"When someone takes their existing business and tries to transform it into something else - they fail. In technology that is often the case. Look at Kodak: it was the dominant imaging company in the world. They did fabulously during the great depression, but then wiped out the shareholders because of technological change."

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About Charlie Munger

Charlie Munger was an American investor and businessman best known as vice chairman of Berkshire Hathaway. He was Warren Buffett’s longtime business partner and a major influence on value investing practice.

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