According to billionaire Warren Buffett, while artificial intelligence may change the world, it won’t eliminate investment opportunities, and he is confident that despite its acrimonious political divisions, America will continue to grow.
Buffett and his colleague Charlie Munger spent the entire day addressing questions at the annual shareholders meeting for his Berkshire Hathaway conglomerate inside a jam-packed arena in Omaha.
“The emergence of new things does not eliminate opportunities. Buffett, who recently had the chance to try out ChatGPT with his friend Bill Gates, noted that other people making stupid decisions creates possibilities for you.
He claimed that the current issue is that partisanship has intensified into tribalism, and with tribalism, neither side is even heard.
According to Buffett and Munger, the United States will gain from having an open economic relationship with China. However, both nations should avoid escalating hostilities since the stakes for the entire globe are too high.
Munger remarked, “Everything that heightens the hostility between these two nations is stupid, stupid, stupid.
People travel worldwide to Buffett’s hometown to listen to him respond to inquiries on business and life. The fact that both men are in their 90s makes some shareholders feel an extra obligation to attend.
“Charlie Munger is 99 years old. I merely desired to meet him. It’s on my bucket list, said Vancouver resident Sheraton Wu, 40. I must attend as soon as I can.
Chloe Lin, a Singaporean, made the trip for what she described as “a once-in-a-lifetime opportunity.”
The two businessmen talked about a variety of things, including:
— According to Buffett, bank authorities must devise a method of punishing CEOs and board members who take dangerous actions that endanger a bank.
— The United States is carrying a troubling amount of debt, but it’s unclear how much more it can take on without depreciating the dollar and endangering the country’s status as the world’s reserve currency.