Bill Gates Warns Of Coming Financial Crisis, Will You Be Ready
In a recent online interview, Microsoft co-founder and richest man in the world Bill Gates confirms that his pal Warren Buffett believes that we are headed into another financial crisis, similar to the subprime mortgage event that caused a recession in 2008.
Read his answer carefully to see if you can guess why a charity-loving guy like Bill Gates isn’t keen on telling you exactly what will break down.
‘Yes,’ There Will Be Another Financial Crisis Soon
When asked by a user:
“Do you think in the near future, we will have another financial crisis similar to the one in 2008?”
“Yes. It is hard to say when but this is a certainty. Fortunately we got through that one reasonably well. Warren has talked about this and he understands this area far better than I do.
“Despite this prediction of bumps ahead I am quite optimistic about how innovation and capitalism will improve the situation for humans everywhere.”
So, Gates doesn’t offer a time frame, and it’s unsure if he means that the crisis will be limited to the western world, but it sounds like Warren Buffett is already prepared for the upcoming “bumps ahead” prediction. Since the first user didn’t talk about “bumps ahead,” I’ll guess that “bumps ahead” is directly from Buffett’s mouth.
Young Bill Gates Learned Coding and Charity
Born in 1955, Gates’ family had already proven their intelligence. His father was a lawyer, and his mother was on the board of directors for the United Way and the First Interstate BancSystem. It is likely through his mother that Bill was instilled with the idea that properly funneling money to local efforts can make a profound impact in the lives of others. He grew up attending a Protestant Reformed church.
Gates was enabled to learn computer programming after his private prep school’s Mothers’ Club raised money with a rummage sale to buy a Teletype Model 33 and funded time for students to learn programming. Gates soon learned BASIC, a program that has been updated several times and is still in use today after being invented in 1964. Soon, Gates programmed a Tic-Tac-Toe program. As a young teen, he taught himself more programs including machine language, which is considered the lowest-level language. By learning machine language, which is a series of 1s and 0s for “on” and “off,” Gates was able to build any program that could possibly run on the machine’s hardware. It was using this knowledge that Gates was able to get in on the ground floor of computing and co-found Microsoft with Paul Allen in 1975.
Decades after co-founding Microsoft, Bill Gates has become the richest man in the world. Through his Bill & Melinda Gates Foundation, he is intending on spending most of it before he dies. Aside from his mother’s work with the United Way, Gates looked back at Andrew Carnegie and John D. Rockefeller’s charitable efforts and since 1994 has donated Microsoft stock worth to his own charity. As of 2014, the charity held over $44 billion and is the largest private charitable foundation in America. It is partly handed by the investor Warren Buffett.
Flashback: Bill Gates, Warren Buffett Want Cheap Labor
Since the biography here was written with the official sources, we know that it shines a bright, happy light on the Bill and Melinda Gates Foundation. So let’s step back and take a look at Warren Buffett and Bill Gates, both of the Foundation, to see how they really feel.
A letter co-signed by the two men along with Sheldon Adelson reads, in part:
“We believe it borders on insanity to train intelligent and motivated people in our universities — often subsidizing their education — and then to deport them when they graduate.”
Through the whole letter, the argument is to push for more visas to allow tech companies including Microsoft to benefit from foreign labor staying in the United States without earning citizenship.
Previous Question & Answer
Last year, Bill Gates ran a similar thread on the same website. Here are some of the highlights from that thread:
- Gates sometimes wears “a hat” in order to walk around without being recognized, saying that fewer people recognize him and those that do understand that the hat means he wants to be left alone.
- One of his main focuses with the Foundation is the full eradication of polio.
- Gates quotes Warren Buffett on success, saying “Buffett has always said the measure is whether the people close to you are happy and love you.”
- Says that Artificial Intelligence must be developed by people with “the right values.” A few weeks ago we covered a university in South Korea receiving a boycott from international scientists for partnering with a weapons firm to allegedly create an artificial intelligence that kills without human instructions.
Sources: Business Insider, reddit, Daily Mail