Elon Musk is still one of the great entrepreneurs of our time: Sonnenfeldt

>> WELCOME BACK. NOW THIS. TESLA AND CEO ELON MUSK SHOCKING WALL STREET LAST WEEK WITH HIS ANTICS ON THE EARNINGS CALLS BY CALLING BORING BONEHEAD QUESTIONS HE BACKTRACKED ON FRIDAY AFTER STOCKS TOOK A HUGE CASINO IS FOOLISH TO IGNORE THE ENDLESS QUESTIONS. MY NEXT GUEST HAS A DIFFERENT DAY. JOINING US NOW IS MICHAEL "SEINFELD," CHAIRMAN OF 21. YOU'VE GOT MEMBERS WHO MOSTLY AGREE WITH HOW MUST HANDLE THE CALL. >> MUST HAVE DONE SOMETHING. HE'S ONE OF THE GREAT LUNCH PARTNERS OF OUR TIME. HE'S TAKEN A POUND TO USE TO CAUSE $40,000 TO PUT INTO SPACE AND COST $1200 NOW. IT'S COMPLETELY CHANGE THE INDUSTRY. TESLA AS A STOCK UP AND DOWN BUT NOT FOR NEWER ONE OF THE GREAT ENTREPRENEURS OVER TIME. >> WAS IT OKAY -- THEY WANTED TO KNOW ABOUT THE QUIDDITY ISSUES AND BY THE COMPANY BURNED SO MUCH CASH. THESE ARE ALL BONEHEAD QUESTIONS. >> I DON'T THINK THEY'RE BONEHEAD QUESTIONS. ENTREPRENEURS GET OUT AND PEOPLE WONDERING WHETHER THEY ARE OVERPRICED OR UNDERPRICED. I WOULD SEPARATE OUT FROM HE'S STILL ONE OF THE GREAT ENTREPRENEURS OVER TIME. >> EVER TECHNOLOGIES A GREAT ENTREPRENEUR. THE QUESTION OF WHETHER YOU CAN MAKE THE TRANSITION TO A GUY WHO CAN RUN A SCALING BUSINESS. MODEL THREE. YOU WANT TO SEE THEM PRODUCE CONSISTENTLY. WE CAN'T SEEM TO GET THAT DONE. YOU SEE AT THE POINT WHERE HIS SKILL SETTINGS TO CHANGE ANY CAN'T DO THAT? >> MUSTER OUR MEMBERS CREATE A GREAT BUSINESS ACROSS NORTH AMERICA. EVERYONE WENT THROUGH THIS TRANSITION. IT'S THE ROLE OF THE ENTREPRENEUR IS FAILED SUCCEED, FAIL AT MOVE ON. HE'S ACTING LIKE A TYPICAL ENTREPRENEUR BUT IN THE PUBLIC LIGHT ANY SCALE WE'VE NEVER SEEN BEFORE. >> AND NOBODY DID THIS WEEKEND. THE WARREN BUFFETT BERKSHIRE HATHAWAY MEETING AND THEY SAID THAT, BUSINESSES AT THE MOAT AROUND THEM ARE GREAT BUSINESSES. OVER THE WEEKEND, I DON'T CARE ABOUT HAVING A MOTOR RUN YOUR BUSINESS. NO BIG DEAL. WARREN BUFFETT CHALLENGES HAVE BEEN SAYS HOW ABOUT MY CANDY COMPANY THAT HAS ITS OWN MOAT AROUND IT AND YOU SHOULD NOT TAKE ON -- TAKE ME ON IN THE CANDY BUSINESS. WHAT DOES MUST DO? HE SAYS I'M STARTING A KIDNEY COMPANY. >> IS GOING TO BE AMAZING. I AM SUPER, SUPER SERIOUS. >> GUT TELL YOU SOMETHING SWEETER THAN THAT. WARREN BUFFETT SAID IF HE INVESTED IN A TEAM 42 WILL BE WORTH $51 