Warren Buffett's final shareholder letter [pdf] • Hacker News Board

Re: Warren Buffett's final shareholder letter [pdf]

#201

Post by vintermann » Wed, Nov 12, 2025, 5:57 AM UTC

runeks wrote: post #161

vintermann wrote: post #147

Earlier quoted context omitted.

Excessive consumption isn't really the main problem with billionaires. It's the money they don't spend on consumption which is worst. The money spent on the pursuit of more money, buying up zero-sum goods that shouldn't even be for sale, like political power.

> Excessive consumption isn't really the main problem with billionaires. It's the money they don't spend on consumption which is worst. Which consumables do you think billionaires should spend their money on? And how would this improve the world?

I think billionaires are a policy failure, and should not exist.

Re: Warren Buffett's final shareholder letter [pdf]

#202

Post by rajnathani » Wed, Nov 12, 2025, 8:41 AM UTC

rahuldhamecha wrote: post #81

I took away 3 things: 1. CEOs have become very greedy. (Elon's pay package) 2. America will experience a downturn and the market could go down > 50%. 3. He's not giving a penny more to The Gates' foundation.

Only a temporary fall:

> Our stock price will move capriciously, occasionally falling 50% or so as has happened three times in 60 years under present management. Don’t despair; America will come back and so will Berkshire shares.

Re: Warren Buffett's final shareholder letter [pdf]

#203

Post by mlrtime » Wed, Nov 12, 2025, 11:54 AM UTC

input_sh wrote: post #185

senordevnyc wrote: post #175

Earlier quoted context omitted.

A majority of voters elected Trump, while Ackman failed to influence the mayoral election with his money.

Gee golly, really!? Thanks for letting me know, I had no idea! I could've also mentioned Ackman personally calling Trump in 2020 to beg him to shut down the economy for a month and my argument would be just the same: I don't want billionaires using their money to shape the world to their liking.

Good for you, I don't want bureaucrats wasting 50c on the dollar to give back what they take. You vote for what you think is right, I'll do the same.

Re: Warren Buffett's final shareholder letter [pdf]

#204

Post by mlrtime » Wed, Nov 12, 2025, 11:55 AM UTC

brnt wrote: post #151

throw20251110 wrote: post #141

Earlier quoted context omitted.

Your government is pretty dysfunctional the way it is. I'm not surprised billionaires don't want to waste their taxes on that crap.

Not surprised, but the best solution is not to let billionaires control, tax free, major parts of society instead. The best solution is building a more functional democracy which is in charge of redistribution.

Right, and who gets to decide that? People make it seem like the politicians are somehow more ethical than the billionaires.

Re: Warren Buffett's final shareholder letter [pdf]

#205

Post by zamadatix » Wed, Nov 12, 2025, 11:58 AM UTC

rajnathani wrote: post #202

rahuldhamecha wrote: post #81

I took away 3 things: 1. CEOs have become very greedy. (Elon's pay package) 2. America will experience a downturn and the market could go down > 50%. 3. He's not giving a penny more to The Gates' foundation.

Only a temporary fall: > Our stock price will move capriciously, occasionally falling 50% or so as has happened three times in 60 years under present management. Don’t despair; America will come back and so will Berkshire shares.

It doesn't take the Oracle of Omaha to come up with the bet the American economy will come back out of the next downturn.

Re: Warren Buffett's final shareholder letter [pdf]

#206

Post by pcdoodle » Wed, Nov 12, 2025, 12:19 PM UTC

rahuldhamecha wrote: post #81

I took away 3 things: 1. CEOs have become very greedy. (Elon's pay package) 2. America will experience a downturn and the market could go down > 50%. 3. He's not giving a penny more to The Gates' foundation.

I'd skip the Gates foundation at any wealth level.

Re: Warren Buffett's final shareholder letter [pdf]

#207

Post by aorth » Wed, Nov 12, 2025, 3:37 PM UTC

nocoiner wrote: post #9

bfkwlfkjf wrote: post #7

Earlier quoted context omitted.

What's the meme?

It’s literally just saying 6-7. No, I don’t get it either. My kids thought it was hilarious to watch me grapple with it, though.

Oh my gosh, my six year old just said it to me today. What is going on?!

Re: Warren Buffett's final shareholder letter [pdf]

#208

Post by dzonga » Wed, Nov 12, 2025, 3:40 PM UTC

oskarkk wrote: post #176

achenet wrote: post #174

Earlier quoted context omitted.

> Billionaires are simply people who play the money game best. False in the general case - with inherited wealth, someone who starts with a lot but grows more slowly will beat a fast grower who started with nothing, at least on short time scales. In other words, you can build a better OS than Windows today, and have better business sense than Bill Gates, but it'll still take you years to catch up to him wealth wise i…

> Examples include Elon Musk and Peter Thiel, so-called libertarians with entire business that consist of "use your friends in government to get juicy government contracts and grow rich off that sweet, sweet taxpayer money" (SpaceX, Palantir) Not true regarding SpaceX, they were just cheaper and better than the competitors. They had to sue the government to even be able to compete against Boeing/Lockheed for military…

what about gvt loans that tesla got in 2008/9 for clean energy ? close to half a billion. EV subsidies ?

Elon Musk is a tenderprenuer, as we call them in africa.

Re: Warren Buffett's final shareholder letter [pdf]

#209

Post by glitchc » Wed, Nov 12, 2025, 4:26 PM UTC

BoredPositron wrote: post #130

glitchc wrote: post #71

Earlier quoted context omitted.

> There is no moral duty to make your own country the most economically powerful one. No? Then why do we ask people to give their lives to make it a safe one?

That take says a lot about your perception of power.

Care to elaborate? In most developed countries, participation in the armed forces is a volunteer position and considered a form of employment. Even in countries with mandatory military service, the term is finite and the bulk of it is spent in training. As such, soldiers on the front line are typically active-duty veterans that are effectively employees. They can quit if they want to.

Re: Warren Buffett's final shareholder letter [pdf]

#210

Post by fruitworks » Wed, Nov 12, 2025, 4:37 PM UTC

formerly_proven wrote: post #154

fruitworks wrote: post #111

Earlier quoted context omitted.

you're splitting hairs. Squirrels evolve to save more food for themselves, everything else is an accident

In my view the effects on the ecosystem are way more important than whatever pressure creates a behavior. For both squirrels and trillionaires.

what political and social pressures are squirrels under that trigger them to gather food for other animals?