Elon Musk shared a flashback moment between him and Charlie Munger where the Berkshire Hathaway Vice President confessed and listed several reasons why Tesla would fail. Musk replied to a tweet that revealed Munger’s outlook towards cryptocurrency. Munger considered cryptocurrency to be a ‘venereal disease.’
Musk then compared Munger’s latest comments with the 2009 incident when Munger shared all the ways Tesla would fail with the whole table at a lunch meeting. Musk revealed how Munger’s comments made him sad despite agreeing with the mentioned reasons. Musk tweeted, “We would probably die, but it was worth trying anyway. Made me quite sad, but I told him I agreed with all those reasons and that we would probably die, but it was worth trying anyway.”
The SpaceX Founder who is also an avid crypto advocate didn’t share any further details of the incident. His company Tesla, today is amongst the world’s top automakers reporting a record $5.5 billion profit in 2021.
Munger names crypto ‘venereal disease’
98 year old Charlie Munger revealed that he wished cryptocurrency would be banned right from the start. Munger said he’s proud of the fact that he avoided it and compared it to a venereal disease.
Munger further added, “I just regard it as beneath contempt. Some people think it’s modernity, and they welcome a currency that’s so useful in extortions and kidnappings tax evasion.”