Munger’s remark suggests that choosing clients should involve more than assessing the immediate commercial opportunity. Just as friendships depend on trust, compatibility and mutual respect, professional relationships can be easier to sustain when the people involved share reasonable expectations and standards of conduct.

The quote also reflects the importance of selection in business. A difficult or unreliable client can consume time, create conflict and expose a firm to reputational or financial risks, even when the work itself appears profitable. Choosing clients carefully can therefore be a form of risk management as well as a question of personal preference.

More broadly, Munger is drawing attention to the quality of the relationships surrounding a person’s work. The comparison with friendship does not mean that clients and friends are identical, but it suggests that trustworthiness, character and compatibility are relevant considerations when deciding whom to work with over the long term.