Can Warren Buffett, the Oracle of Omaha, still see the future?
May 3, 2021. Summarized by summa-bot.
Compression ratio: 25.5%. 2 min read.
NEW YORK, NY - SEPTEMBER 19: Philanthropist Warren Buffett is joined onstage by 24 other philanthropist and influential business people featured on the Forbes list of 100 Greatest Business Minds during the Forbes Media Centennial Celebration at Pier 60 on September 19, 2017 in New York City. (Photo by Daniel Zuchnik/WireImage)
Warren Buffett's ability to pick investments that pay off over the long term has transformed him into a billionaire and made him the world's most famous investor. But as the planet heats up, his positions on the climate look increasingly short-sighted.
What's happening: At Berkshire Hathaway's annual meeting over the weekend, Buffett defended the company's decision not to release reports on how it's addressing the risks of climate change.
He claimed that Berkshire (BRKA) has a good track record for investing in renewable energy through its utility businesses, and said it would be "asinine" to make all of the group's numerous companies become more transparent.
Berkshire's Vice Chairman Greg Abel, who has been tapped as Buffett's likely successor, said during the meeting that "there's been a clear commitment to decarbonizing our businesses. " He added that the company will retire all of its coal units by 2050.
This gives Apple (AAPL) huge power over the terms it can dictate to app makers, my CNN Business colleague Brian Fung reports.
In a trial starting Monday, the judge will consider whether Apple is justified in requiring many app makers — and by extension, consumers — to use the company's payments technology.
Given the company's relatively small size, the decision — announced in a sweeping blog post from CEO Jason Fried — might have gone by with little notice, my CNN Business colleague Sara Ashley O'Brien writes.
Banning politics at work comes across as an attempt to "bottle the genie on woke politics so people can just get away with what they've gotten away with before," according to Y-Vonne Hutchinson, the founder of inclusion consultancy firm ReadySet. Hutchinson told CNN Business that what the people who are making these decisions are "not realizing — or maybe what they don't want to realize — is that in an environment where there is literally no separation between your work and your home, and your very existence is political, you can't really separate the two. "