MILLION. THAT'S A 12% COMPOUND OF RETURN% COMPOUND TO RETURN TO MATCH THE S&P NOT EVEN BERKSHIRE HATHAWAY. THAT TALKS ABOUT THE ENDURING NATURE OF OUR ECONOMY. WARREN BUFFETT IS ONE OF THE GREAT INVESTORS. ELON MUSK IS ONE OF THE GREAT ENTREPRENEURS. I HOPE HE SURVIVES. >> WORKSHARE HATHAWAY IS A FULLY DIVERSIFIED BUSINESS WITH THE PORTFOLIO COMPANIES. THE QUESTION IS DIVERSIFICATION WILL BE AS DURABLE. >> WAY TOO EARLY TO TELL. >> THINKING IT'S IMPORTANT THESE DAYS. THE MAJORITY OF HOLDINGS ARE IN REAL ESTATE AND PRIVATE EQUITY. >> REAL ESTATE IS 30%. I'VE EQUITY IS 22. PUBLIC EQUITY 22 WHEN YOU ADD STOCK IN MEETING IN NORTH AMERICA TO SAY WHAT IT WOULD LOOK AT BECAUSE IT'S NOT JUST INTEREST RATES, INFLATION, WHICH INFLATION THAT'S AN IMPORTANT FACTOR. WE HAVE CONTRADICTIONS RIGHT NOW WHETHER KIND OF HOLDING THEIR BREATH. WE HAVE AMAZINGLY LOW UNEMPLOYMENT BUT WE ALSO HAVE LOW RATES OF PARTICIPATION. WE SHOULD HAVE WAGES HE NAPPED A LOT MORE THAN YOU ARE. THAT TALKS ABOUT ANOTHER WORKING CLASS. THE TECHNOLOGY AND BEING A RAISE. PEOPLE ARE CONCERNED ABOUT IRAN, NORTH KOREA. BUT THEY ARE REALLY CONCERNED ABOUT A TRADE WAR. NOBODY THINKS THAT WILL BENEFIT US. YOU HAVE THESE KINDS OF CONTRADICTIONS AND IMMEDIATE, WE HAVE THESE CONFIDENTIAL MEETINGS. I GUESS ONE OF THE MAINTENANCE TWO WEEKS AGO HOW MANY MEMBERS HAVE DELAYED OR PUT OFF MAKING A DECISION BECAUSE OF WHAT IS GOING ON IN WASHINGTON. A MAJORITY OF MEMBERS HAVE SAID THEY DELAYED. THEY ARE INVESTING IN THAT 70s. PEOPLE ARE NERVOUS, BUT WE ARE FULLY INVESTED. IT'S NOT CRISIS MODE BY ANY MEANS. FUNDAMENTALLY, THE ECONOMY IS STRONG. GREAT GROWTH IS PRETTY AMAZING. TRIED TO BUSINESS MANAGERS ANSWER TO DO TO PUT MONEY TO WORK FOR THE NEXT 10 YEARS. >> YOU MENTION THE TRADE ISSUE. FRIDAY TO ME WAS THE DAY OF UNCERTAINTY. HOW DO YOU LOOK AT THAT? DOES THAT MAKE YOU MORE WORRIED? >> IN ADULT THE CHILDREN. IF YOU LISTEN TO WHAT WARREN BUFFETT SAID THIS WEEKEND, IT IS NOT IN CHINA'S INTEREST FOR THE UNITED STATES TO CREATE A TRADE WAR. THAT IS WHAT COMMON SENSE SAYS IT'S COMMON SENSE PREVAILS WILL BE FINE. LET'S HOPE IT DOES. >> ALSO IN THE U.S. INTEREST TO OPEN UP MARKETS IN CHINA. >> WITHOUT QUESTION. MARIA: YOU CAN'T HAVE ONE WITHOUT THE OTHER. IF THEY COULD ACTUALLY COME BACK WITH NEWS THAT CHINA HAS AGREED TO OPEN ITS MARKET, THERE WOULD BE HUGE TO.