[dave_sullivan]

Buffett has famously stayed out of tech companies because he (self admittedly) doesn't understand them.

A BK of the internet would buy ugly tech companies, turn them around, and sell them. Buffett is definitely not the only guy in that business, but he's probably been the most successful. An internet version of that would have to really really understand technology and the markets driving it, along with understanding the modern financial system and sources of capital (to finance buying the companies). It is kind of a weird combination.

However, I do think we're going to start seeing waves of consolidation in tech, and maybe some interesting turnarounds.

[tim333]

Buffett has bought some tech in recent times - IBM and Apple. More established stuff with cash flow.

[dave_sullivan]

Indeed. What do you think he meant when he talked about not wanting to invest in tech companies in the past? Or did he never say that?