Billionaires Cuban, Musk and Buffett Thrive on This ‘Simple’ Advice — and You Can, Too
Written by
Dawn Allcot
Edited by
Daria Uhlig
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
The Oxford English Dictionary defines jargon as “special words or expressions that are used by a particular profession or group and are difficult for others to understand.” Studies show that when you use jargon to try to sound smarter, it has the opposite effect.
A 2022 survey from Enreach revealed that 90% of people believe people use business jargon “to cover up the fact they had no idea what they were talking about.” And 21% of those surveyed said they “would run a mile if they heard business jargon at a job interview.”
If you are going to take one tip for business (and social) success into the new year, make it this one: Avoid jargon.
Why Warren Buffett Avoids Jargon
Billionaire Warren Buffett makes a point to deliver his annual shareholder letter using language he would use if he were talking to his sisters, Doris and Bertie.
Far from being an insult to his sisters’ intelligence, it’s an acknowledgement that they are not steeped in the business world and wouldn’t understand a letter filled with jargon. “Berkshire is pretty much their whole investment,” he told CNBC in a Squawk Box interview.
Because they aren’t active in business, the only time they might hear about the company is from Buffett’s shareholder letter. “I pretend that they’ve been away for a year and I’m reporting to them on their investment,” he told CNBC.
Elon Musk Banned Jargon at Tesla
Elon Musk would be the type to disregard a job candidate if they used jargon or overly complicated language, based on a letter he wrote to Tesla employees in 2018.
In the letter, reported by CNBC, the billionaire CEO of Tesla and SpaceX wrote, “Don’t use acronyms or nonsense words for objects, software or processes at Tesla. In general, anything that requires an explanation inhibits communication. We don’t want people to have to memorize a glossary just to function at Tesla.”
Mark Cuban’s Least Favorite Word
Shark Tank’s Mark Cuban agreed with his fellow billionaires’ avoidance of jargon. “Always use the simpler word,” he said in a video by Wired in which he answered business questions from the social media platform X, formerly Twitter.
Based on the interview, Cuban specifically detests jargon that falls into the category of “buzzwords.” For example, he told Wired, “There’s no reason to ever use the word ‘cohort’ when you could use the word ‘group.’ A cohort is a group of people. Say ‘group.’ You sound stupid when you use the word ‘cohort’ because you’re trying to sound smart.”
The Most Annoying Buzzwords of 2023
As we round out the year, what are the most annoying buzzwords to avoid moving into 2024?
Inc. explored the most hated words of the year by polling its X (formerly Twitter) and LinkedIn followers. If you want to sound smarter in 2024, you may want to avoid these buzzwords.
- I hear you
- Let’s parking lot this
- See if the juice is worth the squeeze
- Let’s circle back
- Synergy
After all, you probably won’t hear Elon Musk saying “Let’s circle back” unless he’s talking about putting Starship back on the launch pad for another test.
More From GOBankingRates
