Of course he believes in AAPL, but he didn't make the obvious investment on his own. He simply buys what he knows, and make the easy investments that most others are too impatient to hold onto for Decades just to retire happy. Sure old age is wisdom, but there gets to be a point where it's also a lagger and can fall behind on technologies that will change the world.
Check the whole video, they resoect Musk a lot
the problem being intelligent is DUMBING down what you say. SO let me to laught at all you clowns slurping in these guys shadow praying for a spark of their sucess. They basicly are saying. this.
We do not like people like that in our business. But we need people like that for change. To challange the impossible means to do what most are scared or wont do. If no one challanges the bear. No one is gonna get away from the bear. WE need Brave people. Foolish as they look form our point of view. WE need them.
is this sesame street lol
What a great juxtaposition of two men with more money and power than you could imagine who will be forgotten like grains of sand on a beach and another man in the same position who will be remembered forever. The question is, why?
why do you care?
pretty sure they wont be forgotten lol...
@La Pirazo I'm going to make an assumption here but I guess you don't have kids?
@SD89 within 2 generations maybe 1% of the world's population will know who they are or what they did.
@@mrmurray4374 what does having kids would mean to you?
Elon has rockets & spacemen. What does Bill Akman play with in his spare time?
He donates his money to various research fields including MIT. And he helps manage various businesses. That’s what he does with his spare time.
lets put it in this way Elon musk would be the genius of this century Tesla, space x and now the plan for running the whole world using solar energy game over
I'm the one guy booing in the background after Charlie Munger stood by his comments about forced mandatory covid 19 vaccinations. I think if Charlie stands by that he should have mandatory gastric bypass surgery forced on him. At least I made Warren and Becky laugh. 2:40
What about the huge and continuous lies, including to the investors that he is supposed to serve?
Who is Charlie? Clearly not Elon the rocket man 😎
what‘s difficult about cars ? they are all over the place.
Ask Ford, who are losing over $60k on each EV they sell, or GM, who sold only 2 Hummer EVs last quarter.
Just like your brain
Hello dear.. how are you doing
I think they do not like him.
Please don’t compare these two rentiers to someone like Elon Musk who actually makes the world a better place
Those two helped build out American rail, home building and helped to keep insurance costs down. Munger has had a life song passion for architecture and has funded and overseen many projects. They also helped to build out American food industry. No body like a dentist until they need one.
top 7 rules in every nati onadn to p3 rules ofr life livei n china enjoy the pelasures.
You said you were going to sell 500,000 EV cars in 2020 way back in the early days but you only did 480,000, what a loser Elon 😂
Can we just appreciate both Elon‘s and Warren‘s and Charlie‘s achievements for humanity 🙏🏻
What has Warren and Charlie done?
@OsamaBinLadensSecondGirlfriend You dodged the question.
Mega plan
They know Musk is like Jeff Carpoff and Elizabeth Holmes. He just hasn't been caught yet.
He's been caught, just squirms out. Been fined for stock manipulation how many times now? Trump is a big doofus mobster, bigger clown than Elon, and he's near his death bed and finally bumping into repercussions.
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