During a recent event at Zhejiang University, Duan Yongping shared insights from his dinner with Warren Buffett (Trades, Portfolio), where they discussed the business models of Coca-Cola and Apple (AAPL, Financial). Buffett reminisced about his childhood preference for Pepsi due to its lower price compared to Coca-Cola. Duan pointed out that while Pepsi was cheaper, the price difference between Android and iPhone doesn't deter Apple users, highlighting Apple's strong business model.
At the 2022 Berkshire Hathaway shareholder meeting, Duan recounted how Buffett introduced him to Charlie Munger and Bill Gates (Trades, Portfolio), crediting Duan's insights on Apple's business model for his significant investment in Apple stock. Duan humorously noted that while Buffett's decision to buy Apple shares wasn't directly influenced by him, Buffett's long-term hold on the investment might have been.
During the event, Duan also shared three pieces of advice: do the right things, do things right, and maintain integrity.
