@@ujjwaltripathi1178 yep, diversity has never been the strength of any community. Homogenous societies function better because there are no issues with tribal or cultural differences and these things do create tensions and delays etc. I'm not against diverse people of any race BUT it's a total lie to pretend that diversity leads to high productivity or good performance.
When university screen and select students for medical schools, only the best candidates with the potential and intelligence should be accepted, not because of the diversity.
if you can pay for the best. Lots of Americans are homeless because of the bill. The reason is that Americans hate to take care of everyone. Do you know how many people have died and will die because of the shit system you have? I suggest you watch a soul to soul video about healthcare in the US.
I have a small company and my hiring policy is very simple. I hire the very best people for the work they will be doing - PERIOD. Part of being the "best people" is that they have to be totally honest, genuine, smart, want to get ahead, work well with my other people, etc. Nothing else maters. I'm not in the diversity business.
That's how it was conceived when the equal employment opportunity and Fair Employment laws were considered and passed when I first started my career 50+ years ago. Good on Warren!
Fully with you. I always acted the same hiring or participating in hiring. Ended pretty divers despite the diversity aspect playing no role. And yes, always get the best, and being better than oneself.
It's funny seeing these companies say "Diversity is our strength." but simply having people of different colors and orientations doesn't help a company. Especially when every company that says this actively prevents diversity of thought. Anyone with a different idea or opinion is outright banished from the company. The reality is it's actually diversity of thought that matters, not collecting all the skin colors.
Right off the bat; anytime; a poster claims; I am.... Soldier, PHD holder, ect. I will bet is lying! All that crap is for is to establish credibility. What liar from page one doesn't use that?/ Example; "I am a stable genius!" 😊
As a woman, me and my co-workers feel the same way. Does anyone really think this guy wouldn't hire a hockey puck if he believed it would make him richer? No one truly deserving is being discriminated against due to race or gender.
I am old enough to remember when making choices strictly based on race or skin color was called "racism". But, I guess we've changed that to "diversity", in an attempt to make it ok.
So I guess you were born yesterday then. You know when you add language like "strictly based" you succeed at making it sound worse, (so kudos), but you also make it untrue. You think they are just hiring any ol' brown person off the street? This discussion is so asinine. DEI isn't about increasing diversity, its the opposite you reactionary knuckleheads. The quotas are so they don't have to give two s*%&# about race. News flash, they really don't. But hey, don't let me ruin your imaginary fun where the wokeys are taking over and people like Warren Buffett *weren't* in charge the whole time. lol
Not labelling anyone with race or gender and seeing them for the quality candidate they are is the best form of diversity. Discrimination should stop - Positive or negative.
@@farzana6676 All forms of monotheism(Islam, Christianity or Judaism) have proven time and time again to be too barbaric to be allowed in a civilized world
I liked Charlie's answer better. When it's crunch time, you don't care about anything else, you just care that you have the best at what needs to be done whether it's surgery or directing the board.
@@marcosffontes There is a caveat though. And that is we should offer the same educational opportunities to become the best to everyone and leave it to the individual to pursue that ambition.
@@Paul-vf2wl yep. Thus I felt the need to add the caveat. If we don't give the same opportunities to everybody, then in the long run we are wasting potential talent compared to the countries that do.
@@zebbediah2719great perspective. So, artificially elevating people over others who are more qualified makes someone a fascist? Wow. Please give me an example of ANY society or system that thrived when equality of outcome was guaranteed….
This is why we the men call some of the most beautiful girls who are mostly eye candy a "bimbo" who have no intelligence just hotness or sexiness to give herself value of any kind. This is just and just an example to prove that it happens. It is not good that it happens but it happens. If I'm selecting someone for modelling I give 0 shit what PHD or masters u have. I care about your physiq and beauty same way If I'm selecting someone for managerial role I want to know what his/her degree is and experience and personal interview. IRREGARDLESS of gender or skin color. Cause this is what some shit company and FAILING business do I personally won't. Top person should get the role or job for which they are hired. That's it
This is probably a Birkshire Hathaway share holder meeting, so the question is controlled too. Got to explain why they will do so well. Hopefully it would influence all of companies.
I am APPALLED just APPALLED at the level of racism in the NBA. I don't see Hindus, or Native Americans, nor ethnic Muslims. Most players are of ONE race.
Actually, the NBA has become more diverse due to policy changes that made it easier for players to skip college and foreign players to join the NBA. The increased openness and search for different kinds of players has made the NBA better, especially the San Antonio Spurs.
I work for a large corporation that did the diversity thing putting people in top positions based on gender or nationality. Since we started this push our market share has went from 50 percent down to 10 percent. On the other hand I'm more likely to get a hug from my manager now but we are far less competitive.
This diversity nonsense has GOTTA GO!! EVERY ONE of us is an individual. We don't "represent" a group. We should be judged by the strength of our character not by the color of our skin or gender or gender preference
America never has been, nor will it ever be a meritocracy. Mediocrity is not as pervasive anywhere else in society as among its so called upper echelon. (for reference, see the "usual suspects" responsible for previous economic collapses and the present one)
We are both individuals and part of a group/tribe, but we can represent people outside of our particular group/tribe because of what we have in common as human beings.
@ethanelston4314 maybe you should be asking the question why the "other color faces" can't run a business that anybody cares about? we aren't talking about the wig shop down the block that keeps getting robbed.
That’s why he is a winner, the companies that fail is because they are busy focussing on hiring people based on who they are and not what they are capable of.
On million percent! You are exactly right! Have an old professor who is in the “ESG Consulting Business” It is absolutely 100 percent a grift. The DEI component adds some teeth to their tactics and makes people more likely to bend the knee.
@@genxx2724 This would include those that have bias , adhere to the good old boy system and think political moves are way to work themselves up the ladder
@@Reload77725 lol, indeed it has come to this - but why are people not concerned with the obvious racial bias in favor of blacks in most pro sports. Surely black privilege is the only explanation for the fact that blacks, who represent only about 10% of the population, comprise almost 80% of the players in the NBA and the NFL. Why is there so little diversity? Why are there so few Asians in pro sports? Hockey is the only major sport where there is obvious racism against blacks, probably because hockey is so Canadian.
As a latin american and a minority ethnic group who lived many years in Canada: I do not wish to be hired on a diversity checkbox, and never have. Actually, I had great opportunities at a bank, and I didn´t stay because I coudn´t pass an exam... which only pushes me to study more and get better. Not because of my skin color. Congratulations to Mr. Buffet, forever our inspiration.
You would never have been given a job in a bank to start without a social push for hiring a diverse workforce. You think your grandparents would be offered a job in a bank other than as a janitor. You lie in a fantasy. 😇
Mr. Munger seemed to understand the question, but I'm not sure if Mr. Buffett did, or if he just wanted to avoid answering it, because he certainly did. In any event, let's say you have 2 candidates with Ph.D.'s in Economics from Stanford - an identical educational qualifier... only the first candidate also got their BS and MS from Stanford, and the second got their BS from Harvard and their MS from MIT. Well, then a lot of people would be inclined to say that the first candidate's educational background is less desirable for being so provincial, and the second's is more desirable for being more diverse. In a similar way, one can reasonably look at a board and say that qualifications being otherwise equivalent, a board that is too homogenous is weaker. This is a far cry from taking someone unqualified just to have token diversity - it's not some "all or nothing" thing.
@@k.k.9011 You may be right about the history of groups but not about individuals. And if late 19th century Progressivism had not ended American individualism, there would be much more respect for individuals now. Collectivism is poison to mans life.
@@MarcillaSmith people should be judged by their character & merit, not the colour of their skin & their sexual proclivities. Prioritising promotion on diversity is quite plainly racist & sexist.
Last week HR sent me a letter asking me my sexual orientation because they want to monitor if the correct numbers of different orientations are promoted. When asked they assured us that they were only monitoring how fair we were but they also stated that they have to monitor the situation to meet their targets for certain orientations. I work in a business where safety is a major concern. Think about that, safety critical parts signed off on the basis of what you do in the bedroom.
Penn & Teller team. Each knows their part. Looks like they are doing alright. Bottom line of any business is making money, or they don’t stay in business.
