{"id":76405,"date":"2018-05-06T10:48:12","date_gmt":"2018-05-06T10:48:12","guid":{"rendered":"http:\/\/www.bnreport.com\/why-warren-buffett-and-elon-musk-are-fighting-over-candies\/"},"modified":"2018-05-06T10:48:12","modified_gmt":"2018-05-06T10:48:12","slug":"why-warren-buffett-and-elon-musk-are-fighting-over-candies","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/why-warren-buffett-and-elon-musk-are-fighting-over-candies\/","title":{"rendered":"Why Warren Buffett and Elon Musk are fighting over candies"},"content":{"rendered":"

By Katherine Chiglinsky, Noah Buhayar and Sonali Basak
<\/strong>
Elon Musk<\/a> recently took aim at the idea a successful business needs a \u201cmoat\u201d \u2014 a competitive advantage that keeps rivals at bay. The pace of innovation, he said, is more important in the long run. <\/p>\n

On Saturday, Warren Buffett<\/a> and his business partner, Charles Munger<\/a>, shot back. <\/p>\n

\u201cElon says a conventional moat is quaint, and thats true of a puddle of water,\u201d Munger, 94, said. \u201cIts ridiculous. Warren does not intend to build an actual moat. Even though theyre quaint.\u201d <\/p>\n

Munger and Buffett, 87, were responding to a question at Berkshire Hathaway<\/a> Inc.s annual meeting about Musks comments this week. The pair often talk about trying to expand the \u201cmoats\u201d around their businesses. <\/p>\n

\u201cFirst of all, I think moats are lame,\u201d Musk said during an earnings call for his Tesla Inc. on May 2. \u201cTheyre like nice in a sort of quaint, vestigial way. But if your only defense against invading armies is a moat, you will not last long. What matters is the pace of innovation. That is the fundamental determinant of competitiveness.\u201d <\/p>\n

While Buffett said it does seem like more moats have become susceptible to invasion recently, he still observes plenty of companies, such as the Sees Candies unit that Berkshire owns, where theyre holding firm. <\/p>\n

\u201cElon may turn things upside down in some areas, I dont think hed want to take us on in candy,\u201d Buffett quipped. \u201cThere are some pretty good moats around.\u201d <\/p>\n

Musk didnt stay silent. \u201cIm starting a candy company & its going to be amazing,\u201d he wrote in a Twitter<\/a> post Saturday, responding to Mungers remarks. \u201cI am super super serious.\u201d <\/p>\n

He followed up with another tweet: \u201cThen Im going to build a moat & fill it w candy. Warren B will not be able to resist investing! Berkshire Hathaway kryptonite \u2026\u201d <\/p>\n

And then: \u201cSaying you like moats is just a nice way of saying you like oligopolies.\u201d <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

[contf]
\n[contfnew]
\n <\/p>\n

ET Markets<\/a><\/h5>\n

[contfnewc]
\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"

By Katherine Chiglinsky, Noah Buhayar and Sonali Basak<\/p>\n

Elon..<\/p>\n","protected":false},"author":1,"featured_media":76408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-76405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nWhy Warren Buffett and Elon Musk are fighting over candies - Business News Report<\/title>\n<meta name=\"description\" content=\"By Katherine Chiglinsky, Noah Buhayar and Sonali Basak Elon..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/why-warren-buffett-and-elon-musk-are-fighting-over-candies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Warren Buffett and Elon Musk are fighting over candies - 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