Elon Musk "super serious" about starting candy company

CREDIT Alberto E. Rodriguez  Phillip Chin

CREDIT Alberto E. Rodriguez Phillip Chin

Presumably because Buffett likes to invest in companies that have large moats-not physical ones but of the business variety-which Musk referred to as an oligopoly, or a business market where there's limited room for any competition. "What matters is the pace of innovation - that is the fundamental determinant of competitiveness". While Musk has a habit of sharing all his ridiculous ideas which include building flamethrowers and sell them to fund his tunnel-digging project, using party balloons for rocket launches and building a cyborg dragon, he also has a habit of making some of this dreams a reality.

Warren Buffett and Elon Musk engaged in a repartee this weekend that culminated in Buffett goading a candy crusade and Musk considering the call.

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The jocular series concluded with a more serious critique of Buffett's moat theory. During a recent Berkshire Hathaway shareholder meeting, he responded to Musk's comments about moats, claiming that "there are some pretty good moats around".

Rather than probe into Tesla's finances, Russell chose to ask Musk about the company's technology and future plans.

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"Certainly you should be working on improving your own moat and defending your own moat all the time", Buffett said.

Eventually, Musk began crowdsourcing ideas for his hypothetical candy company, and his followers began suggesting all manner of products for him to develop, from healthy candy to candy that doesn't cause cavities. "And Elon may turn things upside down in some areas", Buffett said.

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The electric vehicle maker warned in a securities filing it "may need or want to raise additional funds in the future", adding that "these funds may not be available to us when we need or want them, or at all". But Musk went ahead and doubled-down. All this seems interesting but can Elon Musk be the real-life Willy Wonka? "Even though they're quaint", said Munger. "I can't criticize anybody else for wise-assery".

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