WoW, It is so refreshing to hear a businessman tells it the way it is without fear of repercussions. That's the way it's always been. The pendelum has swung far enough. I hope that we're on our way back.
He's a billionaire. And in his 90's. Warren Buffett, has no reason to fear much of anything except for maybe the fear of death which most people probably have to a certain extent.
I agree. The black unemployment rate has closed to only 2 times that of whites. Historically it's been about 2 1⁄2 times higher. Please check the facts if you do not believe me. However, I agree with you, this has gone way too far. If this continues blacks will have an unemployment rate that's only be 50% more than whites. That would be way too much progress. And before your dumb ass say black unemployment is the result of them not wanting to work, please understand unemployment rates are only based on those who are actively seeking employment. As you must understand by now, you are dumb🤗
As a non-westerner, I had found that the Western system, despite all its flaws, was a meritocracy. Took while to get past the discriminations but on balance got it right eventually. In the last 5 years, I feel that that Western system is becoming a tool for mediocracy. For goodness sake, appoint people with the right qualification and not for virtue signalling.
Great to hear the round of applause at the end of Buffett's remarks. People are heartily sick of the DEI agenda, although they're often too afraid to say so in public.
I've had to deal with places where everyone comes from the same background, same education, same school and it was terrible to try and put a new concept to them. The company that I was working for had people with different backgrounds, different educations, and from different schools, and where the best people to learn from, work with, and co-operate with. But from the classical diversity standard, we were not diverse. .
The cost of discrimination is that you end up dismissing out of hand talented exceptional people for no good reason. Diversity in and itself offer no advantage so prioritizing it and elevating losers into position they don't deserve only undermines the organization.
Why do you consider the applicants who are diversified hiring losers ? A great deal of qualified applicants don't get the opportunity because of their skin color, they're not males, or they speak a different language. I worked in the entertainment industry for over 30 years and diversity can add to success. People from different backgrounds can add different dimension to the company and income from areas the company didn't consider previously. 🤔
@@kurtwoodley9877 The point was you should never discriminate, but you should also never deliberately hire on the basis of diversity for the sake of diversity. If you do, you end up not hiring the best person for the job.
@@kurtwoodley9877if hired on their merit and competence, yes. If hired because of melanin and facial features , no. Melanin is sun protection and features are due to geographic adaptation.
There's a difference between hiring someone based on competence irrespective of which group they're in, and making an effort to ensure that anyone that is interested and competent is not for any reason being excluded from participating, and just hiring to fill a quota. The first is a social responsibility, the latter is a lazy box ticking exercise for PR purposes.
What isn't included in your response, Buffett's, or anyone else's in this comment section is the effect of personal bias in hiring decisions. Passing over more qualified individuals because of racial biases happens everyday. People like to say qualifications and competence are all that matter, but then will go and pass over highly qualified people of color because of racial biases. That's one reason among many others that organizational diversity is important, and lacking it shows a lack of modern competence.
Worked at a company where ‘merit’ was overridden by ‘diversity’ criteria, just to check those boxes. Even for a couple of new roles, the HR dictated by allowing to hire from a selected pool of candidates.
Everyone does that actually. Diversity starts being a problem when they being put under a microscope or some politician wants to steer some trouble using the race card. Nobody really started caring about diversity, it exists as a talking point and no more. You'll see companies who want to boost public approval by doing a diversity campaign since people love that thing or they started doing it coz people noticed the lack of diversity for some reason. Buffet didn't really know how to answer it coz he never really cared for it since it's someone elses job like do you expect THEE Warren Buffet have an opinion about his staff? He just wants the best and he said it himself coz that's how he got where he is and only the best can even approach his inner circle so it was never a problem ever for him.
*Yeah, can't have someone of non-European descent running his company. Nosireebob. Not on Buffet's watch.* That would just prove that people who are not pale and don't hale from the Anglo-Saxon clans can do just as good a job. You know, like they have at soldiering and operating machinery and music and art and athleticism and just about everything. This will be the penultimate field of interest non-Europeans will become prolific. (The last field being "mass shooters." Once a non-European descendant gets into the long gunman game it's going to be a 99.9% kill rate.)
These wise men speaks wisdom that is successful. Hearing them preach common sense in a modern society blinded by ridiculous ideology restores you faith in humanity
Thank you Mr Warren! Finally, someone influential and rich tell it like it is. People should be hired based on their skills, not because some wokes quota.
What you and Warren are advocating simply doesn’t exist. Meritocracy is a fantasy and US corporations have a long history of discriminatory hiring practices.
I really wish we could get a weekly “Warren and Charlie” podcast. Two of the only old rich guys I like. Other than that one guy I worked for who let me borrow his Rolls for a date! Thanks Mr. Brooks! You’re the man!
Are we missing investment opportunities as a result of not considering diversity? No, we're missing investment catastrophes, and that's why we don't do it.
@@charlesg7926 You’re admitting that meritocracy doesn’t exist by your racist statements that you’re too cowardly to say in plain English. Meritocracy is a fantasy. It’s hardly ever relied upon in recruiting and hiring practices.
Stop Playing the game. It’s tough. I know. I left a high paying job as an Engineer at a large automotive company because of this. A whole department of Engineers were unhappy with the diversity, inclusion and equity initiatives. When we all had a meeting with the plant manager only 2 of 20 spoke up. Him and I both left. Principle vs pay check is what I call it. I learned a lot about my fellow man. When it comes to money his principles and morals go out the window.
Good reply but it's probably more in the tenor of something Charlie might say. Neither however would make such a statement unless they had knowledge of the reference. It isn't a factor they would have likely cared enough to learn.
The question was so naive. How would having a diverse workforce improve their identification of good employees for their business? I used to work for a petrochemical company. The only things our customers cared about was whether we could provide them with a reliable source of on-spec product at a good price. Having a diverse workforce added nothing to those goals. Only having smart, dedicated, motivated employees did.
Mr. Warren is extremely smart. he knows a direct answer would create a snowflake backlash and could financially affect Berkshire; so he beat around the bush on purpose. a similar video I can recommend is Nadal answering a similar question in tennis.
Firstly, I agree with diversity for diversity sake should not be part of any company's hiring process. Here is an anecdotal fact: I was the African American out of 300 CRE lenders for a top commercial bank. I was consistently a top 5 producer for 5 years straight. The only reason I was hired was because when they hired my boss from a mortgage REIT he insisted on bringing me with him. The head of CRE lending lamented during a conference speech that the circumstances of how I was hired PROVED the bank needed a better way to "find" talented people of color for top positions. I don't think DEI or quotas are the answer but we have to make certain the doors to opportunities are open to everyone not just those with the "right" connections (clubs, churches, kids private schools, etc.).
Interesting story. When I hear about the experiences of real people, with all the nuances, I gain a deeper understanding of the issues at hand. Thanks 4 sharing.
"the bank needed a better way to "find" talented people." there, fixed. practices to find the best talent do need to improve. broaden their horizons as it were. but color did not take you to where your talents took you.
EDI’s goals don’t seem to line up with the reality of the situation for normal people. The problem is that the EDI folks are all ivory tower academics who have never actually worked a job outside of academics. How could they ever hope to understand the problems of a workforce they’ve never been a part of? Let alone solve those problems. I ultimately agree with everything you said, the opportunities have to be available to the most qualified candidates regardless of color or creed, and a lot of archaic hiring practices do not achieve that aim.
First off, congrats for excelling in the role. Well done. I totally agree with your comment. In my previous job I worked with some extremely talented people of color, but I also worked for a company that often sidelines meritocracy in favor of DEI guidelines. Unfortunately, this practice has produced some POC hires that noticeably lack the necessary skill and talent for the position. My POC teammates that were top-tier talent hated this practice as they felt there were being tainted through association with the DEI hires. Best of luck to you
Absolutely correct. If you try to have a diverse board, the company will fail. If you try to have a great board, the company might succeed. It's money, you hire for the best skill. That is the ONLY way that works.
