Elon Musk v. Warren Buffett: Pace of Innovation vs Economic Moat Building business models. Differences in investment philosophy
Elon Musk talked bad about Warren Buffett’s investment theory of “moats.” In the words of Investopia regarding an economic moat:
What is an 'Economic Moat' ❓
An economic moat is a competitive advantage that one company has over other companies in the same industry; this term was coined by Warren Buffett, a renowned investor and executive at Berkshire Hathaway. The wider the moat, the larger and more sustainable the competitive advantage of a firm. By having a well-known brand name, pricing power and a large portion of market demand, a company with a wide moat possesses characteristics that act as barriers against other companies.
In Berkshire Hathaway’s annual shareholder meeting, Warren Buffett made some snarky remarks about his economic moat in selling candy at See's Candy.
The exchange of words showed the egos of Elon Musk and Warren Buffett and their fundamental differences in investment style.
“Moats are lame,” Elon Musk told investors on an Tesla earnings call last week, “What matters is the pace of innovation”.
Warren Buffett
-- owner of See’s Candies -- said later that “Elon may turn things upside down in certain areas [but] I don’t think he’d want to take us on in candy”.Musk later unleashed a Tweet-storm sarcastically describing plans to “build a moat & fill it [with] candy… Berkshire Hathaway kryptonite”.
Two billionaires, who have different investment strategies: Buffett who invests in stable, near-monopolies over decades while Musk’s investment is in fast paced innovation.
Where does this put Steemit ❓
Steemit is a fast developing innovative business that is opensource and looking to disrupt the social media industry.
As long as Steemit keeps innovating, squarely putting this in the Elon Musk camp, we may see a very disruptive business model. Furthermore, we can see that Steemit has a first mover competitive advantage, ie a economic moat.
Where do you think Steemit.com should go ❓
Comment below...
Also comment if you believe or invest like Elon Musk in disruptive tech companies (probably a no brainer question) or if you invest like Warren Buffett in the slow and steady way?
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Musk is innovating but really needs to get better at building a profitable venture
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His revenue in continually increasing. Profit doesn't matter when everything is reinvested..
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nice comment dear @programmingvalue
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These are two "almost pure" approaches to business – Buffett represents the old-fashioned reliance on reliable businesses and their traits that have passed the test of time; Musk represents the promises of disruption, potential for very fast expansion in coming years, and indeed, bubbles and manias where this obsession often leads because it's much easier to pronounce big words and get enthusiastic than to provably produce billions by hard work.
Both approaches have been important. If the Buffett approach were a little bit more extreme and dominating, there would have been no progress. If the Musk approach were a little bit more extreme and omnipresent, everything would have been just bubbles and P.R.
Different industries have different typical time scales of innovation – the timescale τ after which the performance or profits increase by the factor of e or the expenses drop by a factor of e or something of the sort. For some kind of products, like candies, you don't have to watch the innovation every day. In some other fields, like the hi-tech stuff, you do have to follow what's going on every week.
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Profit isn't the only marker of success, but i get your point..
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Exactly. Look at vulture captialisim. Group buys company, sells off profitable company assets to make some quick cash. Saddles the company with debt from other companies then lets it file bankruptcy to kill that debt.
See Sears or Toys R Us.
I am looking at you Romney.
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Buffett and Musk are great at totally different industries/strategies. Elon can call moats lame but Berkshire still has about 20% compounded returns over 50 years now and has become the number two Fortune 500 company currently.
Steemit does have a good moat via the blog aspect, but there still seems to be a breakout moment waiting to happen. I'm bullish long term but it all boils down to simply assuming more people and more money will move into Steemit in the future. I can't really make educated projections on how many humans will start using Steemit, so it does have a speculative element to it insofar as betting on a trend.
I always love to see posts about Buffett here, cheers!
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very useful article dear @thefinanceguy
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I think both investments can be applied to Steemit.
Being the first decentralized social media, like Bitcoin being the first crypto, will build that moat against other decentralized social media platforms that will emerge and create that value. When the masses wakes up and searches for a crypto-based social media platform, the first thing that will pop out from their search fields will be Steemit. Unless, Facebook decides to share their wealth with the blockchain/crypto that they are developing right now, then that's something else.
