Charlie Munger Quotes

When someone takes their existing business and tries to transform it into something else - they fail. In technology that is often the case. Look at Kodak: it was the dominant imaging company in the world. They did fabulously during the great depression, but then wiped out the shareholders because of technological change.

We use technology to make it cheaper, better, and faster for the client. And then if you have the most flow, you can win. Now, having said that, Silicon Valley wants to take on this business. They think they see an opening.

With any advent in technology, any technological innovation, there is the good and the bad.

You've got to remember there's intense competition between Microsoft and Amazon.

Historically, industrial revolutions haven't been kind to poor people. Despite the potential benefits technology can offer, the immediate impact on the lowest-paid members of society has often been negative.

In a competitive industry, only paranoid incumbents - those constantly striving for betterment - have any hope of surviving.

Unless you stay focused on innovation, you can be disintermediated.

As a technologist, I see how AI and the fourth industrial revolution will impact every aspect of people's lives.

You realize that if you're in the media business, technology is fundamentally what's driving the change in that business.

I don't think so-called high technology matters in death. I think they had high technology before Noah's Ark. And it got lost because that was the first Ice Age.

We can trust technology to effect change - that's a given.

If Dell's going to be a fast follower, then we'll continue to innovate.

Am I nostalgic for film? … I mean, it’s had a good run, hasn’t it? You know, I’m not nostalgic for a technology. I’m nostalgic for the kind of films that used to be made that aren’t being made now.

You can go overboard in how quickly you might expect new technologies to transform people's lives. But I very much believe the way software is used, the way information gets distributed, will be dramatically different within 10 years. There is fire to go with all this smoke.

Technology always has unforeseen consequences, and it is not always clear, at the beginning, who or what will win, and who or what will lose.

Spelling is a way to make words safe, at least for now, until another technology appears to soften attacks launched from the mouth.

If we'd had government on [today's] scale in the 1840s, the stagecoaches would have hired lobbyists to get a bill passed that railroads could not travel faster than a horse because it would be an unfair competitive advantage.

The digital revolution is almost as disruptive to the traditional media business as electricity was to the candle business.

When a technology, regardless of how different and difficult it is, sustains the trajectory of performance improvement, my research asserts that the leaders in the prior generation of technology are likely to end up on top of their industry at the end of the transition.

I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.

We're witnessing the end of a 5,000 year reign of patriarchy, and are coming into a society created by our technology that will be more balanced and more feminine. It's already happening. And I think that the good news is that it's coming just in time.

Technology giveth and technology taketh away.

In three years, every product my company makes will be obsolete. The only question is whether we will make them obsolete or somebody else will.

If you've got a good enough business, if you have a monopoly newspaper, if you have a network television station - I'm talking of the past - you know, your idiot nephew could run it. And if you've got a really good business, it doesn't make any difference.

It is always the psychic and social grounds, brought into play by each medium or technology, that readjust the balance of the hemispheres and of human sensibilities into equilibrium with those grounds.