FYI - For Your Innovation

On this episode of FYI, Associate Portfolio Manager Nicholas Grous, ARK Advisor Angie Dalton and Analyst Andrew Kim, speak with Joe Ferencz, CEO and founder of Gamefam. They explore the potentially transformative role of Gamefam in the metaverse, discussing its development from humble beginnings to becoming a premier entity in virtual environments for Gen Z and Alpha generations. Joe shares his extensive experience in graphic design and leadership roles at major companies before venturing into the metaverse through Gamefam. The conversation highlights strategic partnerships, the critical role of live operations, and the growing importance of brands in virtual spaces. Insights into Gamefam's innovative approaches and future ambitions in the evolving gaming landscape are discussed, showcasing how they are shaping new entertainment paradigms.

• Joe’s extensive background in gaming and pop culture
• The origin and rapid growth of Gamefam as a leader in the metaverse media space
• Insights into Gamefam's strategies for brand partnerships and intellectual property (IP) integrations within Roblox
• The role of live operations in maintaining dynamic and engaging gaming environments
• Joe's perspective on future trends in the metaverse and user-generated content (UGC) platforms
• Gamefam's approach to monetization and advertising within gaming platforms
• Discussion on the potential of UGC platforms to revolutionize entertainment
• The challenges and strategies of integrating traditional gaming elements into the metaverse
• Joe's vision for Gamefam's role in the future of digital and interactive media
• The technical and creative aspects of developing games in the metaverse

AI, AI, AI, oh my! This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous discuss all things Artificial Intelligence, from generative AI music creation to AI wearables.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

• Is generative AI changing music creation?
• Thoughts on the Humane AI Pin

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

On this episode of FYI, ARK Multiomics analyst Nemo Marjanovic sits down with Professor George Church, a renowned geneticist and entrepreneur from Harvard. They discuss the evolution of genomic sequencing technologies, the intersection of genomics and blockchain for privacy, and the fascinating potential of DNA for data storage. They delve into multiomic approaches for enhanced biological understanding, the transformative impact of artificial intelligence (AI) in medical advancements, and George's groundbreaking research on aging.

• Evolution of genomic sequencing: from short to long reads
• Balancing privacy with blockchain in genomics
• The potential of DNA as a universal data storage medium
• Advancements and challenges in writing DNA for data encoding
• The growing importance and integration of multiomic approaches
• How AI and high-throughput screening revolutionize drug discovery
• Insights into startups from George's lab leveraging machine learning and multiomics
• Revolutionary research on aging: targeting multiple pathways simultaneously
• The concept of protective gene therapies against all viruses
• Emerging technologies in genome synthesis and developmental biology

Are we at a precipice for nuclear energy development? This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous are joined by Autonomous Tech & Robotics Research Associate Daniel Maguire to discuss energy development and the regulations that are plaguing it, as well as recent shifts in the EV industry.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

• Regulations are slowing nuclear energy development
• The EV landscape is changing

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

Since inception, ARK has researched and published thoughts on the cryptocurrency ecosystem within Big Ideas and through articles, whitepapers, monthly Bitcoin reports and podcasts. Now, in coordination with Bitcoin Park, ARK is pleased to introduce a monthly conversation with leaders in the Bitcoin space, to discuss everything happening in the rapidly-changing and still nascent Bitcoin ecosystem. Published through the For Your innovation podcast channels, this monthly series aims to be informative and enlightening, including experts with diverse viewpoints.

Guests on this month’s Bitcoin Brainstorm include:

Max Guise: Bitcoin Wallet Lead, Block

Tyler Campbell: VP, Custody Support, Unchained

Rob Hamilton: Co-Founder and CEO, Anchor Watch

Rick Schonberg: Head of Custody, Foundations and Trading, Coinbase

NVK: CEO, Coinkite

Yassine Elmandjra: Director of Digital Assets, ARK Invest

Cathie Wood: Founder, CEO and CIO, ARK Invest

Rod Roudi: Co-Founder, Bitcoin Park

00:01:00 Rod introduces the Bitcoin Brainstorm and hands over the floor to each of our fantastic guests

00:12:48 Bitcoin custody represents a significant paradigm shift in how people control their assets

00:16:36 Bitcoin as an open source software has embedded immutable property rights

00:24:53 How is Coinbase navigating the spectrum of custody from self-directed users to institutional players?

00:31:19 Why might multisig, or multisignature, be important for bitcoin custody?

00:37:00 Why bitcoin is not just digital gold, but it is also programmable money

00:46:39 NVK gives a brief overview of bitcoin transaction fees

00:54:39 What are some of the regulatory and compliance barriers that custody providers are facing?

01:00:45 The bifurcation in bitcoin between the self-sovereign users of bitcoin and the more regulated portions of the industry

01:04:11 Countries are now offering tax relief to attract early investors in bitcoin that have significant gains on their digital assets

01:06:44 What does bitcoin custody look like in the next 10 years?

Links Mentioned in this Episode:

• ARK Invest x Coinbase 2017 report: https://ark-invest.com/white-papers/bitcoin-a-new-asset-class-white-paper
• Learn more about Bitcoin Park: bitcoinpark.com
• Search “Bitcoin Park” in your favorite podcasting app and subscribe: https://podcasts.apple.com/us/podcast/bitcoin-park/id1646515985

On this episode, CEO and CIO Cathie Wood and Chief Investment Strategist Charlie Roberts sit down with entrepreneur Peter Diamandis to explore the forefront of healthcare innovation, artificial intelligence (AI), and the evolving role of digital assets like bitcoin. Diamandis, known for his contributions to space exploration, longevity, and breakthrough technologies, shares his insights on extending the health span, the transformative potential of genome sequencing, and the convergence of AI and robotics in shaping our future. With a keen eye on the financial markets and investment trends, he also delves into the resurgence of bitcoin and its positioning as a foundational layer of the new wave of money. Join us as Peter offers a compelling look at why he believes the future is brighter than we think, underscored by the rapid pace of innovation and the opportunities it presents for a healthier, wealthier, and more technologically advanced world.

