Warren Buffett and Charlie Munger, two of the most respected investors in the world, recently weighed in on Elon Musk during Berkshire Hathaway's annual meeting. They noted that while Musk has achieved great things, he has also experienced significant failures due to his tendency to take on complex and daunting challenges.
According to Munger, Musk's dedication to solving impossible problems has been critical to his success. He noted that Musk's unreasonably extreme objectives have pushed him to achieve what he has in life. However, Munger also pointed out that he and Buffett prefer to take on less risky challenges.
Buffett agreed with Munger's assessment, stating that Musk focuses on much tougher challenges than he or Munger would be willing to take on. While Buffett respects Musk's dedication to solving impossible problems, he noted that Musk's all-consuming lifestyle does not appeal to him.
Despite their differences, Buffett and Munger have both praised Musk for his successful scaling of Tesla into a major automaker and his pioneering work in reusable-rocket technology at SpaceX. However, Musk has distanced himself from Buffett and Munger in recent years, stating that he is a builder of businesses and products rather than an investor.
Musk has also criticized Buffett and Munger for passing on the opportunity to invest in Tesla at a $200 million valuation in 2008. The company now has a market capitalization of over $500 billion.
In summary, while Buffett and Munger have different approaches to investing than Musk, they acknowledge his ability to tackle complex problems and achieve great things. Musk's dedication to solving impossible problems has been critical to his success, but his all-consuming lifestyle is not for everyone. Despite their differences, Buffett and Munger have praised Musk for his innovative work and success with Tesla and SpaceX.
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