I really don't believe this is true for tech companies at all.
A decade ago, I had a front-row seat for Yahoo! under the stewardship of CEOs brought in to run the business well. The focus was not on innovation, and the company continued to languish. Why? Because tech companies that don't innovate get their lunches eaten by the ones that do.
As for Buffett, I'm no expert on his portfolio, but I believe his track record was built on non-tech companies until very recently.
A decade ago, I had a front-row seat for Yahoo! under the stewardship of CEOs brought in to run the business well. The focus was not on innovation, and the company continued to languish. Why? Because tech companies that don't innovate get their lunches eaten by the ones that do.
As for Buffett, I'm no expert on his portfolio, but I believe his track record was built on non-tech companies until very recently.