• Differentiating healthcare from sick care and the focus on health span extension
• The significance of genome sequencing and editing in longevity and health
• Peter Diamandis' journey in longevity, mentioning various technological advances
• The potential and implications of AI, robotics, and their convergence in future technologies
• Discussion on the financial markets, investment trends, and the impact of biotech
• Insights into Bitcoin's resurgence and its role as a digital financial layer
• The debate on the pace of AI development and ethical considerations
• Future predictions for AI applications and the transformative potential of Bitcoin
• Reflections on the importance of investing in innovation and the future's technological landscape

Are we at a pivot point for the gaming industry? This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous are joined by Next Generation Internet Director of Research Frank Downing to discuss the recent NVIDIA announcements as well as shifts in the gaming industry.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

• NVIDIA announces exciting new AI related products
• Gaming may be having it's "YouTube moment"

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

On this episode of FYI, hosts Nemo Marjanovic and Charles Roberts speak with Professor Dr. Michael Snyder, a leading figure in genomics and personalized medicine. The discussion traverses Snyder's work in genomics, systems biology, and the utilization of wearables for health monitoring. Professor Snyder outlines the potential of comprehensive multiomics analysis and artificial intelligence (AI) in predicting and preventing diseases, emphasizing the integration of lifestyle modifications and technology in extending human longevity. The conversation also covers the challenges and future directions of personalized medicine, offering insights into remote monitoring, longitudinal health tracking, and the critical role of data in transforming healthcare from reactive to proactive.

• Professor Snyder's journey into genomics and the inception of systems biology
• Genomics in medicine: predictive and preventive care
• The role of AI and machine learning (ML) in unraveling complex genetic diseases
• Leveraging wearables for continuous health monitoring and disease prediction
• The importance of longitudinal data in understanding individual health trajectories
• Remote monitoring and micro-sampling: the future of healthcare
• Impact of lifestyle choices on health and disease prevention
• The potential of the human cell atlas and spatial methods in pathology
• Challenges of integrating comprehensive omics data into clinical practice
• The vision for a future where healthcare is personalized, predictive, and preventive

We are one step closer to Mars! This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous are joined by ARK Research Associate Lorenzo Valente to discuss Ethereum's new Dencun upgrade as well as the recent launch of the SpaceX Starship.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

• Ethereum's Dencun upgrade
• SpaceX Starship launch

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

On this episode of "For Your Innovation," we engage with Don Burnette, founder and CEO of Kodiak Robotics, to explore their journey and aspirations of autonomous trucking. With insights into Kodiak's unique approach to overcoming the industry's challenges, the episode delves into the technological advancements and strategic partnerships that propel the company forward. Emphasizing proprietary data's pivotal role and innovative strategies for safety and redundancy, the conversation sheds light on how Kodiak is navigating the future of transportation. This episode offers a glimpse into the readiness of autonomous trucking technology for deployment, potentially starting a new era of efficiency and safety on the roads.

"Our trucks can drive almost 24/7, whereas manually driven trucks are limited by hours of service. So, each driver is limited to about 11 hours per day. But on average, trucks are only moving in a useful way for about seven hours per day. So, the trucks are very underutilized today and we can nearly triple that asset utilization, which allows the companies to effectively triple their revenues. For the same number of assets, right?" - @don_burnette

• Introduction to Don Burnette and Kodiak Robotics' mission in autonomous trucking
• The evolution of Don's career from Google to founding Kodiak Robotics
• Discussion on the importance of proprietary data in advancing autonomous trucking
• Kodiak's approach to real-time perception over traditional mapping for navigation
• Highlighting the significance of Kodiak's 2.5 million miles of driverless data
• The role of partnerships in developing and deploying autonomous trucking solutions
• The strategic advantage of not relying on predefined maps for route navigation
• Kodiak's innovative strategies for safety and redundancy in driverless technology
• The impact of AI advancements on Kodiak's autonomous driving technology
• Future outlook and the readiness of autonomous trucking technology for deployment

Rivian has resurrected Steve Job's "One More Thing..." This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous discuss the launch of not one, not two, but three new Rivian's as well as Starlink's new direct-to-device service.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

Key Points From This Episode:

• Rivian Launches Three New Vehicles
• Starlink Has a New Direct-to-device Service

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

This episode of FYI features a compelling conversation with former NBA stars turned tech investors Andre Iguodala and Evan Turner. Hosted by ARK CEO and CIO Cathie Wood, the discussion traverses their journey from the basketball court to the boardroom, shedding light on their transition into venture capital. Both guests share insights into the importance of financial literacy, leveraging their sports platform to influence and engage in tech startups, and the significance of mentorship and networking in navigating the venture capital space. Their stories reflect a broader narrative on the convergence of sports, innovation, and entrepreneurship, highlighting how athletes increasingly become pivotal figures in the tech ecosystem.

• Early curiosity and intellectual pursuits
• Transitioning from competitive teammates to lifelong friends and business partners
• Challenges and stereotypes faced as young professional athletes
• The journey from the basketball court to the venture capital arena
• The significance of mentorship and financial literacy in their careers
• Emphasis on community impact and responsible investment
• Exploration of tech startups and the value of education in their ventures
• The role of networking in accessing venture capital opportunities
• The importance of leveraging their platform for tech engagement
• Reflections on personal growth and the impact of their investments

Who will win the AI race? This week, Nick and Sam are joined by ARK's Chief Futurist, Brett Winton, as they review current competitors within the AI space and expose some downsides and advantages to various platforms.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

• AI is set to dramatically boost worker productivity
• A discussion around Klarna's new assistant
• Google faces challenges innovating in the AI space

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

Since inception, ARK has researched and published thoughts on the cryptocurrency ecosystem within Big Ideas and through articles, whitepapers, monthly Bitcoin reports and podcasts. Now, in coordination with Bitcoin Park, ARK is pleased to introduce a monthly conversation with leaders in the Bitcoin space, to discuss everything happening in the rapidly-changing and still nascent Bitcoin ecosystem. Published through the For Your innovation podcast channels, this monthly series aims to be informative and enlightening, including experts with diverse viewpoints.

Guests on this month’s Bitcoin Brainstorm include:

Luke Dashjr: Founder and CTO, OCEAN, Core Developer

Trey Kelly: Founder, Chairman and CEO, GRIID

Steve Barbour: Founder and CEO, Upstream Data

John Stefanopolous: Founder, FutureBit

Benjamin Yi: Executive Chairman, Riot Platforms

Yassine Elmandjra: Director of Digital Assets, ARK Invest

Cathie Wood: Founder, CEO and CIO, ARK Invest

Rod Roudi: Co-Founder, Bitcoin Park

00:01:00 Rod introduces the Bitcoin Brainstorm and hands over the floor to each of our fantastic guests

00:08:41 What makes bitcoin so unique and what makes bitcoin mining so essential?

