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Berkshire AGM 2023 Highlights: Warren Buffett on Elon, EVs, Apple
The Art of Value
The Problems With the Car Industry
The electric vehicles coming big time, and that's a very interesting development. We're subsidizing in the United States, and we're actually doing it by putting in a pro labor time. It doesn't hate the car industry, but he definitely seems to have problems with it. He says he thinks he knows where it's going to be in ten years, Apple, but not the car companies. Again, they've got low margins. If you look at Tesla, the margins are going down. That's why they're like Apple so much that it's got consumer capture there and a moat as he sees it.
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