Warren Buffett, the American billionaire and business magnate said in an interview with CNBC that he believed another pandemic was on the horizon. Furthermore, he suggested that the next one could be worse than the current COVID-19. It is their belief that although these conditions are manageable, the whole world is not prepared for large-scale prevention. In the interview, he was quoted as saying, “There will be another pandemic. We know that there is a nuclear, chemical, biological and now cyber threat. They each have serious potential…don’t think it’s something that society is fully prepared to deal with,” Buffett said.
He said that one of the main measures from the pandemic, the lockdown and the overall situation was that the world was not prepared for these large-scale emergency situations. He said that the society has a difficult time in preparing for the far-flung situations, which, according to the businessman, is bound to happen sooner or later.
Buffett expressed his views on the disproportionate impact of the pandemic and the lockdown on businesses as small businesses bear the brunt of the setback. The billionaire noted, while this was the case for small businesses, large industries were doing reasonably well and emphasized the fact that the pandemic is still not passed, adding that “the economic impact is this extremely uneven thing. Where … many hundreds of thousands or even millions of small businesses have been hurt in terrible ways, but most large companies have done very well.”
It was his opinion that the automaker was doing particularly well and that it was a “success that he had not anticipated.” He recalled that this particular industry saw a surge in profits during the pandemic, even breaking records.
With factories shut and a global shortage of semiconductors, automakers and dealers saw a tremendous boom, CNBC reported.
The world-renowned investor made it clear that even he faced financial uncertainty of his own, as no one was sure what was going to happen to his airlines BNSF Railways and NetJets in terms of demand . Despite all the uncertainties and chaos, buffett He was determined to focus on the industry and help other companies stay afloat so they didn’t have to rely on the government for assistance.
The new COVID-19 delta variant virus is moving towards becoming the most dominant strain on the planet as it has been detected in nearly 100 countries around the world.
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