00:18:30 What are mining pools and why do they exist in the first place?

00:27:15 The pace of innovation in bitcoin and bitcoin mining, especially in regard to energy consumption

00:33:54 Why bitcoin mining is at the convergence between energy and money

00:40:49 How bitcoin mining is more about optimizing energy use than it is about earning bitcoin

00:47:21 Exploring why so many questions are asked about the energy consumption of bitcoin

00:54:29 Bitcoin mining may be able to decrease the end balances that energy rate payers are charged

00:59:33 What does the future of bitcoin mining look like?

01:08:01 Bitcoin mining represents massive convergences across industries and the digital and physical worlds

Links Mentioned in this Episode:

Learn more about Bitcoin Park: bitcoinpark.com

In this episode of For Your Innovation, Ali Urman chats with Ben Lamm, CEO of Colossal, about the groundbreaking venture aimed at resurrecting extinct species, starting with the woolly mammoth. Lamm shares insights into his journey from tech to biotech, highlighting the fusion of artificial intelligence (AI), automation, and genetic editing to challenge the boundaries of science and conservation. He delves into the ecological and scientific ramifications of bringing back extinct species and addresses the technological, regulatory, and ethical challenges faced along the way. Join us as we explore how Colossal is not just redefining de-extinction but also contributing significantly to conservation efforts and genetic research.

• Ben Lamm discusses transitioning from tech entrepreneurship to biotech with Colossal
• Colossal aims to bring the woolly mammoth back from extinction, inspired by George Church
• Convergence of AI, automation, and biotech in de-extinction and conservation efforts
• FormBio: A spin-off providing AI tools for cell and gene therapy, aiding in biotech research
• The role of computational biology and gene editing in reconstructing extinct species
• The potential ecological benefits of reintroducing extinct species like the woolly mammoth
• Colossal's involvement in conservation efforts and genetic rescue, beyond de-extinction
• Challenges and advancements in xenotransplantation and disease resistance in wildlife
• Regulatory considerations for biotech innovations in de-extinction and gene editing
• Lamm's admiration for innovative minds like George Church, breaking barriers in science

Bitcoin has some haters. This week, Associate Portfolio Manager Nick Grous is joined by Research Analyst Andrew Kim and Research Associate David Puell as they discuss Walmart's plans within the connected TV space and the European Central Bank's criticism of Bitcoin.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

• Walmart Plans to acquire Vizio
• The European Central Bank criticizes Bitcoin

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

In this episode of For Your Innovation, ARK CEO and CIO Cathie Wood and Fintech Analyst Andrew Kim engage with Anthony Noto, CEO of SoFi, to dive deeply into SoFi's evolution from a student loan refinancing entity to a comprehensive financial services conglomerate. They explore the pivotal role of technology in shaping financial experiences, SoFi's strategic growth initiatives, and its mission to democratize financial services. They illuminate SoFi's innovative approach to integrating services like investment, loan, and savings products on a single platform, emphasizing the vision to empower individuals financially.

• Evolution of financial markets and the impact of technology
• SoFi's growth from a student loan company to a comprehensive financial platform
• Role of artificial intelligence (AI) and machine learning (ML) in enhancing customer service and fraud detection
• SoFi's approach to creating a diversified financial services ecosystem
• The importance of building trust and brand recognition in the financial sector
• Launch of alternative investment vehicles on SoFi Invest
• Exploring why Anthony Noto knew he needed to purchase the rights to a stadium
• The concept of democratization in financial services and its future implications
• Galileo's role in SoFi's ecosystem as a technology platform for banking services
• Anthony Noto's reflections on SoFi's journey and future innovation opportunities

Replay everything you have ever seen, said, or heard with RewindAI. This week, Associate Portfolio Manager Nick Grous is joined by Research Analyst Andrew Kim, and together they interview RewindAI CEO Dan Siroker. In the interview, they discuss RewindAI's unique mission to overcome the limitations of the human mind, and to redefine artificial intelligence assistants.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

• RewindAI

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

For more on RewindAI: https://www.rewind.ai/

On this week's edition of FYI we are featuring the February 2, 2024 edition of In The Know. On this edition, ARK CEO and CIO Cathie Wood is joined by ARK Chief Futurist, Brett Winton. Together, they discuss technological convergence, artificial intelligence, and give a sneak peak into this year's Big Ideas Report, which you can download here: https://ark-invest.com/big-ideas-2024

This month we’re again responding to a few requests by supplementing this episode with charts and data to help illustrate ARK’s perspective on and outlook for the global economy.

As always, Cathie discusses fiscal policy, monetary policy, market signals, economic indicators, and innovation. We hope you find this monthly series useful, especially during periods of heightened volatility. Stay Healthy. Stay Innovative.

• Converging Technologies Are Generating A Historic Technological Wave
• AI Serves As The Central Technology Catalyst
• AI Is Accelerating Faster Than Forecasters Anticipated
• Discontinuous Changes In Macroeconomic Growth Are The Norm, Thanks To Technology
• Technological Innovation Could Be Disruptive Enough To Dominate Global Equity Market Capitalizations
• The Cost Of Authoring The Written Word Has Collapsed
• Monetary Policy
• M2 Money Supply vs. CPI: Year-over-Year
• Federal Funds Rate vs. YoY Headline CPI
• Real Federal Funds Target Rate
• Yield Curve 10 Year Treasury Yield Minus 2 Year
• New Tenant Rent Index
• WCI Composite Container Freight Benchmark Rate
• Global Supply Chain Pressure Index (GSCPI)
• Bloomberg Commodity Index
• Metals/Gold Ratio vs. US 10 Year Treasury
• Bitcoin To Gold Ratio (Log)
• Investment Grade and High Yield Index Credit Default Swaps

$7 trillion for an AI chip? This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous are joined by Chief Futurist Brett Winton and Multi-Omics Analyst Ali Urman. Together they discuss Sam Altman's plan to raise $7 trillion for an AI chip, and drug pricing.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

Key Points From This Episode:

• $7 Trillion AI Chip
• Fear and Regulation in AI
• Drug Pricing

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

A full review of the Apple Vision Pro! This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous discuss the new Apple Vision Pro, Meta's VR and AI ambitions and Tesla in ARK's Big Ideas 2024.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

Key Points From This Episode:

• Apple Vision Pro
• Meta's VR and AI
• Tesla in Big Ideas 2024

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

Since inception, ARK has researched and published thoughts on the cryptocurrency ecosystem within Big Ideas and through articles, whitepapers, monthly Bitcoin reports and podcasts. Now, in coordination with Bitcoin Park, ARK is pleased to introduce a monthly conversation with leaders in the Bitcoin space, to discuss everything happening in the rapidly-changing and still nascent Bitcoin ecosystem. Published through the For Your innovation podcast channels, this monthly series aims to be informative and enlightening, including experts with diverse viewpoints.