Not necessarily True. I've been in the entertainment business for over 30 yrs. Devirsity is primary for success. Besides producing a great product We have to understand DIVERSIFIED markets. Not everyone will understand other people's cultures, taste, purchasing habits ??? 🙂👍
@@kurtwoodley9877Lies 🤥. Quality matters more. That’s why a lot of these new diverse tv shows and movies are failing. Because hiring based on diversity produces crap. Crap that people don’t want to buy.
@@kurtwoodley9877 I agree - diversity adds value due to the unique perspectives brought - but you do have to ensure the team members also meet your needs/requirements. I set it as a balance - and I also know I have bias. So considering diversity is a way to at least check my bias as part of a hiring decision or who to put on what teams. If you have international customers - it is much easier to participant if you have employees on your team with a global perspective. You can build the job requirements to cover that and call it experience (not diversity).....so some of this what you prefer to call it. If you mess up the diversity side bad enough it will hurt your business. Unless you are making sheets for the local KKK - then you don't need to be diverse.
I'm in a country where merit is determined based on your birth that is "caste". If the word "Buffet" is based on "Buffalo Herder", what chance Warren Buffet will have in India to succeed? 🙏
...and rightfully so. Competency is all that should ever matter. You can make the legitimate argument, that it is even unethical to hire someone just based on some weird calculation/quota that later leads to devastating consequences of the firm because quota was rated higher than competency....
I'm in a country where merit is determined based on your birth that is "caste". If the word "Buffet" is based on "Buffalo Herder", what chance Warren Buffet will have in India to succeed? 🙏
@Lone Wanderer N7 no it wouldn't, don't u understand that's its more than exams. If someone came from the bronx in a terrible school that's far more of an achievement than someone who went to a top school and achieved the same grades. That deserves consideration in an application. I've seen it here in the UK when I went for an interview at Cambridge, its a big club, and if ur not well spoken its damn hard to get in.
Employers should hire the best candidates and employees should seek out the best jobs. In this way, both employers and employees are held accountable and motivated to be the best. In turn, that will benefit the consumers. It's a beautiful thing to those willing to participate but unbearable for those who don't want to take on the responsibility.
@@T.R.R.Jolkien SOLID8 CEO MICHAEL LOFTHOUSE RESIGNS AFTER VIDEO CAPTURES RACIST RANT IN CARMEL VALLEY RESTAURANT, REPORT SAYS CrossFit CEO Steps Down After His Racial Remarks Led Reebok, Others To Cut Ties Allegations of racism and misogyny within the Phoenix Suns: Inside Robert Sarver's 17-year tenure as owner How many examples would you like?
He's immune from cancellation, as it were, due to his gravitas and special stature. Not sure many other CEOs and COOs could get away with saying that without strong blowback, however.
You can't cancel him; he owns the entire place. He could get away with extreme deviation from PC norms and nobody could do anything about it except to try to boycott (good luck)
@Lash LaRue it's also his age that plays a part I think. People will let it slide more easily by dismissing him as a dinosaur. If he was 40 or even 50 years old they would be biting harder.
wow, so refreshing! :) Here are two men who couldn't give a stuff what other people think. They are self-made and exude confidence because they have a working formula, know why it works and so are stable throughout the decades as various silly fads come and go.
What people forget is diversity is not just gender and race or even culture. The diversity a company needs is in the skills and experience that in aggregate can accomplish our goals. Also employees that have been in enough diverse situations in projects whereas they are ready for anything. Or having experience in dealing with many companies from different countries is a diversity they look for too. At least where I worked, this is the diversity they expected you to explain when they asked it in an interview. But most people just screwed up and talked about race and gender
Warren and Charlie. My two favorite Statler and Waldorf impersonators! I'd love to have an hour or two 'sit down' with them, and just ask a bunch of random (and off the wall) questions.
I take it you didn't know your grandparents or great grandparents. My grandfather is older than both of these guys and schooled me on life way better than my parents did.
Often it is the corporations that check the boxes and focus on Diverisity, Inclusion, and Equity that set themselves up for failure. Instead of focusing on their core business success (mind your business) and hire based on merit and competence, the DEI focused companies focus on hiring to cjeck the boxes and end up making poor lomng term decisions which result in long term decline and potentail for failure. Intel, Hewlett Packard, Pitney Bowes touted themselves as leaders in DEI and ended up with declining market share and market valuation.
since when is the market stagnant. it goes up and down. you choose to make your point with a fluid answer? choosing to be DEI conscious doesnt make a business less profitable. the answer is in your comment but you hate diversity so much that you cant even see that you said "...making poor long term decisions..." the human intellect isn't in one race. but the control of knowledge can be. Keep knowledge amongst the community so that particular community can thrive over all. Capitalism is competition, individuals of a society working towards a profit.
It’s illegal to hire based on race and gender, they are protected classes, it boggles my mind that it’s so open and common to do so I really don’t get how that flies without legal challenge
It's because Affirmative Action creates implicit quotes and thus the people who audit for AA compliance are looking for "diversity". When whites and men do throw discrimination lawsuits around, they tend to win, but it has to come from the individual (who has the burden of proof of actually showing evidence of said discrimination, which can be challenging since everyone's skillset and experience is different) rather than the AA auditors.
Charlie's silent laugh at the end is epic. I'm in agreement with others stating that I would love to see a podcast with Warren and Charlie where they tackle why common sense isn't as common as it used to be.
They will never have that. We have a president who specifically hired the VP based on her skin and gender (his words, not mine). How’s that working out? No one on the left even cared about who she was, they just cared about what she looked like.
I hope people can pay close attention to such information so they can strategically spend their money. We need to become much more responsible as business leaders about our communities or society.
I guess you've never been to Mississippi or Alabama in your life. You should hear what they were teaching their kids in the '40s '50s '50s '60s '70s '80s '90s. I'll stop there I haven't been there since
Forcing diversity and inclusion quotas is like bad apples demanding to be allowed back on the tree. Merit based employment regardless of race or gender should result in higher quality results.
If you look at their risk management practices, or lack thereof, you’ll find that it had a lot more to do with their bankruptcy than their approach to diversity. Although I agree that DEI is often a needless distraction (even if it started with good intentions).
They ended up with a diverse group of dumbasses who didn’t know shit about running a bank. But they were well versed in leftist propaganda talking points.
Anyone who can look me dead in the face and say "It's better to hire someone less qualified but who adds diversity than to hire someone who is objectively more qualified but doesn't add diversity" loses all of my respect. What did Morgan Freeman say about race? It will go away when we stop talking about it? Hire the most qualified candidate. Race, religion, or sexual preference be damned.
Common sense is to pick the best people for the job at hand. At most companies pay lip service, but in the end in a competitive market your future is determined by your team. Ones sees more diversity now than when I entered the workspace because we have a more diverse population and more diverse talent pool. The media, both left and right have made this into a much bigger issue than it is.
That’s common sense, a meritocracy, but it is not where we’re headed. I don’t know why diversity of skin color is so necessary. It puts every race into a box and eventually will pit them against each other. We’re seeing that now. Diversity isn’t “our strength” as liberals would have you believe. China is homogenous and is kicking our asses.
Large companies these days are too concerned about image and perception. They'll hire token individuals, put them into positions they're simply not prepared for and then disaster will eventually strike. My sister is dealing with such a scenario just now. She left the job she was in to go somewhere else - they brought someone in behind her, who its clear she was picked because it was an opportunity to tick a box. She has no proper experience in the role and responsibility that has now been put on her shoulders. The company have asked my sister to come back on a 'consultancy' basis, one day a week (Fridays) to assist with the work that needs doing. My sister says this other woman is a lovely person, and she feels sorry for her for the position she is now in - she just isn't ready for the work she has to do - the experience and knowledge she needs commensurate with the role just isn't there, and you can't magic that out of thin air quickly!
Business does that everytime. Maybe she was the problem. I have never seen you actually dominate anything except what was given behind close doors in meetings.
Having a diverse opportunity and a diverse requirement are completely 2 separate things. The requirement for being hired should be based on skill and passion for the work you wish to do. You get experience as you learn continually, intentionally.
There's a direct inverse relationship between how much a company talks about diversity and inclusion and how inclusive they ACTUALLY are. The companies that actually practice it in a meaningful way are too busy DOING IT to constantly talk about it and their happy employees are the only advertisement they need. When a company is accommodating of my disability, I will not shut up about what an awesome company it is.
