Elon Musk recalls billionaire Charlie Munger describing 'all the ways Tesla would fail'   

The incident took place in 2009 when Elon Musk was at a lunch with Charlie Munger, when the latter told everyone in the room that Tesla would fail, a statement which hurt Musk.

Tesla chief Elon Musk recalled the time when billionaire investor Charlie Munger described “all the ways” in which his electric car company would fail.

Munger on Wednesday reiterated his extremely hostile stance on cryptocurrency during the annual general meeting of Los Angeles-based publication Daily Journal, a company he has helmed since 1977.

Noting Bitcoin and other cryptocurrencies as "beneath contempt", Munger went as far as deeming the main use for this "apparent modernity" as being limited to "extortion, kidnappings and tax evasion".

Wishing it had been banned immediately, he said he admired China for immediately banning it while acknowledging that "we (US) were wrong to allow it". 

Tesla is today the world's most valuable auto brand With rising demand for electric vehicles, the company reported a record $5.5 billion profit in 2021.

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