Berkshire Hathaway boss Warren Buffett does not think it would be smart for Apple to invest in Tesla.
In a recent interview with Fox Business Network, the legendary investor said that buying Tesla “would be a very poor idea” for Apple.
The Oracle of Omaha added that building a long-term competitive advantage in the auto industry is much more difficult than in the tech industry, where companies can use speed, scale, and network effects to maintain an edge over competitors: “You can win in autos one year and you lose the next,” Buffett added.
Buffett also shared his advice on the recent ‘funding secured’ tweet by Elon Musk and said that while anyone can misspeak, “if you misspeak, you correct it immediately.”
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