Warren Buffett Has a Lesson for AI Investors: Don't Ignore History.
Warren Buffett once said investors would have been better off if someone had "shot Orville down" at Kitty Hawk.
Overview
In 1989, Warren Buffett put $358 million into the preferred stock of an airline called USAir. By the end of 1994, Berkshire Hathaway had written that stake down to $89.5 million, or 25 cents on the dollar.
Not the best move by one of the greatest investors of all time. Indeed, Buffett later said that it was "to [his] shame" that he had "participated in this foolishness" by purchasing the airline's shares.
Details
OK, that's great, but what does that have to do with artificial intelligence (AI)? I'll tell you.
Source
Originally published at www.fool.com.
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