Warren Buffett and Elon Musk Clash over Moats

(May 5, 2018) Andrew Sorkin asked Warren Buffett and Charlie Munger about the issue of moats. Earlier that week, Elon Musk, CEO of Tesla, said that the competitive moats are lame. Elon Musk thinks “the moats are nice in sort of quaint, vestigial way. And 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.”

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