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CEO Abel, Head of Insurance Jain, Head of Consumer Products, Services & Retail Johnson, and Burlington Northern Santa Fe Railway CEO Farmer appeared together. Abel discussed numerous topics, including AI and how to drive long-term growth for the group, while Buffett, seated off the main stage for the first time, remained a focal point of the meeting. Here are some highlights from the shareholder meeting:1. Current environment is not ideal. Buffett noted that, for Berkshire in terms of cash allocation and investment decisions, "this isn't our ideal market environment. You have to wait until no one wants to pick up the phone and the market is left unattended."2. Atmosphere of speculation. Buffett stated that buying or selling same-day options doesn't count as investing or even speculating; it's pure gambling. "There's never been a time like now, with the entire public immersed in a gambler's mentality. No one can reasonably explain why you'd buy a same-day option—unless, like this person, you have advanced knowledge of insider action in Venezuela, cashing in over $400,000… The scale of this type of speculative trading is now astonishing."3. Risk warning. The venue displayed a video of Buffett, which Abel later revealed was a deepfake generated with AI. Abel said this served as a good warning for the entire team. "The AI-generated Buffett video had no participation or authorization from the real person." Berkshire plans to use technical tools to identify cybersecurity threats, with an initial focus on the insurance sector.4. Not blindly following trends. Abel said that AI must create incremental value for existing businesses; they won't pursue AI initiatives just because others are. Jain noted that if AI matures as the market expects, it will undoubtedly be disruptive. "But currently, the AI we see is more a productivity tool, helping lower labor costs and handle routine repetitive tasks."5. Opportunities in data center construction. Abel said that in terms of peak load, data centers currently consume only 8% of grid capacity, with the industry's target generally between 5% and 10%. "We expect this segment to have room for growth of 50% or more in the next five years." Major hyperscale cloud operators, data centers, and large energy users must bear their full electricity costs.6. Core principles remain unchanged. Abel reiterated a commitment to the core investment and management principles long championed by Buffett: holding US Treasury cash reserves, maintaining financial independence, flexible capital allocation, and tax efficiency. "We've all heard it many times: arrogance, bureaucracy, and complacency will quietly erode a business and ultimately bring it down. We're determined never to let this happen at Berkshire."7. Core holdings. Abel stated that the four major core holdings—Apple, American Express, Moody's, and Coca-Cola—are the foundation of Berkshire’s stock investments. Large holdings in the five major Japanese trading houses are another pillar. There are also significant positions outside the core assets, including Bank of America, Chevron, and Google. "When making investment decisions, I will always coordinate and communicate with Buffett."8. No spin-offs or breakups of subsidiaries. Abel said Berkshire will never break up the group or spin off its subsidiaries. "We are unique—our capital allocation efficiency is extremely high."9. Impact of the Middle East conflict. Jain stated that Berkshire is involved in an insurance plan specifically for vessels transiting the Strait of Hormuz. "It depends on premium pricing," and as of now no business has been underwritten. Johnson said that in the consumer goods and physical retail sectors, demand has already been impacted to some extent. "We're prepared for such uncertainties and will make adjustments as necessary."10. Berkshire’s future. Asked about succession planning for himself and Jain, Abel said the board has a comprehensive and established plan, which will continue to be discussed and refined. "So, if Jain or I are ever unable to fulfill our duties, the board knows exactly what actions to take for succession."

1. The Central Bank of Brazil prohibits fintech companies from using cryptocurrencies for cross-border payments 2. Trump criticizes banks for obstructing cryptocurrency legislation, saying crypto has become mainstream 3. BlackRock opposes the Office of the Comptroller of the Currency's proposal to set a 20% cap on tokenized reserve assets 4. Iran responds to the US proposal with 14 conditions, including unfreezing assets, military withdrawal, and war reparations 5. One exchange: Lawmakers have reached an agreement on stablecoin yield provisions, clearing the way for the Clarity Act 6. Arbitrum decides by vote to unfreeze 71 million USD worth of ETH to address the Kelp DAO vulnerability 7. Kelp DAO suffers a $292 million attack, shaking the DeFi market, while Apollo and BlackRock continue to advance on-chain finance 8. CryptoQuant analyst: Bitcoin would need to drop to $59,000 to bottom out, which may take around 6 months The above are the top highlights from the past 24 hours, click to read the full article: https://www.aicoin.com/article/531886

BlockBeats news, May 3 – According to Xinhua News Agency, Iranian media on the 2nd revealed the latest negotiation proposal delivered by Iran to the United States via intermediary Pakistan, containing a total of 14 suggestions focused on "ending the war." Iran is waiting for an official response from the U.S. side. The main points of Iran's proposal include ensuring no more military aggression occurs, withdrawal of U.S. forces from regions surrounding Iran, lifting the maritime blockade, unfreezing Iran's frozen assets, payment of compensation, removal of sanctions, achieving peace on all fronts (including Lebanon), and establishing a new management mechanism for the Strait of Hormuz. Through this proposal, Iran draws a firm "red line" and offers a clear roadmap "for ending this imposed war." According to data from a certain exchange, Bitcoin surged above $79,000 early this morning before pulling back, and is now at $78,660, up 0.65% in the past 24 hours. In the past 24 hours, the total liquidation across the network was $157 million, including $39.01 million in long liquidations and $118 million in short liquidations.