Big investor Warren Buffett’s main reason for avoiding Twitter (TWTR) highlights a key difference between him and Elon Musk, the world’s richest man who recently bid for the social network.
The billionaire investor and CEO of Berkshire Hathaway (BRK.A) recalled one of his favorite pieces of advice in a 2017 interview with CNBC: “You can always tell someone to go to hell tomorrow. .”
“Email and Twitter both make it very easy for you to fix that, because if you can hit something, if you’re mad at someone, it’s easy to tell him to hell in 10 seconds,” Buffett said.
The Berkshire boss, who has 1.7 million followers on Twitter, said the instant messenger allowed many people to say things they shouldn’t, or overreact to criticism.
Buffett tweets
The mega-investor pointed out in a 2018 interview with CNBC that he never tweeted in person and didn’t know how to check other people’s tuition fees, “but I still feel like I have a very fulfilling life,” he joked.
There isn’t much activity on his Twitter page, and he doesn’t follow anyone there. Still, his profile appears to be lighthearted and has attracted over a million people.
The 91-year-old added that he sees no compelling reason to tweet in another interview with CNBC later this year. “I don’t have an overview of all kinds of things every day,” he explained.
Buffett added that many were skeptical of his most infamous posts, dismissing Tuites if there was a two-hour delay before they were released.
“Your first impulse is not necessarily the best course of action,” the investor said. “It was really a mistake to react immediately to everything that happened.”
The difference between Elon Musk and Warren Buffett on Twitter
The caution and restraint that Buffett preaches contrasts with the casual and impulsive tweeting style of Elon Musk, who has 92.5 million followers on the Bluebird network. It ranges from opinions on politics and markets to memes and trivial commentary.
However, Musk, who is also the CEO of both Tesla (TSLA) and SpaceX and was recently acquired by Twitter for $44 billion, found himself in legal trouble for his conduct on the platform
Musk and Buffett spend their time on social media. Recently, the world’s richest man commented on a video of a Berkshire Hathaway meeting where Buffett discussed the merits of Bitcoin (BTC). In the post, the billionaire sarcastically stated that the mega-investor mentioned Bitcoin several times in his speech
Not long after, the billionaire advising his followers on investing and the market, unlike the Berkshire CEO, is betting on the world of cryptocurrencies
For Twitter, Musk said he would prioritize free speech and ease moderation of content when he controls the company. Such an approach could open the door to more brutal and frivolous comments that Buffett has warned about.
This new perspective is already having an impact. The world’s richest man said on Tuesday that he would lift the suspension of former U.S. President Donald Trump’s Twitter account if the acquisition of the social network is actually approved by U.S. regulators.
Musk, on the other hand, plans to add an edit button that would allow social network users to soften language or remove personal insults after a tweet, helping them communicate more discreetly.
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