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. Nemi · 1789734731 · focus · HN ↗
  The Chairman position is to protect company culture, not make operational decisions.
  1. cube00 · 1789735413 · focus · HN ↗
    Not sure any chairman has their ear to the ground to fully understand the culture within their organization.
    I never saw our CEO in person, never saw our chairman even on a webinar.
    And yes it's not their job to be that low level, but they can't have an idea of the culture either.
    mgfist · 1789737257 · focus · HN ↗
    Berkshire itself has less than 50 employees, so it's absolutely possible to do this.

Unofficial Hacker News client; not affiliated with Y Combinator.