So if you are not full of shit then Warren's anti diversity comments must mean that Berkshire Hathaway is very diverse. You must understand by now that you make no damn sense right ?😂😂😂
"I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin, but by the content of their character."
Here's some other MLK jr quotes MLK jr "Whenever the issue of compensatory treatment for the Negro is raised, some of our friends recoil in horror. The Negro should be granted equality, they agree; but he should ask nothing more. On the surface, this appears reasonable, but it is not realistic." MLK jr "A society that has done something special against the Negro for hundreds of years must now do something special for the Negro." Playboy Magazine's Alex Haley "Do you feel it's fair to request a multibillion-dollar program of preferential treatment for the Negro, or for any other minority group?" MLK Jr "I do indeed"
@@AaaaAaaa-jr4lw check Thomas Sowell (black economist) on the rapid decline of African Americans when government handouts began in the 1960s. It didn't work.
If you really want to hire the best talent at any company, let resumes be shown to hiring managers without names or schools, and let interviews be done blind (without the candidate being seen) and with voice changers. Then, and only then, can we know if there are no biases in hiring.
Only exception to the school thing I can see is fresh out of college hires. Then school kind of matters. I say kind of, because a good portfolio of work is best, but absent that I can see using school as a proxy.
Not really. It's very easy to lie to someone if they can't see your face. Body language is key when making tough decisions. Hiring a key employee is probably the most important decision one can make, short of marriage. Would you choose your spouse based solely upon written information and what you hear them say through a voice changer?
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments..
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This is exactly how companies should be run. Hire the best candidate for the job.
Plain and simple
Yes! And allow me to do my job really well and go home to my true life. We all don’t have to be “cheerleaders” for a corporation with low self esteem.
that's not politically correctly, so they won't do that.
Then don't cry why top 1% are wealthy
@misc1547 yes they have accumulated all the wealth with them.
Only inferior people want DEI. Do you know why?
Hiring people due to their qualifications is the greatest expression of appreciation for diversity that any corporate executive could make.
The problem in that is whites tend to hire other whites because they make them comfortable.
Appreciation for diversity? That’s not diversity.. then again, there is no good use of diversity very often.
And should be the ONLY criteria really, with limited exceptions.
@@ujjwaltripathi1178 yep, diversity has never been the strength of any community. Homogenous societies function better because there are no issues with tribal or cultural differences and these things do create tensions and delays etc. I'm not against diverse people of any race BUT it's a total lie to pretend that diversity leads to high productivity or good performance.
In a perfect world, yes. Unfortunately, meritocracy doesn’t exist and will never exist in the future.
“When I have a surgery I don’t want the best doctors, I want the most diverse doctors”
said no one ever.
Exactly !
WITCH DOCTOR WAS THAT ?
When university screen and select students for medical schools, only the best candidates with the potential and intelligence should be accepted, not because of the diversity.
if you can pay for the best. Lots of Americans are homeless because of the bill. The reason is that Americans hate to take care of everyone. Do you know how many people have died and will die because of the shit system you have? I suggest you watch a soul to soul video about healthcare in the US.
@@abhishekrai2373I went the best doctor for the task.
I have a small company and my hiring policy is very simple. I hire the very best people for the work they will be doing - PERIOD. Part of being the "best people" is that they have to be totally honest, genuine, smart, want to get ahead, work well with my other people, etc. Nothing else maters. I'm not in the diversity business.
Amen
That's how it was conceived when the equal employment opportunity and Fair Employment laws were considered and passed when I first started my career 50+ years ago. Good on Warren!
yeah, so thos3 you PERCEIVE to have those values is who you pick. You know, people like yourself, right?
Amen. Moral, ethical and respectful…in other words, employees with good character.
Fully with you. I always acted the same hiring or participating in hiring. Ended pretty divers despite the diversity aspect playing no role. And yes, always get the best, and being better than oneself.
"It's good to learn from your mistakes. It's better to learn from other people's mistakes." - Warren Buffett
Bismarck a century prior
@@Youcanatme and I think Bismarck cited someone else who lived before him 😂
(I just don't remember who told it earlier)
@@user-qj5sc5oy7f yeah I am convinced of it.
😎
Chanakya 2000 years before @@Youcanatme
It's funny seeing these companies say "Diversity is our strength." but simply having people of different colors and orientations doesn't help a company. Especially when every company that says this actively prevents diversity of thought. Anyone with a different idea or opinion is outright banished from the company. The reality is it's actually diversity of thought that matters, not collecting all the skin colors.
Diversity is the new racism..it’s just another group this time who practices it.
Brilliant 👍
Dark skin people are backward
Step 1. Hire a diverse workforce
Step 2. ???
Step 3. Profit
Gotta catch em all
As a person of colour I'm also sick of this "diversity" thing, When I'm at work I do not represent anyone, this has got to stop.
maybe start with not referring to yourself as "person of colour". What are the others transparent colour? lol
You my friend are the winner of today!
I truly understand and feel the substance of your post.
Bravo and keep fighting the good fight!
Right off the bat; anytime; a poster claims; I am.... Soldier, PHD holder, ect. I will bet is lying! All that crap is for is to establish credibility. What liar from page one doesn't use that?/ Example; "I am a stable genius!" 😊
As a woman, me and my co-workers feel the same way. Does anyone really think this guy wouldn't hire a hockey puck if he believed it would make him richer? No one truly deserving is being discriminated against due to race or gender.
so does the term 'person of colour'.
I am old enough to remember when making choices strictly based on race or skin color was called "racism". But, I guess we've changed that to "diversity", in an attempt to make it ok.
More like an attempt to get all those unwanted wedlock babies jobs that they don't deserve. I know, I know, it's a vicious cycle!
Yep. Diversity and representation are the more acceptable words.
The term "affirmative action" was first used in the United States in "Executive Order No. 10925", signed by President John F. Kennedy on 6 March 196.1
So I guess you were born yesterday then.
You know when you add language like "strictly based" you succeed at making it sound worse, (so kudos), but you also make it untrue.
You think they are just hiring any ol' brown person off the street?
This discussion is so asinine. DEI isn't about increasing diversity, its the opposite you reactionary knuckleheads. The quotas are so they don't have to give two s*%&# about race. News flash, they really don't. But hey, don't let me ruin your imaginary fun where the wokeys are taking over and people like Warren Buffett *weren't* in charge the whole time. lol
@@TEverettReynolds black couples was making more money that whites couples for a while ,ten years ago was said
Not labelling anyone with race or gender and seeing them for the quality candidate they are is the best form of diversity. Discrimination should stop - Positive or negative.
Radical Islam needs to stop as well.
christianity muat be eradicated as well as islam , all religions is criminal and did many wars
@@farzana6676 All forms of monotheism(Islam, Christianity or Judaism) have proven time and time again to be too barbaric to be allowed in a civilized world
I liked Charlie's answer better. When it's crunch time, you don't care about anything else, you just care that you have the best at what needs to be done whether it's surgery or directing the board.
True
@@marcosffontes There is a caveat though. And that is we should offer the same educational opportunities to become the best to everyone and leave it to the individual to pursue that ambition.
Charlie got into Harvard Law school without an undergrad degree after one of his daddy's pals made a call.
@@Paul-vf2wl yep. Thus I felt the need to add the caveat. If we don't give the same opportunities to everybody, then in the long run we are wasting potential talent compared to the countries that do.
Exactly. The last thing you want is a contractor who thinks math is racist.
This needs to be said again and again: “Some ideas are so stupid that only intellectuals believe them.” ― George Orwell
Only inferior people want DEI. Do you know why?
African disporia news, Phillip scott podcast, black star network disagree
Marcus Rashford, Meghan Markle and Oprah Winfrey disagree as well.
All intellectuals are just following Ford n Rockefeller foundation think tanks.
selfsuficiency selfproduction selforoentation and personal separate decision for each separated body !!!
Diversity doesn't produce results, performance produces results!
You said it Hitler....
@@zebbediah2719great perspective. So, artificially elevating people over others who are more qualified makes someone a fascist? Wow.
