“People went from riding passenger trains to riding airplanes. But the answer wasn’t to get in the airline business - but rather to get out of the passenger business. Just because your product is disappearing is no reason to go into the successor products which are driving you under. Television has gone from being in nobody’s home to having multiple sets in almost everybody’s home. Yet the net amount of money made by U. S. companies manufacturing TVs is probably negative.” —Warren Buffett
Links - 10/16/2023
Links - 10/16/2023
Links - 10/16/2023
“People went from riding passenger trains to riding airplanes. But the answer wasn’t to get in the airline business - but rather to get out of the passenger business. Just because your product is disappearing is no reason to go into the successor products which are driving you under. Television has gone from being in nobody’s home to having multiple sets in almost everybody’s home. Yet the net amount of money made by U. S. companies manufacturing TVs is probably negative.” —Warren Buffett