Warren Buffett on the risk from Tesla's self-driving tech to Berkshire's insurance businesses

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

Connect with CNBC News Online

#CNBC
#CNBCTV

[Simonpt]

Warren sounded a bit tired. Long live the king. He is a national treasure

[toadpickle]

I don’t own a Tesla but just got to try the latest FSD and it’s absolutely incredible. Under appreciated (for now) and profound technology.

[JohnMichael]

The problem we have is because Most people always taught that " you only need a good job to become rich. These billionaires are operating on a whole other playbook that many don't even know exists.

[mohican-jxfx]

Tesla stock swings too much to calmly accumulate and hold, After buying TSLA shares for just over 10 years, i'm struggling to make gains presently. How do i adjust or revamp my $2M portfolio? or should i consider some defensive investments?

[nicolelovesbiggie]

After having Geico insurance for over 10 years I finally shopped rates and switched to another stable and well known company, paying half that I was at Geico. I’m not the only one who got tired of overpaying.

[kbmblizz]

20 years ago, I followed Warren's advice, stayed away from AAPL, Steve died I missed out 😢. 5 years ago I followed my own analysis, bought TSLA. 😊

[rmtomaschitz]

Im a huge Buffett fan but i notice how his tone of voice and body language shifted to a bit of nervousness when he replied to this question. Particularly alsoAJs did

[rainkloud]

Surprised to see Buffet giving a nod to Nader. For those unaccustomed, Ralph Nader was a major factor in automobile safety regulations and many of the things we take for granted these days like seatbelts and airbags are standard fare today thanks in no small part to Nader. The auto companies fought him tooth and nail over this too to save money. Great documentary called An Unreasonable Man that details his many positive exploits.

[jordanmorris]

The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs Lucy Mary Liam.

[tcos]

These guys are upset that there won't be as many accidents lol

[DamionCollins-cryp]

I just became a huge fan. The reason why Warren Buffet is so successful is his heart. He thinks about everyone not just his own success. Love it! Learn from the greatest!

[LZentertainments]

Its a net positive. Accidents go down, lives are saved, less money is paid out.

[BradThomas]

I've had a FSD Tesla for 3 years. Tesla is getting very close (within the next 3 years I believe) with every update they release. Honestly, my only problem with it at this point is it's too cautious. If they can make it more confident, I truly believe Tesla will have achieved full self driving with cameras only. Additionally, I live in Phoenix where there are self driving Waymo taxis (no driver). Driving will be optional within the next 10 years. Whether you choose not to buy a car and only use autonomous taxies or you buy a car and it drives itself. Either way, we're closer to that reality than people think.

[deeppatel]

Cost will come down significantly lower if accidents are reduced.
The reason Tesla Insurance not available in all states because of individual states regulations requirements. It would question of when not if.

[gjsprophet]

Buffett definitely tiptoed around this question. If Tesla FSD is truly effective, similar decreased business will occur in collision repair, police ticket incomes, ambulance chasing attorneys, etc. Fewer "totaled" vehicles means fewer new auto sales, but increase in service and maintenance as cars will have an uptick in life expectancy. Fewer vehicle deaths and injuries, etc.

[nichols]

Tesla is going to insure their own car.

[dillionmooreland]

The caption for this video is very misleading. YouTube trying to scare investors out of Tesla when warrens words were actually positive about Tesla

[vasthefox]

CYBER-CAB is the new product Tesla is working on. It's a driverless taxi. Likely to cost half or less per mile than Uber. Car insurance companies will ALWAYS make profits because insurance is mandatory on public roads. Tesla will save lives more lives. Everyone wins.

[bikeman]

Warren's answer to the question on reducing crashes with autonomous driving was excellent, IMO. If it happens, then it will be a net positive for society, though not necessarily for GEICO, or any other auto insurer. Luckily for BH investors, autonomous cars are not going to happen anytime soon. Five or six years ago, auto insurers and investors were all aflutter with worries their core business was about to be hollowed out by the imminent arrival of autonomous cars, rendering third party liability insurance redundant. Well, that talk has died, with the realization of how difficult it actually is to produce L5 vehicles ( i.e. actually autonomous). Musk's furious attempts to spin his FSD product as a real thing, to support the growth valuations that Tesla enjoys, is increasingly wearing thin, with more ppl seeing through the hype. In case any Tesla fan boys/gals take offense at me calling BS on "FSD", and who may point out that Tesla has 10s of billions of miles driven, and that much more data than any other OEM, and ergo, closer to L5 than anyone else. Well, i say, if you have that many miles under your belt, and you still haven't solved the problem, you are never going to solve the problem, with that approach. GM's Super Cruise is not L5, more like L2.5, but it actually does what it says on the tin, nothing more, and nothing less. That's a real product, not magical fairy tales.

[hawtan]

FSD and Atnomus driving will cut down accidents and fatalities, ultimately reduce insurance rates and hurt insurance company business.