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Berkshire Hathaway Inc.’s (NYSE:BRK) CEO, Warren Buffett, says that if accidents are reduced because of Elon Musk’s Tesla Inc. (NASDAQ:TSLA) achieving full autonomy, it’ll be good for society.
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What Happened: Speaking at an event in 2024, the veteran investor was asked about the impact of autonomous vehicle software like Tesla’s FSD on insurance companies like Geico, which Berkshire Hathaway owns.
“If accidents get reduced 50%, it’s going to be good for society, and it’s going to be bad for insurance companies’ volume,” Buffett said.
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The investor then said that the societal good is the main goal. “Good for society is what we’re looking for,” Buffett said at the event.
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Why It Matters: While Buffett’s comments could paint an optimistic picture of Tesla’s FSD, the technology has been on the receiving end of criticism for several reasons.
The NHTSA had earlier said it was probing into possible traffic violations committed by Tesla Robotaxis on FSD during last month’s Austin Robotaxi launch event.
FSD could also face increased scrutiny after President Donald Trump’s nominee to lead the NHTSA, Jonathan Morrison, sounded calls for tougher oversight on autonomous driving technologies.
Elsewhere, Tesla is also facing a wrongful death lawsuit following a 2024 crash in New Jersey when a Tesla Model S veered off the road, resulting in the deaths of all three occupants inside the car.
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