Warren Buffett | Bill Gates | Lecture | Columbia University | January 27, 2017 | Summary and Q&A

Summary

In this video, Warren Buffett and Bill Gates engage in a discussion at Columbia University. They talk about their friendship, their shared curiosity about the world, and their love for reading. They also express their optimism about the future of America and discuss the importance of vaccines in public health. They touch on topics such as artificial intelligence, energy, and biology. They encourage students to pursue their passions and not to fear failure. Both Buffett and Gates emphasize the need for continuous learning and the importance of education in addressing societal challenges.

Questions & Answers

Q: What do Warren Buffett and Bill Gates share in their friendship?

Warren Buffett and Bill Gates share a curiosity about the world and find it an interesting place. They enjoy comparing notes and having fun discussing various topics.

Q: What surprised Warren Buffett about Bill Gates?

Warren Buffett was surprised by Bill Gates' curiosity and focus. He found it interesting that Bill asked questions that others hadn't thought of before and that he had a broad model of the world.

Q: What surprised Bill Gates about Warren Buffett?

Bill Gates was amazed by Warren Buffett's humility and sense of humor. Despite his success, Warren remained down-to-earth and enjoyed sharing his knowledge with others.

Q: How has reading and continuous learning impacted Bill Gates' life?

Bill Gates believes that this is an incredible time to be a learner due to the availability of videos and online courses. He constantly reads and learns about various subjects, such as weather, climate change, economics, and biology. Continuous learning has enriched his life and allowed him to make a positive impact in areas like global health.

Q: What do Warren Buffett and Bill Gates consider the most important quality in their lives?

Both Warren Buffett and Bill Gates believe that curiosity is the most important quality. They both value the ability to predict and understand what's happening in the world, and when their predictions or models are wrong, they see it as an opportunity to learn and improve.

Q: What is their opinion on vaccinations and how can future leaders in health sciences address anti-vaccine sentiments?

Warren Buffett and Bill Gates believe that vaccines are safe and essential for public health. They express concern about the spread of anti-vaccine sentiments through rumors and the impact it can have on disease control. They emphasize the need to speak out in favor of vaccines and educate the public about their importance.

Q: What are Warren Buffett and Bill Gates most hopeful about in the current political environment?

Warren Buffett is confident in America's ability to move forward and believes that the country will continue to progress despite political differences. Bill Gates is optimistic about American innovation, support for research, and the potential for breakthroughs in areas like health and energy.

Q: What are their concerns in the current political environment?

Warren Buffett and Bill Gates are concerned about the potential impact of budget priorities on important initiatives like foreign aid and health programs. They hope that the government will continue to prioritize global health and other critical areas.

Q: What book changed Warren Buffett's life?

The book that changed Warren Buffett's life was "The Intelligent Investor" by Benjamin Graham. It shaped his approach to investing and influenced his successful career.

Q: If they were starting their careers today, what industry would Warren Buffett and Bill Gates choose?

Warren Buffett would still choose investing as he believes it is his core competence and suits his temperament. Bill Gates would likely choose computer science, particularly in the areas of artificial intelligence, energy, or biology, as these fields offer exciting opportunities for innovation and impact.

Q: How did they overcome the fear of failure and take risks in their careers?

Warren Buffett and Bill Gates did not view their career choices as risky because of their passion and curiosity in their respective fields. They had confidence in their abilities and were willing to take calculated risks. They advise young people to pursue what they love and not to fear failure.

Q: How can unemployment arising from automation be addressed?

Warren Buffett and Bill Gates agree that automation and technology can create excess output but also suggest that this is an opportunity rather than a problem of shortage. The challenge lies in directing the surplus resources towards re-education, providing new skills, and ensuring that individuals affected by automation have access to new opportunities and the benefits of increased productivity.

Q: How can public education be improved, especially in economically depressed areas?

Bill Gates acknowledges the challenges in public education, such as high dropout rates and the need for better skills training. He suggests looking at successful models like charter schools that focus on creating a positive learning culture and providing teachers with feedback. Learning from countries that excel in education, even with limited resources, can also offer insights for improvement.