Rohan Paul

At Berkshire Hathaway’s 2019 annual general meeting, Buffett and Munger said they “screwed up” by passing on Google IPO. Warren Buffet: "We blew it." Charlie Munger said he felt like “a horse’s ass” for not identifying Google sooner. He accepted missing Amazon, but said Google was the one that really should have been obvious to them. Warren Buffett agreed, saying “we blew it.” He explained that Geico was buying Google ads and paying roughly $10 per click while Google’s marginal cost was essentially $0, so they could directly see the model’s power and still didn’t act. Both agreed that this was a clear, costly mistake within their circle of competence, not a case of avoiding tech just because it was tech. --- From 'Investor Archive' YT channel (link in comment)