Teach Me How to Startup
When asked about bitcoin on CNBC’s Squawk Box on Friday, billionaire investing tycoon Warren Buffett had his answer ready to go.
“Stay away from it,” Mr. Buffett said, “it’s a mirage, basically.”
Mr. Buffett’s conclusion about bitcoin seems to be that bitcoin is just a system for “transmitting money.” He gave Read More
Mark Zuckerberg is hardly the first billionaire turned off by the antics of Rap Genius cofounder Mahbod Moghadam. As Betabeat learned while reporting a feature on the startup’s $15 million investment round from Andreessen Horowitz, Mr. Moghadam’s career in tech began only after he yapped his way out of an internship with Warren Buffet.
In the midst of the recession, Mr. Moghadam was given a year off–with reduced pay–from the law firm Dewey & LeBoeuf. Only Berkshire Hathaway found his personal blog, Beneficent Allah, where he wrote a satirical billable memo referencing the “Ballstate Insurance Company.” Allstate was a client of Dewey’s, the offer was rescinded and long story short, Mr. Moghadam now gets to dine with Nas.
IBM? YES, IBM.
Warren Buffett and his Bershire Hathaway partner Charlie Munger could care less about Facebook’s big Initial Public Offering (I.P.O.) Road Show, which drops the needle tomorrow. While Mr. Buffett was somewhat diplomatic in explaining to CNN that his company never buys into offerings, Mr. Munger was as forthright as you might expect an 88-year-old billionaire to be:
Let’s say you’re one of the foremost investment geniuses of the universe, hailed as the most prominent and successful value investor in the world. Your last two gigantic bets have been on Goldman Sachs getting bailed out by our government and a deal with Bank of America you dreamed up in your bathtub that looks more like a curbside mugging by the Six Flags mascot than it does a deal with two sides to it. So what do you get into now? Ah, yes: those computer machines of the future! And has he got just the company to do it with: IBM!