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Why Warren Buffett Tried to Work for Free
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Key takeaways
- [music] He said, "You're overpriced." Because Ben Graham knew, just as Warren Buffett knew, that even though he was working for free, it was going to cost Ben Graham more to deliver all of the skills and all of the things that he would need to be successful than the monetary compensation.
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Abschnitt 1 So, one of my heroes, Warren Buffett, he finished top of his class at Columbia.
Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00So, one of my heroes, Warren Buffett, he finished top of his class at Columbia. Somebody who finished as top of their class at Columbia can get a job paying very well in most places. But, guess what he did? He asked Ben Graham to let him work at his investment firm for free. Because he realized that he was going to get more than he could possibly be compensated for. And guess what Ben Graham said to him when he asked him to work for him? [music] He said, "You're overpriced." Because Ben Graham knew, just as Warren Buffett knew, that even though he was working for free, it was going to cost Ben Graham more to deliver all of the skills and all of the things that he would need to be successful than the monetary compensation. But, because Warren Buffett is smart, he realized that he was in a season of learning and not earning yet. And so, he was willing to invest, as one of the greatest investors of all time, in the thing that was most [music] important and valuable to him at the time, himself.