Being that this platform is very new, it has that edge in innovation as well. I think that crowd development will also have an advantage in innovation.
Being first gives that lasting perception of being the best. Being a new tech gives it a lot of room for innovation.
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People use facebook to feed their ego. They post photos of them doing everything and anything to show off. To show that they have a great and fantastic life even if they don't. They can do that easily and they have their friends as their audience. Their friends do the same thing and they try to outdo each other. Facebook knows how to feed their ego. That's why many people uses facebook. They get to make themselves feel important there. During my 7 days here, I don't see that kind of pull from Steemit. Only the people with money dominates the trending page. The new people with no steem power has no chance to show off like in facebook. They can't feed their ego here. Take me as an example, No one reads my post or upvote my post here. No one even care to listen coz I have no power, my ego is totally bruised here! Lol. I don't use facebook a lot but I know a lot of people's face are stuck onto facebook. But I must admit, I show off sometimes too on facebook. I don't see that here.
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Hey, I've just read your comment. As you see it is possible to boost ones ego even on the steem blockhain.
In fact I understand your point, but want to mention that one has the possibility to follow his 'friends' only and read their posts in ones feed only. The main difference with Facebook would be the unidirectional link structure. On Facebook your posts are presented to your 'friends' and vice versa. Not so on Steemit, which is more similar to Twiiter with its 'followers' in this point.
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Interesting. Everyone is entitled to their own opinion.
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Ya, I get what you mean. I upvoted but my upvote value is so still 0.00.
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i like Elon Musk style but I also admire Warren Buffet. They are both geniuses. If I could be just a tiny fraction of what they are, that would suffice for me. They both work very hard though.
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Steemit need strive to be like Elon Musk. If not, another technology will out pace the platform.
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The battle is not yet over and today’s innovative tech swiftly becomes tomorrow’s standard investment!
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Warren Buffet is the past. Elon Musk is the future. Warren Buffet promotes fiat currency. Elon Musk will take us to the stars. Shut up and eat your candy old man.
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Nothing wrong with slow and steady growth. Buffet's past is what helps build the capital for investing in Musk's future.
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we need both of them. like yin and yang. while Buffet maintain stability and order to economy, Elon roles is to breakthrough new boundary, if i would, i pick Elon side. Only with breakthrough, humanity will trancend.
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excellent opinion dear @teachinthai
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Steemit is very fast money laundering! This is the biggest online earner platform in the world Which will pay for the publicity of its customer's post.
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I'm with Elon till the end
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I’m on Elon’s side. If I was smarter I’d be working with him to help change the world.
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Elon can change the world, Buffett rent seeks
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wow /@programmingvalue
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Personally I like elon's ideas more, I think the same...
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I think you should make reference in this article not to "Steemit" but to "Steem", see, Steemit it's another social app, like Utopian, Dlive, Dtube, etc... The thing that it's very disruptive here it's not Steemit, it's Steem, because it provides something that has never been possible in a blockchain before, the possibility of building social applications that work in the blockchain, with resistance to censorship, and with the possibility of rewarding the authors and curators of content from person to person.
Not like Facebook, a place where all your data stay there, they make money with you, and they not share nothing with you for sharing the content, not even if it's original.
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Its a very curious thing that the "disruptive things" are not the most viable bussiness models, but they are the bests for the people...
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I think you are right...Most people don't even know about extent of crypto yet yet it is disrupting...
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good idea dear @theaverageman
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like getting a good article dear /@joedukeg
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I take the approach of wanting to have both Musk and Buffett on my board of directors. That'd be a dream...but will never come true. Innovation and Steadiness can serve as a great ballast to your decision making process.
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every steemers do hard work and try to change the world. we should support them. and help them every where.
thank you
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good idia.....we will try
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I practically love the Elon Musk way, it's inspire radical innovations. However, I still believe that Buffet also inspired hardwork and success model in his time.
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When you are talking about investing, Warren Buffet is usually right. He is the best around and everyone knows it.
Now Elon has to promote innovation otherwise no one will invest in his businesses, I don't know if he truly thinks it's thenbest plan for investments.
Personally I am confortable taking risks and investing in new tech but I might loose everything one day..
