Charlie Munger Quotes about Technology

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The great lesson in microeconomics is to discriminate between when technology is going to help you and when it's going to kill you. And most people do not get this straight in their heads. But a fellow like Buffett

The great lesson in microeconomics is to discriminate between when technology is going to help you and when it's going to kill you. And most people do not get this straight in their heads. But a fellow like Buffett does. For example, when we were in the textile business, which is a terrible commodity business, we were making low-end textiles-which are a real commodity product. And one day, the people came to Warren and said, "They've invented a new loom that we think will do twice as much work as our old ones."

Charlie Munger

Real, Technology, Thinking

In Gillette's case, they keep surfing along new technology which is fairly simple by the standards of microchips. But it's hard for competitors to do. So they've been able to stay constantly near the edge of improvements in shaving.

Charlie Munger

Technology, Simple, Surfing

"A Lesson on Elementary, Worldly Wisdom as it Relates to Investment Management and Business". Charlie Munger's lecture to the students at the University of Southern California in Los Angeles, 1994.

If the technology hadn't changed, they [newspapers] would still be great businesses. Network TV [in its heyday], anyone could run and do well. If Tom Murphy as running it, you'd do very well, but even your idiot nephew could do well. Fortunately, carbide cutting tools [such as those made by Iscar] don't have these types of substitutes.

Charlie Munger

Running, Cutting, Technology

Charlie Munger's advice on investing at the 2006 Berkshire Hathaway Annual Meeting, www.tilsonfunds.com. May 6, 2006.