14 January 2019
Elon Musk revealed last month that he is building a cyborg dragon, has now announced that he’s going to start a candy company.
During his company earnings call, Musk ignored some analysts’ questions and shot down the idea of moats. That drew criticism from investor Warren Buffett, who owns a bunch of company’s. Buffett’s Berkshire Hathaway owns Heinz and Geico, as well as See’s Candies which operates more than 200 stores across the US. The company has a strong moat in the form of a loyal customer base on the west coast.
Buffet stated, “There are some pretty good moats around. 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”.
I’m starting a candy company & it’s going to be amazing— Elon Musk (@elonmusk) May 5, 2018
This led billionaire Elon Musk to announce that he will be launching a new candy company. He wrote, “I’m starting a candy company & it’s going to be amazing,” adding “I am super super serious.”
Musk didn’t reveal when or what exactly he plans to do with his candy company. Honestly, there’s a chance that Musk could indeed simply be making a joke. We should know more about it in the next few weeks. Till then stay tuned!