QuestionerIt is true that in the past, some of your investments have been greatly affected by technology in newspapers or World Book. Other businesses, where are you concerned about technology affecting them? For example, you know, Amazon or online grocery stores.
WarrenAmazon's a tough one to figure. I mean, Amazon, it could affect a lot of businesses that don't think they're going to be affected today. I mean, in the retail area, it's huge. It's a powerhouse. Geico was very affected by the Internet. And at first, we missed that. I mean, we would — Geico's got an interesting history. It was male originally, if you go back into the late 30s and early 40s, and it was very successful. And then it moved — not leaving cable — male totally behind, but it moved to television big time. And then the Internet came along, and it — I thought originally that only young people would look for quotes on the Internet. and that, you know, I mean, I never would have done it. I would have been calling on a rotary dial phone, you know, and saying, well, they said, number please, first, to get my quote on Geico forever. But it just changed dramatically, you know, to the Internet. So things do change very significantly. And if the consumer finds something that they like to do better in some new way, and Amazon has been an incredible success, it's very hard to find people who have done business with Amazon that are unhappy about the transaction. They have happy customers. And, you know, a business that has millions and millions of happy customers can introduce them to new items and then, you know, and, uh, it will be a powerhouse. And I think it could, I think it could affect a lot of businesses. It's hard for me to figure out. I think it's almost sure to hurt a lot of businesses a lot.
QuestionerYeah. Which ones do you think it'll hurt the most, Charlie?
CharlieWell, anything that can be easily bought by using. using a home computer or an iPad for that better.
QuestionerWhich of our businesses you think it can hurt?
CharlieI won't be buying the stuff because I'm habit-bound. Besides, I almost never buy anything. But I think it will hugely affect a lot of people. I think it's terrible for most retailers. Not slightly terrible, really terrible.