Guests on this month’s Bitcoin Brainstorm include:

Senator Cynthia Lummis: Senator, Wyoming

Perianne Boring: CEO and Founder, Chamber of Digital Commerce

Eric Balchunas: Senior ETF Analyst, Bloomberg

Alex Thorn: Head of Research, Galaxy Digital

Ophelia Snyder: Co-Founder and President, 21Shares

Yassine Elmandjra: Director of Digital Assets, ARK Invest

Cathie Wood: Founder, CEO and CIO, ARK Invest

Rod Roudi: Co-Founder, Bitcoin Park

Key Points From This Episode:

00:00:00 Rod introduces the Bitcoin Brainstorm and hands over the floor to each of our fantastic guests

00:05:01 Cathie sets the stage for what led to the eventual approval of the bitcoin ETF

00:10:34 Why a bitcoin ETF can be a bridge between the traditional financial world and the world of innovation and digital assets

00:17:30 What made the launch of bitcoin ETFs different from any other ETF launch in history

00:19:59 Will the launch of bitcoin ETFs lead to fast tracking policy around digital assets in general?

00:29:11 Senator Lummis outlines the impact Sam Bankman-Fried is still having on digital asset legislation in the Senate

00:38:51 The impact education makes on the cryptocurrency industry as a whole

00:45:20 Why did so many assets flow to bitcoin ETFs in the first few weeks, when bitcoin has existed since 2008

00:55:32 What are some of the trade-offs of using a bitcoin ETF to gain exposure to the asset rather than bitcoin itself

00:57:03 Comparing the impact the Federal Reserve can have on the equity market to how decentralized bitcoin and the Bitcoin network is

01:06:00 Why has bitcoin been so resilient in the face of controversy

01:10:30 How popular will bitcoin ETFs end up being?

Links Mentioned in this Episode:

Learn more about Bitcoin Park: bitcoinpark.com

Parker Lewis book, Gradually Then Suddenly: https://academy.saifedean.com/product/gradually-then-suddenly-hardcover/

Learn more about Senator Cynthia Lummis: https://www.lummis.senate.gov/

On today’s episode of FYI, ARK CEO and CIO Cathie Wood and ARK Advisor Angie Dalton interview Commissioner Caroline Pham from the Commodity Futures Trading Commission (CFTC). The episode explores the intricacies of digital asset regulation and the CFTC's role in overseeing derivatives markets. Commissioner Pham shares her extensive background in both the public and private sectors, touching on the evolution of financial regulations, crypto's impact on traditional markets, and the potential of blockchain technology. Key discussions include the CFTC's bipartisan structure, its approach to crypto regulation, and insights into the interplay between technology, finance, and regulation. This episode provides a unique perspective on the balance between innovation and regulation in the rapidly evolving digital asset landscape.

“There's no good version of AI, nor evil. It's just technology, and why not study it and use it and see if you can deploy it if it's going to make sense for you and your clients, your stakeholders, and your investors.” – Commissioner Caroline Pham

• Introduction of Commissioner Caroline Pham and her role at the CFTC.
• Pham's disclaimer clarifying her personal views do not represent the CFTC.
• Overview of the CFTC's structure and comparison with the SEC.
• Discussion of the derivatives market and its vast scope.
• Pham's background, including her work during the financial crisis and with Dodd-Frank Act.
• Insight into the regulatory treatment of Bitcoin and other cryptocurrencies.
• Pham's career journey from the public to the private sector, focusing on financial regulation and compliance.
• Exploration of blockchain technology's potential in various sectors beyond finance.
• Commissioner Pham highlights the integration of blockchain technology in gaming, focusing on its potential to create new types of in-game economies and digital interactions.
• The importance of understanding the risks and regulations associated with digital assets.
• Final thoughts on the future of regulation in the digital asset space.

Let's unpack the latest Tesla Earnings! This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous are joined by Director of Investment Analysis and Institutional Research Tasha Keeney, CFA. Together they discuss Tesla Earnings, and their outlook for the company.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

• Tesla Earnings

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

Addressing common bitcoin myths! This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous are joined by Director of Digital Assets Yassine Elmandjra. Together they discuss some of the common bitcoin myths circulating, especially after Jamie Dimon's comments at Davos and the bitcoin ETF approval.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

• Debunking bitcoin myths
• Mr Beast's revenue on X

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

Did the Apple Vision Pro flop? This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous discuss Rabbit R1, Apple vs. Epic Games court case, and a potential Apple Vision Pro Flop.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

• Rabbit R1
• Apple Vs. Epic Games
• Vision Pro Flop?

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

On this episode of FYI, we dive into the intricacies of crypto infrastructure with Konstantin Richter, the CEO and founder of Blockdaemon, and Chris Sharp, Blockdaemon's Chief Technology Officer (CTO). They cover Blockdaemon's journey, highlighting the challenges and opportunities in the early crypto market. Konstantin and Chris share insights into the evolving belief in cryptocurrencies like Bitcoin and Ethereum, reflecting on their growing acceptance in mainstream finance. They then discuss developing Blockdaemon's product suite, transitioning from basic node operations to sophisticated services like staking and Application Programming Interface (API) integrations. The conversation explores the importance of decentralization and multi-party computation in ensuring crypto security, emphasizing Blockdaemon's commitment to robust and reliable infrastructure. Finally, they touch on the diverse regulatory landscapes in Asia, Europe, and the U.S., exploring their impact on the crypto industry and the future possibilities in this rapidly evolving sector.

