2024 Annual Meeting

Reducing collisions with driverless cars would be good for society but may be bad for GEICO

Warren Buffett says that if Tesla's Elon Musk is able to reach his goal of reducing collisions by 50% with driverless technology it would be good for society and bad for insurers, "but good for society is what we're looking for." Insurance chief Ajit Jain points out that while there may be fewer collisions the cost of each collision is rising, so driverless cars may not generate the savings Musk envisions.

Mon, May 6 2024 • 12:06 AM EDT