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#380 Four Hundred Pages of Warren Buffett and Charlie Munger In Their Own Words

Founders

NOTE

Embrace Change or Be Left Behind

Innovative technology often disrupts traditional industries, making it crucial for businesses to adapt swiftly to new advancements. Historical examples, like the shift from horse carriages to automobiles, highlight the inevitability of technological change, which can render existing models obsolete. To remain competitive, entrepreneurs must recognize these transformative trends and pivot accordingly. Moreover, true learning involves changing behavior rather than merely retaining information, emphasizing the importance of agility in business decisions. Failure to adapt may lead to significant losses, as many industries are poised to be adversely affected by emerging technologies.

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