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. micromacrofoot · 1789743963 · focus · HN ↗
  Yes, the powerful always do this. It might be challenging to find an exception.
  It's not as rewarding to consider that you've reached your position by more good luck than effort, so you hand down advice from on high because clearly you're smarter than everyone else (doesn't help that many people treat you this was to gain access).
  Then you continue to do whatever you want despite your own advice because of course... you're smarter than everyone else.

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