The Luddite of Omaha

Warren Buffett - the Oracle of Omaha - has an enviable investing track record. When he talks, a number of CEOs and top executives listen.

But he is a big technology cynic as this post suggests. He makes Nick Carr look positively positive about IT.

What bothered me particularly were these two quotes "We're earning substandard returns and keeping it open just to be nice to the elderly workers." "All of the advantages from great (technology) improvements are going to flow through to the customers."

What is wrong in delighting our customers? And what is wrong in arming our "elderly" employees with automation to offset the arbitrage the Chinese and the Indians have?

Those who read my blog know I am hard on technology vendors. The key is negotiate for technology deals hard and monitor implementation and payback like a hawk.  Improve payback from technology, not quit investing in it.

God help us if our CEOs take Warren seriously when it comes to his views on employees, customers and automation.