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Elon Musk is the man of todays generation. Buffett is old money by now. Which one is more economical? If economical is best benefit for the larger body or population than Elon Musk. I say that due to the Buffett entry into solar energy industry. The model post his entry for contractions considering installations of solar found flaw in amortization that made it less valuable for the average customer when a benefit was present.
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I believe @steemit has its "Moat" is that it pays even if you are a small contributor, if you only read and vote, if you publish everyday or once a week. Depends on your work, but as a social platform it gives the opportunity to share and earn.
In a few weeks that I've been here, I am surprised on how much stories and the amount of people that Steemit has helped just because of the funding they had. One of them has even built a house for his family in just a few months of posting. Of course it is not a mansion in Miami or LA, but it is a house, built with steemit funds... That is something that I had never read before and it is just amazing.
That is its' "Moat" and its "Peace of innovation" so it has both of success worlds!
#DYOR and always, always, always remember to use stop/loss
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I have seen the same..children being fed in Venezuela due to steemit
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Musk is a world class conman
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He works hard, he's a good salesman, but I wouldn't go so far as calling him a conman.
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He works very hard and his success was built from hard work
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wow. i just love this post. this is helpful post bro/sis i'm waiting for your next post. keep shearing with us
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excelente Post amiigo saludos :)
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yeah! saludos
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I like the Elon way! :)
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Entirely different philosophies that can both work, really. Musk's is probably better for society, while Buffet's is better for an individual not otherwise gifted with the abilities to innovate like Elon.
Essentially Buffet seeks to create personal wealth, which is fine for a person.
Elon is attempting to change the world, which is great for everyone if he succeeds and his net worth reflects his level of success.
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fantastic article dear @telos
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nice one
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No question in my mind it's Buffett. Been in the game for years and focused on value. Pulled some real winners with AXP, AAPL and PSX to name a few. Real companies that could run themselves.
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It's a pretty tough choice, but as a South African I can't snitch on my homeboy E Musk. I love disruptive tech, otherwise I wouldn't be on Steemit, but I also respect Buffets abilities to create a billion dollar portfolio through traditional stock investing.. This being said Musk is the winner hands down..
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Nice
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thank you for share !
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this post is very good and I am his service and I have upvote this post and please support i
make
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bro i am new member plz vote me
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Well, I'm convinced.
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Look lots of our friends are thinking that Buffet is nothing just a Mughol, Musk is obiously future no dout. They both are dynamic in their own field. Hope They both live long to give us more.
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Good luck
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Good luck
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Good luck for you
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Dude don't hog all the good luck!!
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I think most hugely profitable ventures have been loss makers at a time. Innovation, even if you end up penniless has to be the way forward. The Buffets and Soros' of this world are only interested in competitive advantage and crushing innovation. In my opinion, these "Sharks" have blood on their hands, especially "georgie Boy"
Steemit is a great innovation that has come at the right time..Innovation also needs good timing, right?
I regularly go onto facebook and recommensd steemit but i get banned by over enthusiastic "admins". Enforcing facebooks will on others for free!!
Centralized Social Media is dead
Move over, steemit will take it from here, you had your chance!!
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I join in congratulations, well done guys! This number of users speaks only one thing. That the project is interesting and it is actively developing. Forward to new heights!
Great news guys! Such indicators speak only about one thing, users want to know about the project and this is a movement towards the set goal! Forward and only forward!
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Oldukça açıklayıcı bir yazı olmakla beraber kripto para brimlerindeki ilerleyiş ve gelişim süreçleri çok iyi açıklanmış. Bunun gibi yazılar blockchain adımlarının ve takibinin ne denli önemli olduğunu bizlere gösteriyor. Teşekkürler
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I think, Steemit is a very popular business platform right now, so to maintain Steemit's existence must keep innovating
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it's god projects
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nice write up
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awesome article dear @brupvoter
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Warren is a crypto hater, he's on the bank side.
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I am between 50/50 Elon and Warren. I you want to make money you have to invest in companies which have a x10 competitive advantage over the competitors. On the other hand without innovation we do not have growth, both in GDP and in the human development as well.
Take the conclusion you want but both are two geniuses worth respecting and admiring.