Please give me an example of ANY society or system that thrived when equality of outcome was guaranteed….
@@zebbediah2719keep that up. You're dying anyway
Hiring for diversity only makes people wanting to be more diverse. This is why everybody is a suppressed minority now.
We should recruit people who think alike like robots
It is crazy that somebody even challenge the fact that you hire based on competency and not on race or gender.
This is why we the men call some of the most beautiful girls who are mostly eye candy a "bimbo" who have no intelligence just hotness or sexiness to give herself value of any kind. This is just and just an example to prove that it happens. It is not good that it happens but it happens. If I'm selecting someone for modelling I give 0 shit what PHD or masters u have. I care about your physiq and beauty same way If I'm selecting someone for managerial role I want to know what his/her degree is and experience and personal interview. IRREGARDLESS of gender or skin color. Cause this is what some shit company and FAILING business do I personally won't. Top person should get the role or job for which they are hired. That's it
This is probably a Birkshire Hathaway share holder meeting, so the question is controlled too. Got to explain why they will do so well. Hopefully it would influence all of companies.
@@asumazilla LOL. You really believe that? Buffett made money getting people fired, not hired, but whatever.
@@amsterdamcowboy9738There's no money in firing people. How inarticulate and vague could you possibly be in one comment?
@@DrummerJacob Are you joking. There is a lot of money to be made in firing people. Bain Capital turned it into an art form.
Results of Buffet's policies are self-evident. Let's make the NBA "more diverse" and see how well that team does.
I am APPALLED just APPALLED at the level of racism in the NBA. I don't see Hindus, or Native Americans, nor ethnic Muslims. Most players are of ONE race.
Those pygmies can be pretty angry when photographed!
Yes, or the NHL.
@@stevenhenry5267 - another woke response…😂
Actually, the NBA has become more diverse due to policy changes that made it easier for players to skip college and foreign players to join the NBA. The increased openness and search for different kinds of players has made the NBA better, especially the San Antonio Spurs.
I work for a large corporation that did the diversity thing putting people in top positions based on gender or nationality. Since we started this push our market share has went from 50 percent down to 10 percent. On the other hand I'm more likely to get a hug from my manager now but we are far less competitive.
Only inferior people want DEI. Do you know why?.
You can get a hyg at home businesses are to make money not make everyone feel good. It's called professionalism and not therapy
"has went"?
@@TerryJLaRueeasiest was to identify someone who has never worked with an ESL person is that they correct clear communication.
That really sucks. I’m sorry that you work for what once was a great company now is a dead company.
This diversity nonsense has GOTTA GO!! EVERY ONE of us is an individual. We don't "represent" a group. We should be judged by the strength of our character not by the color of our skin or gender or gender preference
@Gormen Freeman Take your meds.
America never has been, nor will it ever be a meritocracy. Mediocrity is not as pervasive anywhere else in society as among its so called upper echelon. (for reference, see the "usual suspects" responsible for previous economic collapses and the present one)
100%
We are both individuals and part of a group/tribe, but we can represent people outside of our particular group/tribe because of what we have in common as human beings.
@ethanelston4314 maybe you should be asking the question why the "other color faces" can't run a business that anybody cares about? we aren't talking about the wig shop down the block that keeps getting robbed.
Man I love this guy, common sense and being reasonable are lost traits.
his companies push this stuff though
That’s why he is a winner, the companies that fail is because they are busy focussing on hiring people based on who they are and not what they are capable of.
it's whats made him a billionaire. can you imagine how broke he'd be if he hired any other way?
@@nickyalousakis3851better being woke than broke
Only inferior people want DEI. Do you know why?
I'm a black, female academia and I say DEI is job security for DEI academias and DEI consultants. Not sure who else benefits.
And Thought Police like Bias Response Teams.
DEI benefits DEI hires.
You? Lol
On million percent! You are exactly right! Have an old professor who is in the “ESG Consulting Business” It is absolutely 100 percent a grift. The DEI component adds some teeth to their tactics and makes people more likely to bend the knee.
benefits you
Hire the best and avoid losers.
Included in the group of losers is people who bring drama with them.
What a crazy idea: hire the best candidate lol
@@genxx2724 This would include those that have bias , adhere to the good old boy system and think political moves are way to work themselves up the ladder
@@bl9531 It's crazy it's actually come to this.
@@Reload77725 lol, indeed it has come to this - but why are people not concerned with the obvious racial bias in favor of blacks in most pro sports. Surely black privilege is the only explanation for the fact that blacks, who represent only about 10% of the population, comprise almost 80% of the players in the NBA and the NFL. Why is there so little diversity? Why are there so few Asians in pro sports? Hockey is the only major sport where there is obvious racism against blacks, probably because hockey is so Canadian.
He’s got a significant chunk of my money and as an investor i want him to hire the best qualified people period!
Absolutely. You want ethical people to control your investment strategies.
As a Thousandaire,
When Warren Buffet speaks,
I listen.
we dont need investor , investors should go to work and hired people to relax
Holy crap! Straight answers with no apologies. Just like it should be.
As a latin american and a minority ethnic group who lived many years in Canada: I do not wish to be hired on a diversity checkbox, and never have. Actually, I had great opportunities at a bank, and I didn´t stay because I coudn´t pass an exam... which only pushes me to study more and get better. Not because of my skin color. Congratulations to Mr. Buffet, forever our inspiration.
You would never have been given a job in a bank to start without a social push for hiring a diverse workforce. You think your grandparents would be offered a job in a bank other than as a janitor. You lie in a fantasy. 😇
We need more people like you!!
Mr. Munger seemed to understand the question, but I'm not sure if Mr. Buffett did, or if he just wanted to avoid answering it, because he certainly did.
In any event, let's say you have 2 candidates with Ph.D.'s in Economics from Stanford - an identical educational qualifier... only the first candidate also got their BS and MS from Stanford, and the second got their BS from Harvard and their MS from MIT. Well, then a lot of people would be inclined to say that the first candidate's educational background is less desirable for being so provincial, and the second's is more desirable for being more diverse.
In a similar way, one can reasonably look at a board and say that qualifications being otherwise equivalent, a board that is too homogenous is weaker. This is a far cry from taking someone unqualified just to have token diversity - it's not some "all or nothing" thing.
@@k.k.9011 You may be right about the history of groups but not about individuals. And if late 19th century Progressivism had not ended American individualism, there would be much more respect for individuals now. Collectivism is poison to mans life.
@@MarcillaSmith people should be judged by their character & merit, not the colour of their skin & their sexual proclivities. Prioritising promotion on diversity is quite plainly racist & sexist.
I’ve held Berkshire Hathaway stock for 20+ years because Buffett makes sound business decisions.
Last week HR sent me a letter asking me my sexual orientation because they want to monitor if the correct numbers of different orientations are promoted. When asked they assured us that they were only monitoring how fair we were but they also stated that they have to monitor the situation to meet their targets for certain orientations.
I work in a business where safety is a major concern.
Think about that, safety critical parts signed off on the basis of what you do in the bedroom.
To begin with, it's none of their business.
"We don't do make work activities."
That really sums up the entirety of DEI practices across all of business.
Stop playing their game and just call it what it is: D.I.E.
business capitalism mean stealing from another males , the truth
It's amazing that what Warren says is so refreshing to me, a sign that common sense is not very common nowadays.
Business leaders are well aware of such common sense. What they're afraid of is cancel culture.
Never been
I want the best doctors to perform surgeries, I want the best pilots to fly a plane.
Warren took 5 minutes, Charlie took 5 seconds to say the same thing. Brilliant.
Yeah, enough with the pussy footin', walking on egg shells BS. I'm not hiring anyone based on race or any other non-qualification. Merit only.
That’s because Charlie had five minutes to think about his answer
You have to take five minutes nowadays because you have to duck and cover in his position. If your blunt your “mean” even it is the truth or a fact!
Uhh, Charlie already heard it said so why would he need to say much more on it???
Penn & Teller team. Each knows their part. Looks like they are doing alright. Bottom line of any business is making money, or they don’t stay in business.
WoW, It is so refreshing to hear a businessman tells it the way it is without fear of repercussions. That's the way it's always been. The pendelum has swung far enough. I hope that we're on our way back.
