Warren Buffett's 97-year-old business partner, Charlie Munger, surprisingly embraced Zoom during the pandemic. Eric Yuan, the founder and CEO of the video-conferencing platform, celebrated the veteran investor's endorsement of his product on an earnings call this week.
Munger, the Vice-Chairman of Berkshire Hathaway, said, "I have fallen in love with Zoom. Zoom is here to stay. It just adds so much convenience. When the pandemic is over, I don't think we're going back to just the way things were. We're going to do a lot less travel and a lot more Zooming."
Munger added that he struck a deal in Australia using the communications tool. He trumpeted its prospects at Daily Journal's annual meeting in February as well.
Yuan thanked Munger for his vote of confidence in a tweet in late June. He tipped his hat again during Zoom's second-quarter earnings call and offered to troubleshoot any issues the investor runs into.
Yuan may have Munger firmly in his corner, but Buffett is far more skeptical. "I'm just not a Zoom guy. I don't see any plus to it, particularly. I'd rather have my feet on the desk, and I find the telephone a very satisfactory instrument," Buffett added.
