Episode 8: On 3G Capital, brick-and-mortar retail, valuing a business, Apple and IBM, artificial intelligence, alternative energy, and Amazon CEO Jeff Bezos.
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Buffett talks about how the Internet has revolutionized most businesses. Regarding valuing businesses, Buffett says book value is relevant, market value is more significant, but intrinsic value it the best method. Also, Buffett considers Apple to be more a consumer goods company than a tech company. On artificial intelligence, Buffett thinks it’s a good thing but could have huge social and political implications. Meanwhile, Buffett says he’s got a big appetite for wind and solar energy. The duo explain that what Bezos accomplished with Amazon was extraordinary and they’re not sorry they missed it.