He's a billionaire. And in his 90's. Warren Buffett, has no reason to fear much of anything except for maybe the fear of death which most people probably have to a certain extent.
it stops when you guys grow a spine and start speaking up
Hear hear!
I agree. The black unemployment rate has closed to only 2 times that of whites. Historically it's been about 2 1⁄2 times higher. Please check the facts if you do not believe me. However, I agree with you, this has gone way too far. If this continues blacks will have an unemployment rate that's only be 50% more than whites. That would be way too much progress. And before your dumb ass say black unemployment is the result of them not wanting to work, please understand unemployment rates are only based on those who are actively seeking employment. As you must understand by now, you are dumb🤗
He's OG and don't give A F.
Diversity is the opposite of Meritocracy. People with the same types of skills are genetically similar to eachother.
As a non-westerner, I had found that the Western system, despite all its flaws, was a meritocracy. Took while to get past the discriminations but on balance got it right eventually. In the last 5 years, I feel that that Western system is becoming a tool for mediocracy. For goodness sake, appoint people with the right qualification and not for virtue signalling.
Great to hear the round of applause at the end of Buffett's remarks. People are heartily sick of the DEI agenda, although they're often too afraid to say so in public.
I've had to deal with places where everyone comes from the same background, same education, same school and it was terrible to try and put a new concept to them. The company that I was working for had people with different backgrounds, different educations, and from different schools, and where the best people to learn from, work with, and co-operate with. But from the classical diversity standard, we were not diverse.
.
The cost of discrimination is that you end up dismissing out of hand talented exceptional people for no good reason. Diversity in and itself offer no advantage so prioritizing it and elevating losers into position they don't deserve only undermines the organization.
Exactly. It’s a joke what’s happening today.
Spot on.
No to discrimination.
No to pushing diversity over meritocracy.
Why do you consider the applicants who are diversified hiring losers ? A great deal of qualified applicants don't get the opportunity because of their skin color, they're not males, or they speak a different language. I worked in the entertainment industry for over 30 years and diversity can add to success. People from different backgrounds can add different dimension to the company and income from areas the company didn't consider previously. 🤔
@@kurtwoodley9877 The point was you should never discriminate, but you should also never deliberately hire on the basis of diversity for the sake of diversity. If you do, you end up not hiring the best person for the job.
@@kurtwoodley9877if hired on their merit and competence, yes. If hired because of melanin and facial features , no. Melanin is sun protection and features are due to geographic adaptation.
There's a difference between hiring someone based on competence irrespective of which group they're in, and making an effort to ensure that anyone that is interested and competent is not for any reason being excluded from participating, and just hiring to fill a quota. The first is a social responsibility, the latter is a lazy box ticking exercise for PR purposes.
What isn't included in your response, Buffett's, or anyone else's in this comment section is the effect of personal bias in hiring decisions. Passing over more qualified individuals because of racial biases happens everyday. People like to say qualifications and competence are all that matter, but then will go and pass over highly qualified people of color because of racial biases. That's one reason among many others that organizational diversity is important, and lacking it shows a lack of modern competence.
the first exclude the second.
@@jeremyphillips3087 So, POC who make hiring decisions are never bias?
@@JeepdudeFL are they sytemically biased?
@@jeremyphillips3087 are you woke?
You hire people based on the best qualifications for the job.
Worked at a company where ‘merit’ was overridden by ‘diversity’ criteria, just to check those boxes. Even for a couple of new roles, the HR dictated by allowing to hire from a selected pool of candidates.
Companies that hire this way will go the way of the dodo...
In other words they committed racism,sexism,ageism etc
He’s right. He’s gotta do what’s best for his company. Totally understandable.
Everyone does that actually. Diversity starts being a problem when they being put under a microscope or some politician wants to steer some trouble using the race card. Nobody really started caring about diversity, it exists as a talking point and no more. You'll see companies who want to boost public approval by doing a diversity campaign since people love that thing or they started doing it coz people noticed the lack of diversity for some reason. Buffet didn't really know how to answer it coz he never really cared for it since it's someone elses job like do you expect THEE Warren Buffet have an opinion about his staff? He just wants the best and he said it himself coz that's how he got where he is and only the best can even approach his inner circle so it was never a problem ever for him.
*Yeah, can't have someone of non-European descent running his company. Nosireebob. Not on Buffet's watch.* That would just prove that people who are not pale and don't hale from the Anglo-Saxon clans can do just as good a job. You know, like they have at soldiering and operating machinery and music and art and athleticism and just about everything. This will be the penultimate field of interest non-Europeans will become prolific. (The last field being "mass shooters." Once a non-European descendant gets into the long gunman game it's going to be a 99.9% kill rate.)
These wise men speaks wisdom that is successful. Hearing them preach common sense in a modern society blinded by ridiculous ideology restores you faith in humanity
Thank you Mr Warren! Finally, someone influential and rich tell it like it is. People should be hired based on their skills, not because some wokes quota.
Yet, whites tend to hire other whites even when they are less qualified than Black people.
Even when they do people like yourself say "they just wanted to meet a quota". It is a no win for minorities with people like you.
And how would you know this is really applied. The US has deep racist descriminatory roots.
I totally agree with you Random Ami. Skills and qualifications should always be the criteria to hire people.
What you and Warren are advocating simply doesn’t exist. Meritocracy is a fantasy and US corporations have a long history of discriminatory hiring practices.
As a black man, i can't stand those forced buzz words
Charlie hit the nail on the head with that anecdote at the end.
I really wish we could get a weekly “Warren and Charlie” podcast. Two of the only old rich guys I like. Other than that one guy I worked for who let me borrow his Rolls for a date! Thanks Mr. Brooks! You’re the man!
"You're the greatest investor ever. Are you doing it wrong?"
Exactly. These nutcases seem to forget what they said just ten seconds earlier. Either that or they’re on a semi-religious quest.
Hiring for the sake of diversity should be illegal. It's nothing but discrimination against people who are more qualified for the jobs.
Are we missing investment opportunities as a result of not considering diversity? No, we're missing investment catastrophes, and that's why we don't do it.
“Diverse” people have lower eye.. cues. I can’t even say the words cuz I’ll get Z uhhhcced. But it’s true. Check stats
Companies that go Wolk, end up with lower efficiency, dumber, acting employees, less civil behavior, etc
@@charlesg7926 thats why SVB failed right? Lmao pale faces cant run a bank properly
@@charlesg7926 You’re admitting that meritocracy doesn’t exist by your racist statements that you’re too cowardly to say in plain English. Meritocracy is a fantasy. It’s hardly ever relied upon in recruiting and hiring practices.
But the companies he invest in do care about diversity so it’s a moot point
Only a very rich man can afford to speak his mind about such a subject.
The rest of us will lie because we don’t want to be crucified by the zealots 😢
Stop lying.
Stop Playing the game. It’s tough. I know. I left a high paying job as an Engineer at a large automotive company because of this. A whole department of Engineers were unhappy with the diversity, inclusion and equity initiatives. When we all had a meeting with the plant manager only 2 of 20 spoke up. Him and I both left. Principle vs pay check is what I call it. I learned a lot about my fellow man. When it comes to money his principles and morals go out the window.
Better not lie or tell a half truth. Stand up
Quit caring about what they say.
A very rich man and one who's less than a year from being 100.
Warren skirts around the answer for six minutes, then Charlie answers it perfectly using an analogy 😂
Of course, it’s cancel culture, can’t be too blunt anymore. What do you want to him to say, diversity is full of crap?
I appreciated that.
Warren should’ve asked how did diversity work out for Silicon Valley Bank?
Or Credit Suisse
Good reply but it's probably more in the tenor of something Charlie might say. Neither however would make such a statement unless they had knowledge of the reference. It isn't a factor they would have likely cared enough to learn.
ha Ha HA - 'ya!
Perfect example
@@a.gabbey5569 why credit Suisse?
The question was so naive. How would having a diverse workforce improve their identification of good employees for their business?
I used to work for a petrochemical company. The only things our customers cared about was whether we could provide them with a reliable source of on-spec product at a good price. Having a diverse workforce added nothing to those goals. Only having smart, dedicated, motivated employees did.
