Nati Harnik / AP

Warren Buffett, 86, gave a master class during Q&A yesterday at Berkshire Hathaway's annual meeting ("Woodstock for Capitalists"), which drew 30,000 devotees to CenturyLink Center in Omaha, Nebraska:

  • On declining U.S. manufacturing: "Nobody should be roadkill ... Greater productivity will benefit the world in a general way, but to be roadkill, to be the textile worker in New Bedford [is painful] ... It would be no fun to go through life and say: I'm doing this for the greater good, and so that shoes or underwear was all for 5 percent less."
  • On cyber attacks: "the number one problem [for] mankind."
  • On not investing in Google: "I blew it."
  • On Amazon's Jeff Bezos, and his success in both e-tailing and cloud computing: "the most remarkable business person of our age ... I've never seen a guy succeed in two businesses almost simultaneously that are really quite divergent in terms of customers and all the operations."
  • On the House health-care plan, which would repeal added taxes on payroll and investment income for high earners: "It is a huge tax cut for guys like me."
  • On managing employees: "We count very heavily on principles of behavior rather than loads of rules."

P.S. Lead story of The (London) Sunday Times, "Brexit brings bonanza for billionaires" (paywall): "[W]ealthy individuals have benefited from the weaker pound since Britain voted for Brexit, boosting the sterling value of their overseas investments."

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Updated 8 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 20,755,406 — Total deaths: 752,225— Total recoveries: 12,917,934Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 5,246,760 — Total deaths: 167,052 — Total recoveries: 1,774,648 — Total tests: 64,831,306Map.
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  4. 2020: Biden calls for 3-month national mask mandateBiden and Harris to receive coronavirus briefings 4 times a week.
  5. States: Georgia Gov. Brian Kemp to drop lawsuit over Atlanta's mask mandate.
  6. Business: Why the CARES Act makes 2020 the best year for companies to lose money.
  7. Public health: Fauci's guidance on pre-vaccine coronavirus treatments Cases are falling, but don't get too comfortable.

Trump says he intends to give RNC speech on White House lawn

President Trump speaking to reporters on South Lawn in July. Photo: Jabin Botsford/The Washington Post via Getty Images

President Trump told the New York Post on Thursday that he plans to deliver his Republican National Convention speech from the White House lawn, despite bipartisan criticism of the optics and legality of the location.

Why it matters: Previous presidents avoided blurring staged campaign-style events — like party conventions — with official business of governing on the White House premises, per Politico.

Fauci's guidance on pre-vaccine coronavirus treatments

Illustration: Aïda Amer/Axios

Antibody drugs and various medicine cocktails against the coronavirus are progressing and may provide some relief before vaccines.

The big picture: Everyone wants to know how and when they can return to "normal" life, as vaccines are not expected to be ready for most Americans for at least a year. Two therapies are known to be helpful, and more could be announced by late September, NIAID Director Anthony Fauci tells Axios.