When someone takes their existing business and tries to transform it into something else - they fail. In technology that is often the case. Look at Kodak: it was the dominant imaging company in the world. They did fabulously during the great depression, but then wiped out the shareholders because of technological change. - Charlie Munger 1 Share Now -
There's more honor in investment management than in investment banking. - Charlie Munger 2 Share Now -
The perfect example of Darwinism is what technology has done to businesses. - Charlie Munger 3 Share Now -
