Tesla CEO Elon Musk Says Warren Buffett Should Invest in Tesla Following Comments at Berkshire Hathaway Annual Meeting. "It's an Obvious Move."

Benzinga

Warren Buffett discussed the risk that autonomous vehicles might pose to auto insurers by reducing accidents at Berkshire Hathaway's annual meeting. He acknowledged that fewer accidents would be beneficial for society. Executive Ajit Jain added that while accident frequency may decrease, the repair costs per accident could increase, potentially offsetting the reduced volume of accidents. Elon Musk responded on Twitter that Buffett should take a position in Tesla, saying, "It's an "obvious move" given Tesla's progress on autonomy and FSD.

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00:00It's Benzinga, and here's what's on the block.

00:02Warren Buffett discussed the risk that autonomous vehicles might pose to auto insurers by reducing

00:07accidents at Berkshire Hathaway's annual meeting. He acknowledged that fewer accidents would be

00:12beneficial for society. Executive Ajit Jain added that while accident frequency may decrease,

00:17the repair cost per accident could increase, potentially offsetting the reduced volume

00:22of accidents. Elon Musk responded on Twitter that Buffett should take a position in Tesla,

00:26saying it's an obvious move given Tesla's progress on autonomy and full self-driving.

00:31Tesla's stock rose 2% on Musk's comments, having gained 25% since first quarter earnings

00:36when Musk touted Tesla's focus on autonomy. For all things money, visit Benzinga.com.

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