Running Tesla, Space X, the Boring Company, and others apparently isn't enough.
Elon Musk, the famed CEO of Tesla who says he hasn't had time to shower while ramping up production of the company's critical Model 3, now says he plans to start another company.
In a war of words with fellow billionaire Warren Buffett on Twitter,Musk said, "I'm starting a candy company, and it's going to be amazing."
I’m starting a candy company & it’s going to be amazing
— Elon Musk (@elonmusk) May 5, 2018
The war of words came after Musk, in last Wednesday's earnings call at Tesla, criticized businesses that depend on "moats" to ward off competition. An example of a moat could be car dealerships with their franchise laws, such as those that prevent Tesla from selling directly to consumers in some states. Musk called moats "lame," and said "what matters is the pace of innovation, according to a CNBC report.
Warren Buffett
As a famed value investor, Buffett, at his own shareholder meeting on Saturday, said that businesses with strong, successful moats do exist, quipping that "Elon may turn things upside down in some areas. I don't think he'd want to take us on in candy."
It was apparently one of the few wrong calls the sage of Omaha has made, since Musk fired back his intention to do just that on the same day.
If there's one thing we know about Elon Musk, it's that he hardly hesitates to start new companies. Maybe instead of an ashtray, new Teslas will come with a candy dish.
