Andrew Ross Sorkin

So let me – there's a big nuance in this actually with Warren Buffett, which is he is not a critic of capitalism, the concept. He is its champion. What he is a critic of is the ills of capitalism and the charlatans that are engaged in capitalism and those that are taking advantage of the weak in capitalism. That's the role that I think he's played as a quote-unquote conscience of capitalism.

So let me – there's a big nuance in this actually with Warren Buffett, which is he is not a critic of capitalism, the concept. He is its champion. What he is a critic of is the ills of capitalism and the charlatans that are engaged in capitalism and those that are taking advantage of the weak in capitalism. That's the role that I think he's played as a quote-unquote conscience of capitalism.

I don't think he's here saying capitalism doesn't work or it's a problem or anything else. I think he'll tell you over and over again there's no better way to do it.

I don't think he's here saying capitalism doesn't work or it's a problem or anything else. I think he'll tell you over and over again there's no better way to do it.

You know, if you're asking me, did he fundamentally change policy, change regulations, for example, around business, the way businesses behave on any given day, it's very hard to point to a long list. But I do think it's very fair to say that he made investors, he made the public smarter. And ultimately, if he actually did that, at least on the margins, he made the system better.

You know, if you're asking me, did he fundamentally change policy, change regulations, for example, around business, the way businesses behave on any given day, it's very hard to point to a long list. But I do think it's very fair to say that he made investors, he made the public smarter. And ultimately, if he actually did that, at least on the margins, he made the system better.

I think Buffett ultimately made the world a little smarter about how the system really works. And I think by the public understanding how the system really works, understanding that his secretary is paying a higher tax rate, by understanding that the hedge funds are trying to extract fees from you,

I think Buffett ultimately made the world a little smarter about how the system really works. And I think by the public understanding how the system really works, understanding that his secretary is paying a higher tax rate, by understanding that the hedge funds are trying to extract fees from you,

By explaining that when you hear that there's an independent director on a board who's a professor, you might want to question how independent they really are because they probably need the money. I mean, there are these little things that he knows about, that he understands about the world of business.

By explaining that when you hear that there's an independent director on a board who's a professor, you might want to question how independent they really are because they probably need the money. I mean, there are these little things that he knows about, that he understands about the world of business.

And by educating the public about those things, you like to think that improves the system because there are fewer people to cheat.

And by educating the public about those things, you like to think that improves the system because there are fewer people to cheat.

I think I understand Buffett in this way, which is you're right. I don't think that there's a grand vision necessarily to influence the world in the kinds of ways that an Elon Musk may want to influence the world. I don't think there's an effort to want to impact politics necessarily the way some people with wealth do. And the money for him, I think, is a scorecard. I think that's all it is.

I think I understand Buffett in this way, which is you're right. I don't think that there's a grand vision necessarily to influence the world in the kinds of ways that an Elon Musk may want to influence the world. I don't think there's an effort to want to impact politics necessarily the way some people with wealth do. And the money for him, I think, is a scorecard. I think that's all it is.

I think it's a contest of wits for him. And what he wants more than anything, I think, is actually to be this teacher about the system. Think of anything he wants to be a successful role model of how a business could work on a long-term basis.

I think it's a contest of wits for him. And what he wants more than anything, I think, is actually to be this teacher about the system. Think of anything he wants to be a successful role model of how a business could work on a long-term basis.

how capitalism can work when it's done in the best of faith.

how capitalism can work when it's done in the best of faith.

Thanks for having me.

Thanks for having me.