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excellent content @brupvoter, I would like you to talk about trading to make a more entertaining and productive conversation, regards
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This post is best and interesting and helpfully
Thanks
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💧 EOS AIRDROP
🌀 0,5 EOS = 8$
✅ Register here : t.me/EOS_BountyBot?start=SUDO5MTF01
This is a great mega EOS distribution😀😀😀
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Scam-a-da-bam-ba-dam.
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Disruption always wins! Be part of the new economy - Learn more about passive income from masternodes. https://steemit.com/masternode/@cocryptominer/masternodes-part-1-a-new-way-to-generate-passive-income
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MUSK BECAUSE HE IS CHANGING THE FUTURE
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The whole purpose of a law is to protect or benefit the people and prevent people from taking unfair advantage. Buffet wanting to keep his monopoly because a better, cleaner technology came out is unjust, therefore illegal. Buffet does not get to keep dirty, polluting technologies in place because he wants to make a buck. The world needs clean energy, the people need lower bills for energy, and we need to stop polluting and destroying the world. Do not tell me that a cleaner, cheaper, more consumer and environmentally friendly product should lose out to a dirty, outdated, monopolistic industry just because some rich dude wants to keep his profits high. An unjust law is no law at all. The laws are for the people, not one billionaire who has more wealth than millions of people .
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You got a 19.94% upvote from @postpromoter courtesy of @brupvoter-fund!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
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Elon musk finds opportunity where others think it's impossible.
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Elon Musk forever! This man is the future! Was the first that understand a big concept of "electric car". Warren Buffett for me represent only the past, the fail speculative economy..
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I like both strategies. It makes sense to make stable divident paying stock one part of one's portfolio and aggressive growth industries another. Something like crypto, on one hand, and the food industry or funeral homes on the other. :D
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Bot her zaman kazandıra bilir mi?
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nyimak..
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telling about the trust that I personally favor Warren Buffett's perspective a little more.But of them are essential for the progress of steemit .
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No Brainer, It's Musk!
Why would you build a "moat"?
To control.
Why do you need to control?
Because you're scared of a real competition! ;)
Warren Buffet, man, that old f... , how much sugar &
aspartame he put inside the youth !?
Did y'all know the secret ingredient of Coca Cola?
It's horse piss ;)
Cheers!
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wow
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Congratulations @brupvoter!
Your post was mentioned in the Steemit Hit Parade in the following categories:
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I don't see why there cant be a middle ground in all of this. To strive to break the mold an innovate like Elon and at the same time be smart with your profits and "Dolar Cost Average" it out like Buffett would do.
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Just enjoyed reading this article, yes I believe that steemit is a Elon Musk model and that Warren Buffet has served his time, Its time that Buffet makes way for the new generation and get with the times. All his negative comments about Cryptocurrency has made him less liked in the world of digital money.
Steemit is doing great the way it is moving forward and giving people the opportunity to express themselves without limitations.
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I'm not sure if anyone has expressed this particular sentiment in the comments yet (and I'm in early stages of information overload for today), but if I were an investor i would look at Musk vs. Buffet as an either/or proposition - I would want to have them both in my investment portfolio.
In other words, while waiting for the next Musk miracle, I would be quite happy to have Berkshire Hathaway to lean on in the meantime, Buffet's stance on crypto notwithstanding.
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You are comparing something thats completely different.
Steemit is not doing well, the way it should have been. Its becoming more scammy due to stupid Whale Wars, Bots, Lazy Witnesses, Nepotism, Flagging by some whales for removing grudges, etc.
Steemit currently needs many changes, and if it doesnt work, something else will surely take over. Imagine people who made 1000z on Youtube are not coming here and abusing youtube, the same can happen if something better then steemit comes. 95% of them here are not there for quality content, but money.
Elon or Buffett, they both donot invest in "Scams" or "Stupidity"
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i' new but I'm beginning to come to same conclusion..
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Many write these posts, just to make money, and this is the reason of such stupid posts here. Crypto is completely different then the stock market. Most of the crypto guys are techies, and have next to no knowledge about the financial markets.
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It seems Warren Buffett wins this battle.
Tesla keeps badly missing its production targets, and it is spending cash like crazy, it can not go on forever.
