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> I value the guy who runs the sriracha sauce company higher than Buffett: Value him in what sense? The sriracha guy made a terrible commercial mistake. The ca
by mbesto 4y ago
> I value the guy who runs the sriracha sauce company higher than Buffett:
Value him in what sense? The sriracha guy made a terrible commercial mistake. The capitalist in me doesn't value a person who does that and I would hesitate investing in a venture he did over, say, Warren Buffet (hypothetically speaking of course).
People "like" Warren Buffett because he's the ultimate capitalist. Also...
If you value the sriracha guy over Buffett in a "altruistic this is better for the consumer" type of way, then sure you could make that case (as the article does), but also remember that Buffett is giving away all (most) of his profits to charity. The utilitarian could argue that Buffett's value is far greater. He's gobbled up all of the profits from various industries (for example luxury goods which provide little benefit to "the little guy") and is reapportioning those profits to charities that may actually save lives (not just dress up your rice). I don't know, I'm not arguing for Buffett personally, but there's more than whats on the surface.
- shrubble 4y agoWhat was the 'terrible commercial mistake' that the sriracha guy made? If the sriracha guy is letting people keep their own money, that is decidedly utilitarian also...
- mbesto 4y ago> What was the 'terrible commercial mistake' that the sriracha guy made? "He does not bother going after restaurants and other businesses that use his sauce in their dishes and products, even though he could make millions from them in licensing fees. His company's advertising budget is nothing. He hasn't even bothered to trademark the name "sriracha."
- shrubble 4y agoNow apply it to businesses that have an open-source model...