"Not a lot of people saw the benefit of like, ‘Hey, why do I want to pay someone to do something? I can just download some open-source software and run on the server myself’. Even if it's janky, the requirements in the network and expectation around crypto was low enough that people weren't like, ‘Hey, I need to make sure there's instant settlement that my transaction goes through.’” - Konstantin Richter

• Origin of Blockdaemon
• Unique challenges in maintaining and operating crypto infrastructure
• The importance of multi-party computation in crypto security
• The evolving belief and adoption of Bitcoin and Ethereum
• Decentralization and resistance to censorship in crypto
• Blockdaemon's impact on crypto infrastructure
• Acquiring a wallet company, Sepior, and its implications
• Blockdaemon’s product evolution
• The importance of reliability and distributed computing in crypto networks
• Perspectives on the evolution of the crypto market

On today’s episode of FYI we will be featuring the most recent In The Know with Cathie Wood, a monthly video series that covers fiscal policy, monetary policy, market signals, economic indicators, and innovation. On this specific In The Know, Cathie Wood is joined by ARK Director of Digital Assets, Yassine Elmandjra. Together, they discuss ARK's history with bitcoin, bitcoin spot ETF approval, the upcoming halving, and why we believe bitcoin is both a risk-on and risk-off asset.

Key Points From This Episode

• ARK's history with bitcoin
• Bitcoin Spot ETF Approval
• Bitcoin halving
• Why we believe bitcoin is both a risk-on and risk-off asset
• Fiscal policy
• Monetary policy
• Market signals
• Economic indicators
• Innovation updates

The convergence among technologies: robotics and artificial intelligence. This week, Autonomous Technology and Robotics Director of Research Sam Korus and Chief Futurist Brett Winton discuss the rapidly evolving robotics landscape and how AI has greatly improved robotic performance.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

• The convergence of AI and robotics

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

Since inception, ARK has researched and published thoughts on the cryptocurrency ecosystem within Big Ideas and through articles, whitepapers, monthly Bitcoin reports and podcasts. Now, in coordination with Bitcoin Park, ARK is pleased to introduce a monthly conversation with leaders in the Bitcoin space, to discuss everything happening in the rapidly-changing and still nascent Bitcoin ecosystem. Published through the For Your innovation podcast channels, this monthly series aims to be informative and enlightening, including experts with diverse viewpoints.

Guests on this month’s Bitcoin Brainstorm include:

Parker Lewis: Head of Business Development, Zaprite

Lyn Alden: Founder of Lyn Alden Investment Strategy

Ryan Gentry: Director of Business Development, Lightning Labs

Preston Pysh: Show Host and Co-Founder, The Investor’s Podcast Network and General Partner, Ego Death Capital

Lucas Nuzzi: Head of Research and Development, CoinMetrics

Yassine Elmandjra: Director of Digital Assets, ARK Invest

Cathie Wood: Founder, CEO and CIO, ARK Invest

Rod Roudi: Co-Founder, Bitcoin Park

Key Points From This Episode:

00:00:16 When episode actually starts

00:00:00 Rod Roudi introduces the Bitcoin Brainstorm and hands over the floor to each of our fantastic guests

00:04:30 Rod introduces one of the biggest stories in bitcoin: the potential approval of a spot bitcoin ETF

00:16:54 The group considers bitcoin as an asset in a diversified portfolio

00:26:35 What is the long term viability of bitcoin as a store of value, or as a currency?

00:34:56 How the infrastructure around bitcoin has improved in recent years

00:43:34 The volume on the lightning network grew 12x in 2023

00:51:11 Comparing Bitcoin network transaction volume to large credit card networks

01:01:01 How bitcoin can be utilized as a decentralized Venmo

01:04:34 What our guests are most excited about in the world of bitcoin heading into 2024

Important Links From This Episode:

· Lyn Alden’s Book, Broken Money: https://www.lynalden.com/broken-money/

· Parker Lewis’ Book, Gradually Then Suddenly: https://graduallythensuddenly.xyz/

· Clark Moody Dashboard: Halving date tracking towards is April 19, 2024: https://bitcoin.clarkmoody.com/dashboard/

· River Lightning report: https://blog.river.com/the-lightning-network-in-2023/

· Preston Pysh’s 2% bitcoin portfolio reference: https://twitter.com/PrestonPysh/status/1349385684071677952

· Nashville Energy & Mining Summit at Bitcoin Park: bitcoinpark.com/mining

· Learn more about Bitcoin Park: bitcoinpark.com

This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous reflect on 2023. Nick and Sam discuss each of their favorite stories in disruptive innovation this year as we close out 2023.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

Key Points From This Episode:

• Nick's favorite consumer technology device
• Sam's expectations for SpaceX in 2024

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

On today’s episode, Director of Next Generation Internet Research Frank Downing and Chief Futurist Brett Winton are speaking with Cyrus Khajvandi and Dan Rasmuson, the brains behind the artificial intelligence (AI) startup Humata. Backed by OpenAI's foundation-aware technology, Humata seeks to transform how we interact with the written word in the workplace. We'll delve into the tech, highlight the unique challenges it addresses, and discuss the broader impact on productivity. From navigating ambiguous language to fast-tracking the knowledge-transfer process, this episode explores how advanced AI models pave the way for a more intelligent and intuitive approach to handling organizational data, with the prime example of Humata's success. Stay with us as we cut through the AI jargon and learn how AI-supported knowledge transfer reshapes enterprise workflows.

Key Points From This Episode:

• The origin of Humata
• Improving AI to verify truth in decision-making processes
• Streamlining knowledge-based tasks beyond human capacity
• How AI aids in rapidly transferring expertise across organizations
• Ensuring data privacy with end-to-end encryption and user control
• How Humata aids in managing the surge of organizational writing, ensuring human oversight

Epic Games won a court case against Google. This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous are joined by Andrew Kim, ARK Analyst. Together they discuss a the Epic Games vs. Google court case.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

Key Points From This Episode:

• Epic Games vs. Google

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

In today's episode, Research Associate Andrew Kim has an exciting conversation with Samee Zahid, the director of engineering at Chipper Cash. We dive into how Chipper Cash aims to revolutionize the financial ecosystem, emphasizing its recently launched product, Chipper ID. Chipper ID is an artificial intelligence-driven know your customer (KYC) verification platform that includes user verification, document verification, government database integration, and watch list screening. We'll talk about why Chipper Cash decided to build its own KYC solution and how it's not only cost-effective but can potentially shape the fintech landscape in Africa. Plus, we explore the intricacies of identity verification, the significance of data security, and their recent partnership with Visa for card issuance.

