Elon Musk Trolls Warren Buffet with Cryptocandy

Responding to “troll” comments from Warren Buffett and Charlie Munger, Elon Musk takes to Twitter to troll back.


Warren Buffett, most known to the crypto world for his derogatory comments about bitcoin and cryptocurrency in general, may have accidentally challenged Elon Musk during the annual Berkshire Hathaway meeting last Saturday.

Referring to fellow multi-billionaire Elon Musk, the Berskshire Hathaway CEO had said:

“I don’t think he’d want to take us on in candy.”

To which Musk responded on Twitter.

What Started the Trolling?

During the annual meeting, Buffett was asked to give his reaction to Elon Musk’s recent comments about economic “moats”—a term that Buffett had coined in an old Fortune article back in 1999 that refers to a company’s competitive advantages. These so-called moats are one of the factors Buffett considers in his stock-picking process.

Musk had apparently given negative remarks about the concept during Tesla’s first-quarter earnings conference call:

“I think moats are lame. They are like nice in a sort of quaint, vestigial way. If your only defense against invading armies is a moat, you will not last long. What matters is the pace of innovation, that is the fundamental determinant of competitiveness.”

Elon Musk | Photo from Slate.com

In response, Buffett said:

“Certainly you should be working on improving your own moat and defending your own moat all the time. And Elon may turn things upside down in some areas. I don’t think he’d want to take us on in candy.”

Buffett was referring to See’s Candies, a candy manufacturer and distributor owned by Berkshire Hathaway. Buffett prides See’s Candies to be a company with a “wide moat” making it “impenetrable” to enemies—any rival candy chains that try to steal business from See’s.

Buffett’s business partner Charlie Munger reacted to Musk’s comments saying:

“Elon says a conventional moat is quaint, and that’s true of a puddle of water. And he saus that the best moat would be to have a big competitive position, and that is also right.”

Musk felt as though he was being trolled, so he decided to troll back.

The Cryptocandy Business Idea

Musk went on social media platform Twitter to announce that he was “starting a candy company”, following the tweet saying that he’s “super, super serious”

Musk later tweeted “Ok ok, just for the sake of argument, what do u wish for in candy? 🍭” to which he added “Cryptocandy”, clearly taunting both Buffett and Munger who have nothing but negative things to say about the tech.

It is unlikely, however, for both Buffett and Munger to have even seen the tweets. But it did make for some interesting discussions in the crypto space.


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