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. fsckboy · 1789841158 · focus · HN ↗
    >there's nothing wrong with leaving things to your kids to run.
    where that's true or not, that's not what happened. this is more like "there's nothing wrong with trying to help your son in his career and getting him a job."
    Berkshire Hathaway's market cap is a trillion, and Warren Buffet's net worth has never been close to that, i.e. it's not his company so he's not leaving it to his son to run.
    You might admire Warren Buffet's acumen and think he'd be good at picking people, but all (for varying values of all) parents believe in their children so it's not easy to tell if you'd be getting his best advice in this case if you were another major shareholder in Berkshire.

Open on Hacker News to reply ↗

Unofficial Hacker News client; not affiliated with Y Combinator.