Key Points From This Episode:

- Overview of Samee’s background

- Fintech app Chipper Cash expands with AI-driven KYC platform

- How Chipper Cash's KYC platform reduces fintechs' customer acquisition costs significantly

- Tackling account fraud in Africa with real-time face-matching technology

- Chipper ID pairs on-device liveness checks with server verification for user authenticity

- Leveraging synthetic data for testing

- Why Chipper ID's focus on proprietary data and human insight remains vital in a rapidly evolving tech industry

- Balancing costs and specificity over broad models optimizes tech use

- Streamlining document checks and user verification improves fintech security

- How Screen Sentinel aids compliance teams in sanction screening and reduces false positives

- Integrating payment and ID verification, enabling secure one-click transactions

- Chipper's near-term catalysts to focus on

The FDA Has Approved America’s First Gene-Editing Therapy—Casgevy. This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous are joined by Ali Urman, ARK Analyst. Together they discuss a Crispr gene editing breakthrough. Then, Sam and Nick discuss Google's Gemini and Twitter's Grok

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

Key Points From This Episode:

• Crispr Approval
• Gemini
• Grok

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

Since inception, ARK has researched and published thoughts on the cryptocurrency ecosystem within Big Ideas and through articles, whitepapers, monthly Bitcoin reports and podcasts. Now, in coordination with Bitcoin Park, ARK is pleased to introduce a monthly conversation with leaders in the Bitcoin space, to discuss everything happening in the rapidly-changing and still nascent Bitcoin ecosystem. Published through the For Your innovation podcast channels, this monthly series aims to be informative and enlightening, including experts with diverse viewpoints.

Guests on this month’s Bitcoin Brainstorm include:

Conor Okus: Product Manager, Spiral

Steve Myers: Contributor, BitcoinDevKit (BDK) Project

Lisa Neigut (NiftyNei): Co-founder, Chief Instruction Officer, Base58

Rockstar Dev: Core Contributor, BTCPay Server

Mike Schmidt: Executive Director, Brink Technology

Yassine Elmandjra: Director of Digital Assets, ARK Invest

Cathie Wood: Founder, CEO and CIO, ARK Invest

Rod Roudi: Co-Founder, Bitcoin Park

00:00:00 Rod Roudi introduces the Bitcoin Brainstorm and hands over the floor to each of our fantastic guests

00:12:05 Rod asks Cathie to explain why she and ARK are interested in Bitcoin

00:17:57 Why work in an open-source environment rather than closed source?

00:29:55 Mike explains why it is important for Bitcoin’s code base to be open-source

00:33:13 How Bitcoin has a unique funding model that relies on community support and how open source in Bitcoin has evolved

00:43:09 Why it is challenging to find developers to work on Bitcoin and how Base58 is working to solve this problem

00:47:36 Lisa explains how she uses live action role play to teach Bitcoin development

00:53:36 How gamification can help kids learn how Bitcoin works on a basic level

00:58:41 What is the best way to support open-source development and Bitcoin projects?

01:10:49 Conor explains the Open Source design community

Important Links Mentioned In This Episode:

· https://twitter.com/BtcpayServer/status/1704874856452366696

· https://twitter.com/BtcpayServer/status/1671897255346053120

· https://www.youtube.com/watch?v=q7xJMno_B3U

· https://spiral.xyz/blog/a-framework-for-sustainable-open-source-bitcoin-development/

· Who is Bitcoin? https://www.youtube.com/watch?v=DvHUOr8ruMw

· Bitcoin Design Community: bitcoin.design

Should you say please to your artificial intelligence companion? This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous are joined by Brett Winton, ARK's Chief Futurist. Together they discuss Cybertruck and AI model manners.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

Key Points From This Episode:

• Cybertruck
• AI Model Manners

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

Today, Sam Korus sits down with Brett Adcock, a veteran in the technology industry who has devoted his career to building cutting-edge tech companies. Brett has been an integral part of technology companies for over two decades, more recently steering his focus toward creating affordable and practical humanoid robots. With his company Figure AI, Brett is giving life to robots that can easily blend into commercial sectors like manufacturing, retail, and warehouses. His plan involves developing an artificial intelligence-centric (AI-centric) robotic design that would not just decrease dependence on humans for tedious tasks but also make these robots more reliable. Our guest also shares his valuable insights on the challenges faced in this venture and the ambitious timeline for seeing these robots in action.

Key Points From This Episode:

• Overview of Brett’s background
• Advances in AI and robotics
• How robots tackling simple, repetitive tasks can address labor shortages in warehouses
• Unexpected challenges of designing entire robots from scratch
• How advancements and strategic data collection propel AI and robotics to new heights
• Robotic automation promises significant cost reductions over time
• How robotics as a service could revolutionize affordability and functionality in automation
• Robots could match human ability in certain jobs this decade, with home use by its end

More founders leaving companies? This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous are joined by Tasha Keeney, CFA, ARK’s Director of Investment Analysis and Institutional Strategies. Together they discuss Cruise updates and the potential of sodium ion batteries.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

• Cruise CEO Steps Down
• Sodium Ion Batteries

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

On today’s episode of FYI, Florian Berberich and Thomas Hartmann-Boyce engage with prominent entrepreneur and investor Frank Thelen. We put the spotlight on the state of disruptive innovation and technology in Europe, with a focused gaze on Frank’s home country, Germany. Thelen, the founder of Freigeist Capital and 10xDNA, shares his insights into the challenges that European and German companies face in keeping pace with the United States’ progress. The episode traverses an assortment of subjects, ranging from the future of the German car industry to artificial intelligence (AI’s) potential and its impact on the precision agriculture sector. Thelen’s significant influence in Germany’s version of Shark Tank draws attention to the importance of entrepreneurship and its potential for generating revenue. All this and more, on FYI.

• Overview of Frank’s background
• Adapting to exponential tech growth beyond linear success
• How Europe’s innovation merges AI, 3D printing, internet of things (IoT), and blockchain
• Why Europe’s innovation potential needs more investment to keep pace globally
• German caution slows fintech adoption; mindset shift needed for innovation
• Europe may lead in robotics and biotech, leveraging manufacturing excellence
• Why Europe needs entrepreneurial stars to inspire innovation and drive talent
• Germany’s potential in seed-stage tech stifled by a lack of late-stage funding
• European interest in innovation and thematic investments is growing
• “Shark Tank” Germany experience shows entrepreneurship’s broad appeal and success
• Sustainable food innovation is necessary and ripe for technological investment

What’s going on with OpenAI? This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous are joined by Brett Winton, ARK’s Chief Futurist. Together they discuss Sam Altman’s removal as CEO of OpenAI and SpaceX’s Starship.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

• OpenAI
• SpaceX

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

On today’s episode, Research Associate Andrew Kim interviews Joris Henson, who pulls back the curtain on Deutsche Bank’s approach to open banking, revealing valuable insights into the evolution of Application Programming Interfaces (APIs) and giving us a taste of what the future might hold for this trailblazing sector. Joris will share stories about incredibly creative approaches he’s taken, like data cocktail bars and design thinking workshops, to identify needs and generate ideas. We’ll take a closer look at the Open Finance Framework in the European Union, contrast Meta’s reception against open banking, and ponder the potential impact of generative artificial intelligence (AI) in finance. Plus, Joris busts open the proverbial black box of airline points to reveal how AI could simplify complexities and discusses product innovation at Deutsche Bank, specifically DB Smart Access.

