Thread

Warren Buffett Steps Down as Berkshire Chairman, Names Son to Replace Him

323 points · 221 comments · saimiam

dugmartin · 1789732295 · focus · HN ↗
I guess Warren’s quote only applies to other people, not him. "It’s like choosing the 2020 Olympic team by picking the eldest sons of the gold-medal winners in the 2000 Olympics." (<a href="https://www.nytimes.com/2001/02/14/us/dozens-of-rich-americans-join-in-fight-to-retain-the-estate-tax.html" rel="nofollow">https://www.nytimes.com/2001/02/14/us/dozens-of-rich-america...)
1. dzonga · 1789733145 · focus · HN ↗
  there's nothing wrong with leaving things to your kids to run.
  that's the point of the effort after all.
  warren as smart as he is was tryna go against the grain of thousands of human evolution. if you train your kids - then most likely they would've values similar to yours. hit or miss but most times a hit.
  1. mcculley · 1789736471 · focus · HN ↗
    A lot of rich men, when younger, say that they will not leave so much of the wealth to their children. Then they get older and realize what other old men realized.
    willmarch · 1789736594 · focus · HN ↗
    Which is what?
    jnsie · 1789737105 · focus · HN ↗
    Don't grow old
    lifestyleguru · 1789737160 · focus · HN ↗
    You only have to get rich once, you will not get rich for the second time, and opportunity to get rich occurs only once in every many generations.
    expedition32 · 1789738784 · focus · HN ↗
    We live in neo feudalism. The hard part is getting to a billion but once you do your family will be part of the elite for centuries.
    [deleted] · 1789748814 · focus · HN ↗
    [deleted]
    wincy · 1789748845 · focus · HN ↗
    What’s wrong with that? Are you more entitled to Warren Buffets billions than his children are?
    moate · 1789749666 · focus · HN ↗
    Me personally? No. The labor whose value he extracted and hoarded through his investing? Yes, they are.
    mcculley · 1789738910 · focus · HN ↗
    Evolutionary psychology is stronger than whatever they thought previously.
    willmarch · 1789784560 · focus · HN ↗
    Sad.
    moate · 1789749607 · focus · HN ↗
    That it's a lot cooler saying noble things than actually DOING noble things.

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