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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤
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Author: BreckHutHigh ✧  😊 😞
Number: of 15061 
Subject: Things That AI Won't Change
Date: 08/19/2023 11:22 AM
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The Things AI Won't Change

"In a world facing rapid change from AI, it's the things that won't change that you want to build on and invest in.

That's the classic perspective from Jeff Bezos. He famously told The Harvard Business Review in 2007:

It helps to base your strategy on things that won't change. When I'm talking with people outside the company, there's a question that comes up very commonly: 'What's going to change in the next five to ten years?' But I very rarely get asked 'What's not going to change in the next five to ten years?' At Amazon we're always trying to figure that out, because you can really spin up flywheels around those things. All the energy you invest in them today will still be paying you dividends ten years from now. Whereas if you base your strategy first and foremost on more transitory things'who your competitors are, what kind of technologies are available, and so on'those things are going to change so rapidly that you're going to have to change your strategy very rapidly, too.

Bezos believed people would always want great retail selection, low prices, and fast delivery regardless of new technology like the Internet. The Internet was a conduit to meet those persistent demands. He was right, and people still want those same things today almost 30 years after the founding of Amazon."

https://deepwatermgmt.com/the-things-ai-wont-chang...

One looks at Berkshire's businesses and stock portfolio holdings and sees that most of BRK's investments (insurance, food, energy, real estate) are largely "things that won't change."
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