What is ' a mandate to maximize life'? To illustrate the point, Buffett suggested that we imagine that the annual meeting was being held on a tour boat that was blown off course and wrecked on a deserted island. We might elect Buffett to be chair- man of the island with a mandate to maximize life on the island. He would probably set half of the shareholders to work raising food, some to building shelter and an inventive few to creating tools and new tech- nologies for the future. Now imagine that an IQ test was given so that Buffett could take 30 or 40 of the best and brightest, give them each a Quotron terminal and have them trade futures on the output of the food producers. It’s absurd, of course.
Sep 14, 2018 3:20 AM
Answers · 5
'mandate' here means something like 'mission'. It is the purpose for which he was elected. 'maximise life' is a bit strange. Literally, it could mean 'maximise how long the people live'. It could also be interpreted as 'maximise the quality of live'. I'm not sure which it means, or even if it really matters.
September 14, 2018
He was given authority by the others to make the most out of life on the island for them all.
September 14, 2018
September 14, 2018
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