• Overview of Deutsche Bank
• API vision evolution and open banking opportunities before and after Payment Services Directive Two (PSD2)
• How understanding niche products and successful partnerships accelerated open banking
• How Third-party data needs grew from transaction details to comprehensive finance APIs
• Future fintech may reduce data moats but emphasize innovative product development
• Open banking in Europe prioritizes consent and trust over ad-driven models
• How hackathons and practical demos were key in advancing open banking innovation
• Aggregators gain value by integrating diverse APIs in open banking evolution
• Life-centric products integrate finance with everyday activities like home energy
• Why evolving consumer consent may balance security with convenience for AI use
• AI financial advisors could offer tax and asset management insights affordably
• Investors should watch how banks adapt to open banking and leverage APIs

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous are joined by Eric Berger, the senior space editor at Ars Technica. Together they discuss space, OpenAI developer day and open source artificial intelligence (AI).

• Space
• OpenAI
• Open Source AI

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

On today’s episode, ARK Director of Digital Assets Yassine Elmandjra sits down with special guests Ophelia Snyder, the president and co-founder of 21Shares, and Eliézer Ndinga, the head of research at 21Shares. Together, they dive deep into the world of crypto, education, and the exciting developments happening in the industry. Join us as we explore how 21Shares is bridging traditional finance with crypto, discussing the importance of regulations, the need for specialized research, and the future of this rapidly evolving asset class.

• Overview of 21Shares and why Ophelia founded the company
• How 21Shares aligns with ARK’s open, transparent ethos, simplifying crypto investment access
• Offering exposure to crypto and physical redemption, aiming to bridge crypto investment with secure, accessible infrastructure
• Why the biggest education gap in crypto is discerning true insights from mere news
• Crypto’s transparency is underappreciated; parsing its vast data is key for understanding ecosystem health and potential risks
• Crypto evolution leans towards bottom-up standardization, challenging yet potentially leading to robust, coherent frameworks
• Regulatory clarity for crypto requires effort; initial steps may quickly resolve major issues
• Regulatory evolution is continuous, reflecting history’s dynamic nature
• Why the upcoming market cycle in crypto is expected to differ significantly from past cycles

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Autonomous Technology and Robotics Director of Research Sam Korus is joined Research Associate Andrew Kim. Together they discuss Jack Dorsey’s return to Block, President Biden’s Executive Order on Artificial Intelligence and SpaceX’s Starlink reaching break even.

• Jack Dorsey Returns to Block
• President Biden’s Executive Order on Artificial Intelligence
• Starlink reaches Break Even

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

Since inception, ARK has researched and published thoughts on the cryptocurrency ecosystem within Big Ideas and through articles, whitepapers, monthly Bitcoin reports and podcasts. Now, in coordination with Bitcoin Park, ARK is pleased to introduce a monthly conversation with leaders in the Bitcoin space, to discuss everything happening in the rapidly-changing and still nascent Bitcoin ecosystem. Published through the For Your innovation podcast channels, this monthly series aims to be informative and enlightening, including experts with diverse viewpoints.

Guests on this month’s Bitcoin Brainstorm include:

Alex Leishman: Co-Founder and CEO, River

Graham Krizek: Founder and CEO, Voltage

Des Dickerson: CEO, THUNDR GAMES

Tony Giorgio: Co-Founder and CEO, Mutiny Wallet

Viktor Bunin: Protocol Specialist, Coinbase

Yassine Elmandjra: Director of Digital Assets at ARK Invest

Cathie Wood: Founder, CEO and CIO, ARK Invest

Rod Roudi: Co-Founder, Bitcoin Park

• 00:00:00 Opening and Disclosure
• 00:00:54 Intro with Rod Roudi welcoming our fantastic guests
• 00:05:09 What are some of the most underexplored use cases in Bitcoin?
• 00:14:31 How the use cases for Lightning have matured and why Des chose to build THUNDR GAMES on the Bitcoin network
• 00:17:43 Machine to machine payments as a use case for lightning
• 00:26:53 What do our guests think the first ubiquitous stable coin on Bitcoin will be?
• 00:33:49 Viktor examines some of the ways that decentralized finance (DeFi) can be more practical than Bitcoin
• 00:39:13 Exploring the growth in total developers on Ethereum as compared to Bitcoin, especially when you include lightning developers
• 00:43:32 Why is the dynamic of developers building on Bitcoin different than those who chose to build on Ethereum?
• 00:50:34 Our guests share some of the stories from their clients and users that blew them away
• 00:55:32 How is regulation in the Bitcoin space changing?
• 00:59:41 Our guests provide their opinions on what Bitcoin looks like in 5 years and how anonymity may change in the future?
• 01:09:09 Rod, Viktor and Yassine conclude the episode with some optimism on the future of Bitcoin, pointing out decentralized communities across the country and around the world

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous is joined Director of Investment Analysis & Institutional Strategies Tasha Keeney, CFA. Together they discuss the current state of autonomous vehicles including Cruise, Waymo and Tesla, and Meta’s new Ray Ban sunglasses.

• Cruise Halts Operations
• Meta Ray Ban Glasses Review

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

On today’s episode of FYI, Brett Winton welcomes back Francis Pedraza, the founder of Invisible—a company revolutionizing artificial intelligence (AI) training and data labeling across multiple industries. Forget what you know about traditional AI; we’re diving into a world where human relevance is questioned, and black-box technology can execute complex processes at any scale. Francis and Brett explore the ins and outs of scaling a business, the art of strategic resource allocation, and the future of AI-driven automation. This episode has everything from research and development (R&D) investments to aligning worker incentives for optimum efficiency.