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he doesn't just own tesla
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pantastic
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That is a great word.
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warren buffet tries to play with market.sometimes in favor of crypto currency and sometimes against. diplomatic person
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bro MUSK is king. buffet is the past...period
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STEEM is a very innovative packaging of relatively recent and very disruptive tech (as someone else pointed out, it's an ecosystem with Steemit just a component)- not quite as old a business as even the newest, most amazing candy-since it's candy.
That alone bespeaks much closer similarities to Musk's various projects, many of which can't be called the kind of commercial success Buffett's had for decades- but you only have to glance at SpaceX, the ancillary companies around Tesla, the Boring Co. (how boring is it?), and other projects to see how one person can actually lever history. You'll have to use a magnifying glass to figure out the impact Buffett will have had on Western civiulization in 20 years...
Focusing on building a moat on something that by design is heavily decentralized strikes me as nearly pointless, if not impossible. Sure, Steemit, Inc. can do that- and perhaps should, but I think it wouldn't protect the larger platform at all, nor would the corporation's demise result in the network's dissolution.
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I agree, it's totally impossible...steemit and steem are evolving...
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Crazy man elon musk♨️🏅🏅
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good job
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güzel makale beğendim.
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very nice
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Excelente post
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Excellent article
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musk is innovating but for it to attain more greater height. i feel more hard work needs to be put in place
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Warren Buffett : Pace of Innovation vs Economic <3
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This content is very hard to choose for me, but I know someday I can teach myself to learn more in it. I'm a newbie here ...
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Musk win.
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Please make sure to reference the original article you're sourcing. I love the Steemit angle at the end, just make sure to include a link to the original please: https://thehustle.co/buffet-musk-candy-investing/
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That's a good informative post. @steemit platform is really mind-blowing one also a good place for investors.
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the workings of Elon Musk must be in hard work and mindful examples. fast movement without thinking carefully, the future will die alone. hopefully future steemit will not die alone.
follow me @nurm
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I wonder if you read this news and believe in it!! It's utter nonsensical. Buffet's sons firms are cryptoinvestors. Its all just what they want us to know and entertain us with it.
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I think comparing Buffet with Musk is kind of funny. Buffet is not someone who is looking to innovate new technologies, he is an investor looking for value. Musk seems like someone who is willing to take risks to make important innovations.
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They both have respect for each other, even when kidding around (Musk wants to build a candy company)...
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Love the innnovation in this post, build a better future with this is to great!
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Musk is visionary, he thinks beyond the future. Just like How AI is will be used for evil purposes in war or just like nuclear weapons today. He is great man, Man of Value and Vision.
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https://steemit.com/affiliate/@besiriyas/affiliate-reffer-link-ptc-earn-mony
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I know Warren Buffett is a successful man in life and in business because of his own ways but should we always believe what this man would say? If so, then why he's rich but those poor listening to him stays poor? As for steemit, I'm sure the developer has a plan. Let's stick to the objective of rewarding authors to create quality and unique content then everything will follow!
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nice post, I really like it.
true genius.
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I personally favor Warren Buffett's perspective a little more, however I'm not totally disregarding Musk perspective. I believe both are necessary for the success of Steemit. I requires vastly more energy and resources to maintain a fast pace for innovation, and far more difficult to maintain it. It is easy to maintain a moat once you've established one. Take Coke for an example. they maintain the same formula and spend far less on R and D than someone maintaining a fast pace for innovation. I do however believe that you do at some point need both.
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Steemit should begin to think about things that keeps the attention of users for a very long time. It is indeed this that will make steemit grow in the long round. Taking into consideration the retention market will make steemit thrive in the long run
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innovation always wins after 10 years Musk will be on top 3 will overcome Buffet
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Warren isn't an idiot, I believe he sees the value of innovation both in Elon's vision and ambitions, as well as the inherent necessity at the global scale for companies to be both competitive and innovative. Warren was there when he watched Apple turn things around from obscurity to front page relevance. He was there when gates helped spearhead the home PC revolution, and he was there for both telecoms and ISP's. So was berkshire. Watching these two bump heads is comical, as they are two sides of the same coin.
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awesome article
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thank you for share!
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This post is interesting and helpfull
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Thanks!
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