There, he also expressed that self-driving cars could be bad for the auto insurance companies, including Geico, which is owned by Berkshire. Buffett then spoke on this subject when he appeared on CNBC. In the interview, he had been asked if the insurance company will face "a problem" when autonomous steering started to become popular. In his reply, he said that "the answer is neck." He pointed out that he felt that the auto industry is still a long way from actually getting a few cars on the road in an orthodox manner. However, he said that this has the potential to make roads much safer, because of its nature, is not great for car insurance companies. At the same time, he also stressed that its time the insurance industry to note the fact that insurers have always had the goal of making vehicles safer. But when all is said and done, he said, "if there is no accident, then do not need insurance.
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