Buffett and Ajit Jain explain why they're staying away from hot cybersecurity insurance industry

Рет қаралды 61,252

15 күн бұрын

Berkshire Hathaway Chairman and CEO Warren Buffett presides over the 2024 Berkshire Hathaway annual meeting. Buffett and Ajit Jain, director and vice chairman-insurance operations, respond to an audience about whether Berkshire will enter the cybersecurity business. Watch the full coverage of Berkshire Hathaway annual shareholders meeting on www.cnbc.com/.
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Пікірлер: 25

@RB-eo4eq 13 күн бұрын

Ajit’s no nonsense…. Basically said we don’t need the risk as the reward is too small….

@billal-dz 12 күн бұрын

I do cybersecurity, the risk is high and can’t quantified, we can only do our best to reduce the cybersecurity risks and be prepared for threats and attacks. It’s so complicated and nothing is really secure. Public trading companies are required to to buy cyber insurance

@Teamshmo 7 күн бұрын

Very interesting points. The fact their is no end to the payouts make it beyond high risk

@rainerbuechse6923 13 күн бұрын

This is an excellent demonstration of Berkshire‘s investment philosophy. It is based on simple, logical reasoning. Other companies would produce squaremiles of Excel spreadsheets to come to the same conclusion and then still act foolishly based on greed.

@a120068020 5 күн бұрын

Well reasoned. On the client side, I, having the pain of a £500k claim for a flooding of my company (tidal surge) and knowing the hoops I had to jump through to get the payout on something that was very easy to measure and record, imagine what the insurance companies would do when considering something complex like a cybersecurity incident. No thanks, I will do best practice and keep my money for more innovation. As a friend who used to be my insurance broker told me "always protect yourself as if you were uninsured", which I try to with property, public and employee liability but in the case of cyber insurance I am uninsured.

@yinghanfu9047 13 күн бұрын

So many financial catastrophes happened because people assumed independence and normal distribution.

@user-lt5no1xt1z 13 күн бұрын

Is ajit jain from india?

@MK-fu3jp 13 күн бұрын

yes

@MRT-co1sd 13 күн бұрын

If he can talk and convince the Anglo Saxons then he is from India

@bsjddjk 13 күн бұрын

yes

@3dandelion 13 күн бұрын

yes & he’s a hell of a lot of smarter than the average person. A lot more vision too.

@LamarPassmore 14 күн бұрын

Protection sells, as long as there is fear mongering then there's money to be made. You have Iran, North Korea, Russia and China out there so the sales for security/protection is big business. Now if the defense and intelligence community decides they won't proceed with their imperialism then get rid of your stakes in the industries but until then invest heavily.

@johnbanwell6391 8 күн бұрын

Ajit is the best. He looks a bit ill, though. Obviously he's lost a lot of weight.

@eddylauterback1312 11 күн бұрын

Ajit has lost weight. Look at shirt collar.

@supernotnatural 8 күн бұрын

They have no idea how it works. They dont admit it and make excuses

@gideonk123 6 күн бұрын

If you think so, why not open an insurance company specializing in cyber security, and try to reap all the profit they supposedly left on the table?

@platoscavealum902 12 күн бұрын

🎰

@alexanderbSpeaker 13 күн бұрын

Basically the guy on the right said just something to be said

@gideonk123 6 күн бұрын

On the contrary, he spoke wise words. Listen again

@Chryeon 9 күн бұрын

Basically Berkshire prefer conventional business , old industry and the hardware side of the tech business such as Apple...next CEO will pivot to Crypto?? Maybe😂