# Warren Buffett Says SDC's will be bad for business...



## TwoFiddyMile (Mar 13, 2015)

http://www.businessinsider.com/berkshire-hathaway-meeting-buffett-self-driving-auto-insurers-2017-5


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## Lee239 (Mar 24, 2017)

I like how they didn't mention Uber when the mentioned SDC companies


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## TwoFiddyMile (Mar 13, 2015)

Lee239 said:


> I like how they didn't mention Uber when the mentioned SDC companies


Yeah, Google/Waymo is suing Uber out of the SDC business.


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## Jermin8r89 (Mar 10, 2016)

TwoFiddyMile said:


> Yeah, Google/Waymo is suing Uber out of the SDC business.


Itll be good buisness. Americans are stupid and would get into fights,riots ,delays and unprofessionalsms just like the airlines and trains.

I feel so smart and happy i have my own car


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## ABC123DEF (Jun 9, 2015)

We sure don't want any long haul self-driving trains running around. Although, they do have remote controlled locomotives in some of the switch yards. I've seen signs about them at the Canadian National terminal yard before.


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## Jermin8r89 (Mar 10, 2016)

ABC123DEF said:


> We sure don't want any long haul self-driving trains running around. Although, they do have remote controlled locomotives in some of the switch yards. I've seen signs about them at the Canadian National terminal yard before.


Could you imagine getting done with grocery shopping and its cold and snowy? Itd be like black friday all the time just to get a ride home.


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## sellkatsell44 (Oct 25, 2015)

this coming from what seems like, anti-tech man.

still uses a flip phone

and only recently said apple is a buy

http://www.businessinsider.com/warr...haway-miss-amazon-google-walmart-death-2017-5


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## TwoFiddyMile (Mar 13, 2015)

sellkatsell44 said:


> this coming from what seems like, anti-tech man.
> 
> still uses a flip phone
> 
> ...


Whereas one certificate of his stock Berkshire Hathaway starts at something like $245,700.00 when they become available, which is rarely.
When Warren Buffett farts, they clear a forest to manufacture toilet paper.
So what if he can't work an iPhone- he has predictive skills which you and I do not.


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## REX HAVOC (Jul 4, 2016)

TwoFiddyMile said:


> http://www.businessinsider.com/berkshire-hathaway-meeting-buffett-self-driving-auto-insurers-2017-5


I didn't read the article but I'm sure he realizes how many low skilled jobs will be lost to this technology. It will damage economies on a global scale because so many people will lose their jobs. I don't know why he has waited so long to speak out. Maybe he knows the technology is getting ready for Prime Time.


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## sellkatsell44 (Oct 25, 2015)

TwoFiddyMile said:


> Whereas one certificate of his stock Berkshire Hathaway *class A share* starts at something like $245,700.00 when they become available, which is rarely.
> When Warren Buffett farts, they clear a forest to manufacture toilet paper.
> So what if he can't work an iPhone- he has predictive skills which you and I do not.


I'm not saying he doesn't have his uses

I'm saying that he can't predict every sector and clearly tech is one of his weak points

So that makes your answer to mine ineffective because this whole post is about his prediction with in regards to self driving cars, aka technology, and not about his portfolio as a whole or his stock Berkshire (one of my colleagues is a holder and actually flew out to the meeting); but thank you.


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## TwoFiddyMile (Mar 13, 2015)

Lol


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## 123dragon (Sep 14, 2016)

Most people in this thread didn't read the article. Buffet owns a lot of insurance businesses, and the article is speaking from that context since he believes there will be less accidents which will drive down accidents and his margins in the business....



> If driverless cars became pervasive it would only be because they were safer," he said. "That would mean that the overall economic cost of auto-related losses had gone down and that would drive down the premiums" for companies like Geico, a Berkshire wholly owned subsidiary.


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## Jagent (Jan 29, 2017)

Buffet also owns railroads. He's scared to death of self driving trucks. He was also the main reason why the government wouldn't approve that pipeline. His railroad hauls the oil.


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## sellkatsell44 (Oct 25, 2015)

123dragon said:


> Most people in this thread didn't read the article. Buffet owns a lot of insurance businesses, and the article is speaking from that context since he believes there will be less accidents which will drive down accidents and his margins in the business....


So he should have started to slowly wean out of the insurance business and invest in tech companies...

Insurers don't just do auto, and they usually do bundles.

But still, doesn't mean it isn't a good idea for insurance companies to prepare themselves for this in the future now

Maybe warren can start to change his position, like 72 mil worth, Lol


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## Mars Troll Number 4 (Oct 30, 2015)

sellkatsell44 said:


> So he should have started to slowly wean out of the insurance business and invest in tech companies...
> 
> Insurers don't just do auto, and they usually do bundles.
> 
> ...


Sure there's a lot of big names in tech that are worth a lot of money, but that's not necessarily the case with all of them.

Uber is one lawsuit away from having to jack up it's rates by a massive margin across the country, and paying out BILLIONS in lawsuits, possibly more than they have EVER collected in revenue.

If uber was held to employee minimum wage pay standards, in their entirety, without any benefits or anything.... Just THE PAY RATE

The pay rate that employees would have to be getting to legally at minimum waged would be..

$7.25 + 53.5c per mile...

Which if your driving 15 miles every hour (which is a low number) puts you at need

$15.27 PER HOUR... MINIMUM....

Driving 20 miles per hour average in California puts the minimum amount that uber would have to pay out to ...

10.50+ $10.70

$22.20 PER HOUR.. To MEET EXISTING FEDERAL MIN WAGE LAW

If this ever catches up to uber they are done


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## sellkatsell44 (Oct 25, 2015)

Mears Troll Number 4 said:


> Sure there's a lot of big names in tech that are worth a lot of money, but that's not necessarily the case with all of them.
> 
> Uber is one lawsuit away from having to jack up it's rates by a massive margin across the country, and paying out BILLIONS in lawsuits, possibly more than they have EVER collected in revenue.
> 
> ...


Big if

Kind of like if some of the big name tech companies will ever bring their money back into the US as it's currently spread overseas to avoid government taxing

Not saying one is directly related to the other

Just saying if we're throwing out hypothetical possibilities


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## Mars Troll Number 4 (Oct 30, 2015)

The feds holding Uber to paying minimum wage rates, (not saying ANYTHING about overtime or other benifits, just wage rates) isn't that out of the question.

In fact an IC overhaul on the federal level might be around the corner as the number of people in IC positions increases.


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