Elon Musk Challenges Warren Buffet's Candy Empire With Cryptocandy

Elon Musk Challenges Warren Buffet's Candy Empire With Cryptocandy

Musk caught wind of this and retweeted a story about it, along with a link from the movie Trolls, possibly because he knew he was about to troll Buffett on Twitter, big time.

Buffett rebuffed Musk's claim at the Berkshire Hathaway shareholder meeting on Saturday, saying, "I don't think [Musk would] want to take us on in candy". He did, however, note that this project is "going to be wonderful".

On Monday, Tesla began the process of what Chief Executive Elon Musk called scrubbing the "barnacles" off of the company with what was described as a new, brutal regime with regards to Tesla contractors.

Over the weekend, Tesla CEO Elon Musk caused a furor when he tweeted that he plans to start a candy company, promising that his latest enterprise-whenever it materializes-will be "amazing". Moats, a competitive buffer between one's business and the rest of the competition, have historically been used by Warren Buffet. Presumably because Buffett likes to invest in companies that have large moats-not physical ones but of the business variety-which Musk referred to as an oligopoly, or a business market where there's limited room for any competition. See's sweets, according to Buffett, is a company with a wide moat, since it boasts a loyal, entrenched customer base, which makes it hard from rival candy chains to steal its thunder, Fortune notes. The legendary investor said that "Elon may turn things upside down in some areas".

The electric vehicle maker warned in a securities filing it "may need or want to raise additional funds in the future", adding that "these funds may not be available to us when we need or want them, or at all".

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He tweeted, "I'm starting a candy company and it's going to be wonderful". It's hard to determine what his actual plans are, as Musk has proven to be quite unpredictable in the past.

Do you think Musk is being serious?

Of course, the inevitable comparisons to Willy Wonka began to pop up, though Musk seemed to balk at the suggestion.

Musk was off and running after that and the first candy tweet was out. As always, if you have anything to share, feel free to sound them off in the comments section below!

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