Charlie Munger Quotes

The digital revolution has disrupted most traditional media: newspapers, magazines, books, record companies, radio.

I don't think there are too many traditional media guys who really understood what the new digital media is about.

The newspaper is dying. I'm not sure there will be newspapers and its one business I'd never be in.

The world is changing, and the Internet is about to become the next broadcast network.

If you look at the Internet, it's been hard for a lot of the traditional media companies to launch viable brands.

Newspapers for centuries enjoyed a virtual monopoly… Those days are gone. The trends are against us.

The Internet is king. Newspapers are dead or dying. Magazines are shrinking every day. Ad budgets are being cut. The bottom line is now the only line in advertising.

The Internet space will only grow exponentially, and it will affect TV for sure. How much is something that only time will tell.

To be seventy years old is like climbing the Alps. You reach a snow-crowned summit, and see behind you the deep valley stretching miles and miles away, and before you other summits higher and whiter, which you may have strength to climb, or may not. Then you sit down and meditate and wonder which it will be.

However, the agricultural revolution took thousands of years, the Industrial Revolution took hundreds, and the information revolution only took decades. So, who knows what's going to happen in the next few decades, especially with the women's revolution.

Startups are transforming our society. Over the past 100 years, we've gone from an industrial era, where a hierarchical structure dominated business and society, to a post information era where the network is rapidly disrupting the hierarchy and transforming the way we work and live.

Nobody believes a weather prediction twelve hours ahead. Now we're being asked to believe a prediction that goes out 100 years into the future? And make financial investments based on that prediction? Has everybody lost their minds?

With iPad publishing, you can try new things, experiment, and even launch new magazines without the massive risk normally associated with print publishing. The future is digital, so there will be a digital version of everything we do going forward. There has to be. The cheese has been moved.

I never try to make any far-reaching predictions, so much can happen that it simply only makes you look stupid a few years later.

With enough insider information and a million dollars, you can go broke in a year.

I don't know what I'm going to be doing in two years or even in two weeks. I have to live for today.

I grew up on network sitcoms. If those are gone when I'm 65 years old, I would never forgive myself for not stepping up to that plate, as often as possible. I'm already bummed out that DVDs are dying off because, in my 20s, those were a huge thing.

No matter how much programming improves, however, media savants tend to see the medium living out numbered days. It's feared that the Internet will do to TV what TV did to the movies in the 1950s. But instead of panicking, the networks are finding ways to co-opt the Web.

I'm a great believer in new technology and I think new technology is very scary for newspaper companies.

What does education do, what does it have to offer, when deprived of its necessary partner, the future, and face instead with - no future at all?

Once upon a time, this moment - this last light of the evening the day before the race - was the best moment of the year for me. The anticipation of the game to come. But that was when all I had to lose was my life.

If you ask what keeps me up at night, it's the pressure in the system forcing us to do all sorts of things. Content, data and technology are forcing us to think about business in a very different way.

The entrepreneurial mind-set is that risk is the heightened probability that there is a big range of possible outcomes.

The larger the corporation, the greater the risk that you are flying blind.

There's no such thing as a foreseeable future.