- Berkshire Hathway vice-chairman praises China for its censorship and action against Alibaba and Jack Maa.
- Munger’s comment drew a lot of flak, especially from the crypto community.
Both his past and present actions are taken into account to call out Munger for his lack of knowledge and empathy.
Berkshire Hathaway vice chairman Charlie Munger praised the Chinese government for silencing Alibaba's Jack Ma in a recent interview, adding that he wishes US financial regulators were more like those in China. https://t.co/Pc0TGtz9XT
— CNN (@CNN) June 30, 2021
“Communists did the right thing,”, Munger told CNN
Munger is on the receiving end of social media trolling right now; not because the 97-year-old billionaire said something offensive and orthodox, but because of his double standards. Last year Munger criticized the Chinese regulators upon the unceremoniously halting Ant Group’s billion-dollar IPO project. He commented against the Chinese government for restricting innovation in the business sphere, which Munger believed is essential for a “civilization”.
However, Munger clarified how he would not want the US to adopt all Chinese policies, but it would not hurt America to have stricter financial regulation.
Crypto Community calls out Munger, again
After the 2018 roast of cryptocurrencies by Charlie Munger and Warren Buffett, the crypto community has not shown the duo any mercy in critiquing their every move. Munger, after comparing crypto to “dementia” in 2018, continued to disregard its existence as a threat to civilization referring to a lack of ethics and trust in the cryptosystem.
Same billionaire that calls Bitcoin “contrary to the interests of civilization” calls for the US to be more totalitarian, communist, and censorious.
What kind of civilization, exactly, does he have in mind? https://t.co/MOd2DMHME6
— Alex Gladstein 🌋 (@gladstein) July 1, 2021
The crypto community looked enraged at Munger’s hypocrisy and pro-censorship stance on social media. The community anyway does not appreciate Munger’s supremacist attitude, but they completely condemned Munger’s move of advocating for China’s government and advising the US to take notes.