Summary of Warren Buffett | Bill Gates | Lecture | University Of Nebraska | 2005

00:00:00 - 00:55:00

Warren Buffett and Bill Gates speak to students at the University of Nebraska about the challenges and opportunities of society. Gates shares his experience creating Microsoft, which is now one of the world's largest software companies. Buffett shares his advice on how to achieve success and help make a difference in the world.

• 00:00:00 Warren Buffett and Bill Gates speak to students at the University of Nebraska about the challenges and opportunities of society. Gates shares his experience creating Microsoft, which is now one of the world's largest software companies. Buffett shares his advice on how to achieve success and help make a difference in the world.
• 00:05:00 Warren Buffett and Bill Gates first met in 1991 when Buffett was a guest at a dinner hosted by Gates' parents. They have since developed a strong friendship and Gates has been an advisor to Buffett since he joined the Berkshire Hathaway board in 2006. Gates shared a funny story about how he met Buffett and how their interests aligned. Gates also shared his thoughts on the importance of good advisors and how he thinks Berkshire will groom successors for Buffett.
• 00:10:00 The speaker, Warren Buffett, discusses his job and how it involves thinking about the future and managing resources. He also mentions Bill Gates, who he admires for his work in technology. Buffett says he spends 25% of his time traveling, which allows him to think about the future and meet with customers from around the world. He also says he enjoys working a non-traditional schedule, which allows him to be more creative. Buffett concludes the talk by mentioning that video games are going to continue to improve and become more social.
• 00:15:00 Warren Buffett and Bill Gates give advice to college students on how to have good habits, make mistakes, and keep their inner scorecard in check. Buffett advises to look in the mirror for advice on tough decisions, and Gates advises to have a partner who can give you honest feedback.
• 00:20:00 Warren Buffett and Bill Gates discuss the importance of good judgement and how to encourage your friends and advisors to give them the freedom to make their own decisions. Gates also shares his advice for new entrants into the job market.
• 00:25:00 Warren Buffett shares the advice he learned from his failed investments, focusing on the importance of self-investment and following your passions. He also shares the story of how he met his wife, which he considers to be one of his best investments.
• 00:30:00 Warren Buffett, Bill Gates, and Stephanie Toombs discuss how success is achieved and how one can change the world for the better. Gates notes that success is not always dramatic, but often comes from behaving in a way that is good for others and setting an example.
• 00:35:00 Warren Buffett, Bill Gates, and Daniel Diloreto discuss the importance of education and how it can help create a better society. Gates talks about his experience helping to vaccinate people in developing countries and Buffett talks about the importance of reducing the threat posed by nuclear knowledge.
• 00:40:00 The speaker discusses how to ensure that your children value things that aren't material and things that will truly make them happy, and how he was lucky in that respect. He also discusses how to raise children who don't grow up thinking they will inherit a significant portion of the fortune of either of them. He notes that the US has a "dynastic fortune" and that he finds it un-American.
• 00:45:00 Warren Buffett talks about how he feels the U.S. taxation system is too flat, and that he would like to see a more progressive system. He also mentions that he and Bill Gates have contributed significantly to global prosperity.
• 00:50:00 Warren Buffett and Bill Gates give a talk at the University of Nebraska about their definition of success. Gates says that his success is related to the happiness of those around him and Buffet says that his success is related to raising a family and getting started in a new career.
• 00:55:00 Warren Buffett and Bill Gates give a lecture at the University of Nebraska. They discuss the value of a good education and how it can help one succeed in life.