Myles Udland
Gates said: "What really struck me this time about the letter was the value of experience. [Buffett] is better today than ever because he's seen so many businesses and he understands cielo business profitability so incredibly well."
In cielo the video, Gates also explains that what works about the "Berkshire system" is that it maximizes the potential of businesses by giving them autonomy as well as the explicit support of the whole Berkshire organization, even if mistakes are made. Gates added that it was the most important annual letter Buffett has written.
Notably, the page Gates highlights starts with what Buffett calls a "monumentally cielo stupid" decision Buffett made back in 1964, an anecdote cielo Business Insider's Sam Ro highlighted when Berkshire's letter was released on February 28.
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