So all in favour for the capitalist profit makers rather than the people who would like a job but would never get one due to their 'background'? Okay.
Mr. Warren is extremely smart. he knows a direct answer would create a snowflake backlash and could financially affect Berkshire; so he beat around the bush on purpose. a similar video I can recommend is Nadal answering a similar question in tennis.
Firstly, I agree with diversity for diversity sake should not be part of any company's hiring process. Here is an anecdotal fact: I was the African American out of 300 CRE lenders for a top commercial bank. I was consistently a top 5 producer for 5 years straight. The only reason I was hired was because when they hired my boss from a mortgage REIT he insisted on bringing me with him. The head of CRE lending lamented during a conference speech that the circumstances of how I was hired PROVED the bank needed a better way to "find" talented people of color for top positions. I don't think DEI or quotas are the answer but we have to make certain the doors to opportunities are open to everyone not just those with the "right" connections (clubs, churches, kids private schools, etc.).
Interesting story. When I hear about the experiences of real people, with all the nuances, I gain a deeper understanding of the issues at hand. Thanks 4 sharing.
"the bank needed a better way to "find" talented people." there, fixed. practices to find the best talent do need to improve. broaden their horizons as it were. but color did not take you to where your talents took you.
Would be interesting to share a table with all 3 of you. Excellent points by all.
EDI’s goals don’t seem to line up with the reality of the situation for normal people. The problem is that the EDI folks are all ivory tower academics who have never actually worked a job outside of academics. How could they ever hope to understand the problems of a workforce they’ve never been a part of? Let alone solve those problems.
I ultimately agree with everything you said, the opportunities have to be available to the most qualified candidates regardless of color or creed, and a lot of archaic hiring practices do not achieve that aim.
First off, congrats for excelling in the role. Well done. I totally agree with your comment. In my previous job I worked with some extremely talented people of color, but I also worked for a company that often sidelines meritocracy in favor of DEI guidelines. Unfortunately, this practice has produced some POC hires that noticeably lack the necessary skill and talent for the position. My POC teammates that were top-tier talent hated this practice as they felt there were being tainted through association with the DEI hires. Best of luck to you
Absolutely correct. If you try to have a diverse board, the company will fail. If you try to have a great board, the company might succeed. It's money, you hire for the best skill. That is the ONLY way that works.
Not necessarily True. I've been in the entertainment business for over 30 yrs. Devirsity is primary for success. Besides producing a great product We have to understand DIVERSIFIED markets. Not everyone will understand other people's cultures, taste, purchasing habits ??? 🙂👍
@@kurtwoodley9877Lies 🤥. Quality matters more. That’s why a lot of these new diverse tv shows and movies are failing. Because hiring based on diversity produces crap. Crap that people don’t want to buy.
@@kurtwoodley9877 I agree - diversity adds value due to the unique perspectives brought - but you do have to ensure the team members also meet your needs/requirements. I set it as a balance - and I also know I have bias. So considering diversity is a way to at least check my bias as part of a hiring decision or who to put on what teams. If you have international customers - it is much easier to participant if you have employees on your team with a global perspective. You can build the job requirements to cover that and call it experience (not diversity).....so some of this what you prefer to call it. If you mess up the diversity side bad enough it will hurt your business. Unless you are making sheets for the local KKK - then you don't need to be diverse.
I'm in a country where merit is determined based on your birth that is "caste". If the word "Buffet" is based on "Buffalo Herder", what chance Warren Buffet will have in India to succeed? 🙏
Skin color can never replace talent, skill level.or experience.
...and rightfully so. Competency is all that should ever matter. You can make the legitimate argument, that it is even unethical to hire someone just based on some weird calculation/quota that later leads to devastating consequences of the firm because quota was rated higher than competency....
It's not about hiring tjtm, its about getting them a chance at an interview. That's important for social progress
I'm in a country where merit is determined based on your birth that is "caste". If the word "Buffet" is based on "Buffalo Herder", what chance Warren Buffet will have in India to succeed? 🙏
@Lone Wanderer N7 no it wouldn't, don't u understand that's its more than exams. If someone came from the bronx in a terrible school that's far more of an achievement than someone who went to a top school and achieved the same grades. That deserves consideration in an application. I've seen it here in the UK when I went for an interview at Cambridge, its a big club, and if ur not well spoken its damn hard to get in.
Employers should hire the best candidates and employees should seek out the best jobs. In this way, both employers and employees are held accountable and motivated to be the best. In turn, that will benefit the consumers. It's a beautiful thing to those willing to participate but unbearable for those who don't want to take on the responsibility.
I think that's great when the owner of the company isn't a racist.
@@Modelbehavior38 Then the employees responsibility is to not work for the racist and go elsewhere.
@@Modelbehavior38 can you point out a company that has a racist owner?
Nope we have to pretend everyone is equal. Because feelings lol
@@T.R.R.Jolkien SOLID8 CEO MICHAEL LOFTHOUSE RESIGNS AFTER VIDEO CAPTURES RACIST RANT IN CARMEL VALLEY RESTAURANT, REPORT SAYS
CrossFit CEO Steps Down After His Racial Remarks Led Reebok, Others To Cut Ties
Allegations of racism and misogyny within the Phoenix Suns: Inside Robert Sarver's 17-year tenure as owner
How many examples would you like?
If a company hired a person for diversity increasing purpose, isn't a kind of racism/discrimination🤔
He's immune from cancellation, as it were, due to his gravitas and special stature. Not sure many other CEOs and COOs could get away with saying that without strong blowback, however.
You can't cancel him; he owns the entire place. He could get away with extreme deviation from PC norms and nobody could do anything about it except to try to boycott (good luck)
@Lash LaRue it's also his age that plays a part I think. People will let it slide more easily by dismissing him as a dinosaur. If he was 40 or even 50 years old they would be biting harder.
Only liberals try to use those hateful tactics.
I’ve thought this all myself. It’s meaningless and pointless.. I’m just so glad one of the worlds most successful people said it too
Warren is 1000% right. I have seen this at my work place and the company is racing to the bottomless pit.
By focusing on talent, passion and commitment, you are not excluding anyone from meeting those qualifications.
wow, so refreshing! :) Here are two men who couldn't give a stuff what other people think. They are self-made and exude confidence because they have a working formula, know why it works and so are stable throughout the decades as various silly fads come and go.
What people forget is diversity is not just gender and race or even culture.
The diversity a company needs is in the skills and experience that in aggregate can accomplish our goals.
Also employees that have been in enough diverse situations in projects whereas they are ready for anything.
Or having experience in dealing with many companies from different countries is a diversity they look for too.
At least where I worked, this is the diversity they expected you to explain when they asked it in an interview. But most people just screwed up and talked about race and gender
Warren and Charlie. My two favorite Statler and Waldorf impersonators! I'd love to have an hour or two 'sit down' with them, and just ask a bunch of random (and off the wall) questions.
Was thinking the exact same thing just now ... decided to check comments to see who else are muppets generation in here😅
How strange it is that someone so old-school can be such a breath of fresh air.
Probably because there's something wrong with the new school.
Their generation wasn't worried about being politically correct. Just results driven. As it should be.
Yeah the old school was always good on this issue. That's why blacks were discriminated against in employment. Or did and does that never happen?😂😂😂
I take it you didn't know your grandparents or great grandparents. My grandfather is older than both of these guys and schooled me on life way better than my parents did.
it sounds strange in this deranged day and age
Often it is the corporations that check the boxes and focus on Diverisity, Inclusion, and Equity that set themselves up for failure. Instead of focusing on their core business success (mind your business) and hire based on merit and competence, the DEI focused companies focus on hiring to cjeck the boxes and end up making poor lomng term decisions which result in long term decline and potentail for failure. Intel, Hewlett Packard, Pitney Bowes touted themselves as leaders in DEI and ended up with declining market share and market valuation.
since when is the market stagnant. it goes up and down. you choose to make your point with a fluid answer? choosing to be DEI conscious doesnt make a business less profitable. the answer is in your comment but you hate diversity so much that you cant even see that you said "...making poor long term decisions..." the human intellect isn't in one race. but the control of knowledge can be. Keep knowledge amongst the community so that particular community can thrive over all. Capitalism is competition, individuals of a society working towards a profit.
