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...The California-based lossmaking electric vehicle maker topped the monthly trading leaderboard five times in 2023, even as its shares plummeted 99 per cent....
...Waymo has deployed a live, customer-paying service, while many of the other new entrants have switched focus to niche applications such as commercial vehicles, or have been acquired....
...Electric-car maker Tesla registered expenses of about $2.4mn for its chief executive Elon Musk in 2023, with a further $500,000 spent in the first two months of this year....
...He believed traditional carmakers had lost their way on customer service....
...A meeting with Jeff Immelt led to $500mn more from General Electric....
...Munger, who died on Tuesday at age 99, was Berkshire Hathaway’s acerbic vice-chair and Buffett’s trusted business partner, instrumental in driving the man who eventually became known as the Oracle of Omaha...
...Creditors include dozens of cities across the US, as well as tech providers such as Amazon Web Services, fleet management software maker Zoba, data analytics company Palantir and Chinese scooter manufacturer...
...The Sage of Omaha, Warren Buffett, sold off some of Berkshire Hathaway’s Chevron holdings in 2023 and some analysts have soured on the stock....
...The so-called Oracle of Omaha warned Berkshire shareholders that his sprawling $905bn conglomerate had virtually “no possibility of eye-popping performance” in the years ahead....
...But that ballooned to $55.8bn after the electric-car maker hit financial performance and share price targets set out in the deal....
...The Oracle of Omaha himself has never been shy to attribute the success of Berkshire Hathaway to Munger’s wisdom and acumen....
...Our Best of Warren Buffett coverage to start: The Oracle of Omaha laid bare the challenge for his successors in his annual letter this weekend: they have little chance of matching his “eye-popping performance...
...Its PacifiCorp electric utility, which has operations in Oregon and California, paid $631mn in settlements over wildfires last year....
...Nunes, a former Republican congressman, named four equities market makers in his letter: Citadel Securities, Virtu, Jane Street and G1 Execution Services....
...Berkshire noted that in January the federal government indicated it intended to sue over unpaid costs incurred by the US Forest Service for fire suppression and emergency response related to a 2020 blaze...
...For example, US carmaker General Motors has committed to selling only electric vehicles by 2035, presenting its legal team with many challenges....
...Greater user choice may sound fine in theory, they argue, but it will challenge fundamental aspects of how services work....
...The company has sought to capitalise on the shift to electric cars by developing ultrarapid charging hubs for these types of vehicles....
...The “Oracle of Omaha”, whose sprawling railroad-to-confectioner conglomerate is now worth $780bn, has enticed investors despite a quarter that revealed the negative effects of the cooling US economy on some...
...“[In] financial services, the record is particularly poor, as scaling typically requires hiring a lot of people, which erodes culture and can lead to excess risk taking,” he told analysts....
...If these services prove as popular as hoped, a range of second-tier companies could also grow rapidly....
...Tucked in Brooklyn’s edgy East Williamsburg neighbourhood there is now a Rivian service centre. Across town, the electric-truck maker has opened a high-end showroom in New York’s Meatpacking District....
...But just as Apple expanded from hardware to a services business that makes up more than a quarter of sales, Tesla sees a future in which it sells services to third parties....
...In 2017, an earlier campaign drove the company to cut the size of its electric-generating fleet and refine its focus on selling retail electricity in competitive power markets....
...In China — the world’s biggest car market — BYD and Tesla soak up 43 per cent of electric vehicle sales. “Tesla need not worry too much,” said Dunne....
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