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2004年股东大会 · 巴菲特与芒格如何评价谷歌公司及其创始人

30 段 · 3 位说话人 · 原片 3:19
M1
M10:00

大家下午好。

Good afternoon.

我叫 Matt Lynch,来自 California 的 Palo Alto。

My name is Matt Lynch, and I'm from Palo Alto, California.

Buffett 先生,今天您有几次提到了 Google 以及它的两位联合创始人。

Mr. Buffett, a couple of times today you alluded to Google and its co-founders.

我想请您跟我们分享一下,您对 Google 两位联合创始人在上周提交的 S-1 文件里附上的那份 owner’s manual,有什么看法和反应,尤其是考虑到它和 Berkshire Hathaway 的 owner’s manual 之间有哪些相似和不同。

I was hoping you could share with us your thoughts and reactions to the owner's manual the co-founders included in Google's S-1 filed last week, especially in light of the similarities and differences between it and that of Berkshire Hathaway.
M2
M20:25

嗯,这对我来说可真是个送分题。

Well, that's a real softball for me.

接着说吧。

Go on.

显然,我非常高兴,Google——Google 的那几位伙计决定这么做,而且他们也说了——我记得他们用的词是,受到了 Berkshire Owner's Manual 的启发。

Obviously, I'm very pleased that the Google— the fellows at Google decided, and they say they— it was, I think they used the word inspired by the Berkshire Owner's Manual.

而且你知道,很明显,这让我们特别高兴,因为有其他人也觉得,用一种非常直接坦率的方式跟自己的 owners——或者在他们这个案例里,是 prospective owners——沟通,是个好主意。

And, you know, it obviously pleases us enormously that other people think that it's a good idea to talk to their owners, or in their case, their prospective owners, in a very straightforward manner.

如果你是在读过他们那份 owner’s manual 之后买入 Google 的话,你就会——我想你会知道,自己是在和什么样的人打交道。

If you buy into Google having read their owner's manual, you know, you will— I think you'll know the kind of people you're associating with.

你会知道他们会做什么,不会做什么。

You'll know what they will do and won't do.

这就像一个人对另一个人说的话:如果你们要成立一家 partnership,然后你说,嗯,我想请你加入我的 partnership。

It's the kind of thing that one person would say to another if you were setting up a partnership, and you said, you know, I'd like you to join me in a partnership.

我需要你的钱,而这就是我们做生意的方式。

I need your money, and here's the way we're going to do business.

而我——我觉得更多公司——显然,我觉得更多公司都应该这么做。

And I— I think more companies— obviously, I think more companies ought to do it.

对我们 Berkshire 来说,这一直都很简单。

It's been simple for us at Berkshire.

这些原则我们已经放在心里很久了,而且我们真的希望,人们在加入我们之前就先理解这些原则。

We've had these principles in mind for a long time, and we really want people to understand those principles before they join with us.

而 Google 的那几位,用一种非常直率的方式——我喜欢他们的文笔。

And the Google fellows, in a very straightforward manner— I liked their prose.

你知道,这并不代表我同意他们的每一个想法,但我确实知道他们都有哪些想法。

You know, it doesn't mean I agree with every idea they have, but I do know what ideas they do have.

我也希望更多公司都来采用这种做法。

And I hope more companies sign on for that sort of thing.

Charlie?

Charlie?
M3
M31:59

嗯,你知道,世界上大多数人根本不会去模仿 Berkshire Hathaway。

Well, you know, most of the world does not in any way imitate Berkshire Hathaway.

这只是少数一群有点特立独行的人。

This is a quirky few.

看起来——来这里的可能有一万九千五百人,但按这个国家的标准来说,这仍然只是少数一群有点特别的人。

It may look— there may be 19,500 of you that came, but it's still a quirky few by the standards of the country.

而 Google 有意思的地方在于,创造出它的那两个家伙,是全国最聪明的年轻人里头的两个,被这么聪明的人模仿,可比被普通大众模仿有意思多了。

And what's interesting about Google is that those 2 guys who created that are 2 of the smartest young men in the whole country, and it's much more fun to be copied by people that smart than by a generality.
M2
M22:32

我们甚至觉得,他们比我们上周以为的还要更聪明。

We even think they're smarter than we thought they were last week.
M3
M32:34

对,我们现在觉得他们聪明多了,对。

Yeah, we now think they're a lot smarter, yeah.
M2
M22:41

我敢说,看着这家公司接下来怎么发展会非常有意思,而且我猜,他们的 annual reports 会非常值得一读。

It's going to be a lot of fun to watch that, I bet, and my guess is that their annual reports are going to make very good reading.

实际上,他们俩会轮流来写这些报告,而且,而且我觉得,如果你去读的话,你会对他们、也会对他们的业务了解很多。

They're actually going to alternate the two of them in writing the reports, and, and I think you'll know a lot about them and a lot about their business if you read it.

不过他们里面有一两句也挺有意思的——如果我没记错的话——我也很欣赏。他们说,你知道,有些可能会影响他们业务前景的事情,尤其是涉及竞争之类的,从这个角度讲,最好还是别说;如果是这样,他们就不会告诉你。

Although they had an interesting— as I remember, they had an interesting sentence or two in there which I admired also, where they said that, you know, certain of the things that might affect their business prospects really would be better left unsaid in terms of competition and so on, and if so, they weren't going to tell you.

我还挺喜欢这一点的。

I kind of enjoyed that.

呃,请第四位。

Uh, number 4, please.