Imagine that, hiring people based solely on their ability to do the job required. 👍
You mean in a discrimination free world? That would be would be great we should try this amazing experiment.🤗
Adjusting for "diversity" is admitting some groups are inferior.
Some groups ARE inferior
It’s illegal to hire based on race and gender, they are protected classes, it boggles my mind that it’s so open and common to do so I really don’t get how that flies without legal challenge
It's because Affirmative Action creates implicit quotes and thus the people who audit for AA compliance are looking for "diversity". When whites and men do throw discrimination lawsuits around, they tend to win, but it has to come from the individual (who has the burden of proof of actually showing evidence of said discrimination, which can be challenging since everyone's skillset and experience is different) rather than the AA auditors.
spoken with such honesty - thank you Warren Buffet
Charlie's silent laugh at the end is epic. I'm in agreement with others stating that I would love to see a podcast with Warren and Charlie where they tackle why common sense isn't as common as it used to be.
You don’t need a podcast for that. It’s simple. It’s not common because feelings & emotional reasoning have replaced rational thinking.
Well said. Let the Merit system work. Every disadvantage person that struggled and made it to the top is worth its weight in diamonds.
They will never have that. We have a president who specifically hired the VP based on her skin and gender (his words, not mine). How’s that working out? No one on the left even cared about who she was, they just cared about what she looked like.
I hope people can pay close attention to such information so they can strategically spend their money. We need to become much more responsible as business leaders about our communities or society.
It's so refreshing to hear somone like Warren Buffet essentially reject corporatism.
Excellence and competence are the main criteria for success of a business.
Warren is spot on!
No,he really isn't.
@@stevenhenry5267 He's spot on!!!!
Oh, we have come to the point in this country when meritocracy and competency have to be defended and justified in hiring decisions...
Warren just says what everyone knew before they went to school and stopped learning.
I guess you've never been to Mississippi or Alabama in your life. You should hear what they were teaching their kids in the '40s '50s '50s '60s '70s '80s '90s. I'll stop there I haven't been there since
Forcing diversity and inclusion quotas is like bad apples demanding to be allowed back on the tree. Merit based employment regardless of race or gender should result in higher quality results.
When I board an airplane, I feel far more confident when told the pilot is hired due to a 'diversity' policy, rather than being most qualified.
Atlas 3591
SVB had a very diverse board of directors. How'd that work out for them?
If you look at their risk management practices, or lack thereof, you’ll find that it had a lot more to do with their bankruptcy than their approach to diversity. Although I agree that DEI is often a needless distraction (even if it started with good intentions).
They ended up with a diverse group of dumbasses who didn’t know shit about running a bank. But they were well versed in leftist propaganda talking points.
@@philou9393 The head of SVB risk management was a woke radical leftist, a diversity hire- female. She posted woke nonsense all the time on twitter
Anyone who can look me dead in the face and say "It's better to hire someone less qualified but who adds diversity than to hire someone who is objectively more qualified but doesn't add diversity" loses all of my respect.
What did Morgan Freeman say about race? It will go away when we stop talking about it?
Hire the most qualified candidate. Race, religion, or sexual preference be damned.
They answered that beautifully and made sure not to go into depth and throw themselves under the bus.
Common sense is to pick the best people for the job at hand. At most companies pay lip service, but in the end in a competitive market your future is determined by your team. Ones sees more diversity now than when I entered the workspace because we have a more diverse population and more diverse talent pool. The media, both left and right have made this into a much bigger issue than it is.
That’s common sense, a meritocracy, but it is not where we’re headed. I don’t know why diversity of skin color is so necessary. It puts every race into a box and eventually will pit them against each other. We’re seeing that now. Diversity isn’t “our strength” as liberals would have you believe. China is homogenous and is kicking our asses.
A business is not a social enterprise
Preach. I once heard an HR manager claim HR was a profit center because it crosscharged departments for mandatory training classes.
Wow. You’ve gotta be a special kinda stupid to think HR turns a profit for a business.
Probably just internal billing manipulating to keep the bittom line in the black and the auditors off their backs.
HR departments are probably the worst offenders in the diversity scam - in companies that don’t have separate diversity departments, that is.
Large companies these days are too concerned about image and perception. They'll hire token individuals, put them into positions they're simply not prepared for and then disaster will eventually strike. My sister is dealing with such a scenario just now. She left the job she was in to go somewhere else - they brought someone in behind her, who its clear she was picked because it was an opportunity to tick a box. She has no proper experience in the role and responsibility that has now been put on her shoulders. The company have asked my sister to come back on a 'consultancy' basis, one day a week (Fridays) to assist with the work that needs doing. My sister says this other woman is a lovely person, and she feels sorry for her for the position she is now in - she just isn't ready for the work she has to do - the experience and knowledge she needs commensurate with the role just isn't there, and you can't magic that out of thin air quickly!
Business does that everytime. Maybe she was the problem. I have never seen you actually dominate anything except what was given behind close doors in meetings.
Having a diverse opportunity and a diverse requirement are completely 2 separate things. The requirement for being hired should be based on skill and passion for the work you wish to do. You get experience as you learn continually, intentionally.
Diversity of demographics vs Diversity of Skill. The first is not a qualification, the second is a qualification.
Perfect and ideas also
There's a direct inverse relationship between how much a company talks about diversity and inclusion and how inclusive they ACTUALLY are. The companies that actually practice it in a meaningful way are too busy DOING IT to constantly talk about it and their happy employees are the only advertisement they need. When a company is accommodating of my disability, I will not shut up about what an awesome company it is.
So if you are not full of shit then Warren's anti diversity comments must mean that Berkshire Hathaway is very diverse. You must understand by now that you make no damn sense right ?😂😂😂
by the content of their character, yup what he said. 💯
“The smallest minority on earth is the individual. Those who deny individual rights cannot claim to be defenders of minorities.” - Ayn Rand
I think Adolf would agree with Ayn.
@@trobinson14kc no he would not
@@trobinson14kc This is such a piss poor take it's laughable 😂😂😂
@@trobinson14kc LOLOL. you should probably work on your education some more.
"I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin, but by the content of their character."
Wow you know one quote from the most famous black person.
Here's some other MLK jr quotes
MLK jr "Whenever the issue of compensatory treatment for the Negro is raised, some of our friends recoil in horror. The Negro should be granted equality, they agree; but he should ask nothing more. On the surface, this appears reasonable, but it is not realistic."
MLK jr "A society that has done something special against the Negro for hundreds of years must now do something special for the Negro."
Playboy Magazine's Alex Haley "Do you feel it's fair to request a multibillion-dollar program of preferential treatment for the Negro, or for any other minority group?"
MLK Jr "I do indeed"
I have a dream that people will not be judged by the hot air exiting their face, but by the results of their actions.
@@AaaaAaaa-jr4lw check Thomas Sowell (black economist) on the rapid decline of African Americans when government handouts began in the 1960s. It didn't work.
What are you willing to give as reparations?
The fuselage maybe, but there's also a few other appendages back there which could be regarded as cumbersome on the sharpness front. 😅
If you really want to hire the best talent at any company, let resumes be shown to hiring managers without names or schools, and let interviews be done blind (without the candidate being seen) and with voice changers. Then, and only then, can we know if there are no biases in hiring.
Only exception to the school thing I can see is fresh out of college hires. Then school kind of matters. I say kind of, because a good portfolio of work is best, but absent that I can see using school as a proxy.
Not really. It's very easy to lie to someone if they can't see your face. Body language is key when making tough decisions. Hiring a key employee is probably the most important decision one can make, short of marriage. Would you choose your spouse based solely upon written information and what you hear them say through a voice changer?
Spot on!!!!!!
School matters but race not
This man leads .He knows what he wants for his business.He has other priorities than money .
Interesting how people see the use of Merit based selection in Sports is fine but not in other things in REAL life
Yes we need more Filipino and Guatemalan representation in the NBA and NFL.
😂😂😂
Someone needs to play the ball aswell.
Mr. Buffett is baffled by this stupid question.
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