Technology

58550 readers

4746 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

1445

GEICO is Terminating Insurance Coverage of Tesla Cybertrucks, Says “This Type of Vehicle Doesn't Meet Our Underwriting Guidelines” (www.torquenews.com)

submitted 2 days ago by shoulderoforion@fedia.io to c/technology@lemmy.world

244 comments fedilink hide all child comments

GEICO, the second-largest vehicle insurance underwriter in the US, has decided it will no longer cover Tesla Cybertrucks. The company is terminating current Cybertruck policies and says the truck “doesn’t meet our underwriting guidelines.”

you are viewing a single comment's thread
view the rest of the comments

[–] sunzu2@thebrainbin.org 16 points 1 day ago (11 children)

Warren buffet is literally a senator's son... CCR has a song on the topic ;)

He gave his kids each $17.5M to start their organizations, and then donated like $5B total to their organizations once they proved their management skills.

Literally this what nepotism looks like... 17m is prolly just enough not to get eaten by estate tax.

You are confusing estate planning with charity.

But he pledged to give away most of the rest (almost $100B), and has already given away about $50B (latest pledge is 99% of his assets).

Without reviewing the structures, this is just a trust me bro

Use some critical thinking? And a bigger question why are you worshiping some gereatric nepo baby enough to try to defend him with propaganda that he paid a lot of money to get into your head.

[–] sugar_in_your_tea@sh.itjust.works 9 points 1 day ago (10 children)

Without reviewing the structures, this is just a trust me bro

You can literally see the donation of $48B. The pledge itself isn't legally binding, but he has been consistently donating. He's 94, so I don't think it'll take long to see the proof in the pudding.

Here are some notes from his Wikipedia page:

In 2008, Buffett was ranked by Forbes as the richest person in the world with an estimated net worth of approximately $62 billion. In 2009, after donating billions of dollars to charity, he was ranked as the second richest man in the United States with a net worth of $37 billion.

...

As of 2023, Buffett has given over $50 billion to charitable causes.

I will note that the last figure probably includes the money given to his kids' organizations (not directly to his kids).

And a quote about inheritance for his kids:

"I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing"

He has a pretty consistent track record of philanthropy and statements about philanthropy, so I would be really surprised if he changed that in the last few years of his life. I guess we'll see though.

why are you worshiping some gereatric nepo baby

Where did I say I was worshipping him? I'm merely saying I think what he's doing is admirable and that he doesn't qualify as a "nepo baby." If you look into his history, he worked hard throughout his early life to save and invest, and I see no indications that his parents gave him a huge inheritance or kickstarted his career in any meaningful way. Yeah, his dad was a House Rep for 8 years (6 of those consecutive), and here's a quote about him on his father's Wikipedia page:

'Unshakably ethical, Howard refused offers of junkets and even turned down a part of his pay. During his first term, when congressional salary was raised from $10,000 to $12,500, Howard left the extra money in the Capitol disbursement office, insisting that he had been elected at the lower salary.' His wife said he considered only one issue when deciding whether or not to vote for a bill: 'Will this add to, or subtract from, human liberty?'

That doesn't sound like the kind of man to give his son an unfair advantage...

[–] Malfeasant@lemm.ee 5 points 1 day ago (2 children)

It's not charity to give money to an organization you (or friends or relatives) control, it's a way to keep your assets under your control without having to pay taxes that would otherwise be required.

[–] nednobbins@lemm.ee 1 points 19 hours ago

That would be true if he were secretly using those charities to enrich himself but there's no evidence of that at all.

load more comments (1 replies)

load more comments (8 replies)