Warren Buffett vs. Elon Musk in a Sugar Coated Clash
Warren Buffett said Elon Musk wouldn’t want to come after him in the candy business. Challenge accepted.
Musk is "starting a candy company & it’s going to be amazing," he said in a Twitter post Saturday. He was pushing back after Buffett and his business partner Charlie Munger said the Tesla Inc. founder was wrong to believe "moats are lame," as Musk said in a conference call earlier this week. A moat is a business’s competitive advantage that keeps rivals at bay.
Buffett said there are still businesses with moats, including the See’s Candies unit that Berkshire owns, and that Musk wouldn’t want to take on his company in that area.
"I am super super serious," Musk said of his candy idea. He also tweeted a movie clip from the animated "Trolls," with characters dancing to Justin Timberlake’s song "Can’t Stop The Feeling!" Musk didn’t provide an explanation for the video.
--With assistance from Katherine Chiglinsky