• Overview of Invisible Technologies
• Invisible’s role in a fragmented, specialized tech landscape
• Invisible bullish on AI training, adopts financial discipline to weather market cycles
• Transitioning from R&D to commercial strategies redefines Invisible’s economic model for AI business
• The need for specialized integrators like Invisible over traditional service firms in the AI landscape
• Invisible elevates AI training from mere data labeling to advanced techniques
• Invisible’s human-in-the-loop model adds depth to complex AI training and enablement
• Efficiency gains through Invisible’s alignment of automation and incentives
• The symbiotic relationship between AI training and enablement in Invisible’s model
• Prioritizing profitability over rapid scaling underlines Invisible’s approach to sustainable growth and control
• Balancing rapid growth while preserving company culture in Invisible
• Invisible’s caution towards public markets focuses on long-term control and growth

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous Autonomous Technology and Robotics Director of Research Sam Korus are in studio together this week to discuss Tesla Earnings and Bitcoin.

• Tesla Earnings
• Bitcoin

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

On today’s episode of FYI we will be featuring the most recent In The Know with Cathie Wood, a monthly video series that covers fiscal policy, monetary policy, market signals, economic indicators, and innovation. On this specific In The Know, Cathie walks through charts to help illustrate her points on inflation, interest rates, GDP vs. GDI growth, and why we believe we’re in a rolling recession.

Watch the video version here.

• Fiscal Policy
• US Federal Budget Deficit or Surplus as a Percent of Nominal GDP
• Monetary Policy
• Money Supply (M2) Growth Percent Change Year-over-Year
• 10 Year US Treasury Yield
• 2s-10s Yield Curve Spread
• USD Index (DXY)
• Economic Indicators
• Spot WTI Crude Oil
• Crude Oil Price vs. Gasoline Futures Price
• Gold Price
• Gold Price 5-Year
• Copper Futures Price
• Copper Futures Price 5-Year
• Credit Default Swaps Markit CDX

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous Autonomous Technology and Robotics Director of Research Sam Korus are keeping it short and have just one topic: robots.

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous Autonomous Technology and Robotics Director of Research Sam Korus are joined by ARK Analyst Ali Urman, Research Associate Andrew Kim and Founder and CEO of Eternal Reggie James.

• Intro
• Ozempic
• AI Wearables
• Tesla Price Cuts

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

Since inception, ARK has researched and published thoughts on the cryptocurrency ecosystem within Big Ideas and through articles, whitepapers, monthly Bitcoin reports and podcasts. Now, in coordination with Bitcoin Park, ARK is pleased to introduce a monthly conversation with leaders in the Bitcoin space, to discuss everything happening in the rapidly-changing and still nascent Bitcoin ecosystem. Published through the For Your innovation podcast channels, this monthly series aims to be informative and enlightening, including experts with diverse viewpoints.

Guests on this month’s Bitcoin Brainstorm include:

Alex Gladstein: Chief Strategy Officer, Human Rights Foundation

Jameson Lopp: Co-Founder & CTO, Casa and Creator of http://bitcoin.page, http://lightning.how, http://statoshi.info

Korok Ray: Bitcoin Professor at Texas A&M

Erik Hersman: Co-Founder and CEO of Gridless Compute

Yassine Elmandjra: Crypto Lead at ARK Invest

Dr. Art Laffer: American Economist

Cathie Wood: Founder, CEO and CIO, ARK Invest

Rod Roudi: Co-Founder, Bitcoin Park

• 00:00:00 Intro to Bitcoin Brainstorm episode 3 and our panel of guests from Rod Roudi
• 00:02:17 Yassine sets up the purpose of this month’s episode: to address common misconceptions and pushback around bitcoin
• 00:05:05 Cathie Wood sets up her relationship with Dr. Art Laffer and why
• 00:09:45 Alex lays out some of the most common concerns and pushbacks associated with bitcoin
• 00:11:57 Dr. Laffer provides historical monetary context to explain his questions on bitcoin
• 00:21:01 Jameson, Erik and Korok help explain the importance of bitcoin mining to the network and potentially to the energy grid at large
• 00:28:16 Alex explains why bitcoin has value globally and why bitcoin mining was invented and why it is important to stabilize the bitcoin network
• 00:32:29 Does the marginal cost of energy determine the cost of bitcoin?
• 00:39:12 Alex and Erik propose a potential future that could be unlocked by bitcoin if used as a global currency
• 00:44:20 Yassine and Dr. Laffer discuss how a bitcoin standard could be a viable replacement for the gold standard
• 00:51:15 Dr. Laffer explains that the potential to replace the US dollar is his greatest excitement in bitcoin
• 00:55:56 Jameson explains that bitcoin is pseudonymous rather than anonymous, and that bitcoin itself is not encrypted
• 01:00:37 Alex discusses the inherent need for the Bitcoin blockchain to be completely auditable
• 01:04:47 Jameson and Rod walk through the halving process and the transparent strength of the network
• 01:05:46 Art poses the question: what does our panel believe makes bitcoin valuable?
• 01:13:36 Alex explains that bitcoin does not necessarily have counter party risk but it may have exchange rate risk
• 01:15:50 The speed of transactions in bitcoin have been improving greatly and is actual assets moving at rapid speed rather than liabilities being passed quickly
• 01:23:27 Rod and Dr. Laffer talk through some crucial differences between gold and bitcoin
• 01:26:42 Why bitcoin can be a potential preservation of wealth, and why volatility in the price of bitcoin can be either good or bad
• 01:39:40 Cathie and Yassine wrap up the conversation

On this episode of FYI, we’re joined by David Flynn, the mind behind Hammerspace, a privately owned company working in the realm of data storage and management. On this episode, ARK Director of Next Generation Internet Research Frank Downing, and CEO and CIO Cathie Wood dives deep into a world where data isn’t just stored, but orchestrated. David takes us through the futuristic landscape crafted by Hammerspace, leveraging the untapped potential of Solid State and Flash technology to redefine data management. From unveiling the shortcomings of platforms like Amazon’s S3 to pioneering the concept of data orchestration, David takes us on a journey through the frontier of data technology. Listeners will also hear about David’s path from programming on a Commodore 64 to becoming a trailblazer in the industry.

• Overview of David’s background
• Leveraging luck and experience with embedded systems to exploit the potential of flash storage
• Consumer electronics sparked demand, lowering costs and expanding market opportunities
• Hammerspace’s approach to try to fundamentally transform data management through decentralized, dynamic data orchestration
• Hammerspace’s data orchestration: facilitating direct manipulation on a global file system
• Hammerspace offers a unique network attached storage (NAS) system that enhances data accessibility and boosts performance by separately handling metadata and actual data
• Object storage is cheaper, simpler but still important; Hammerspace enhances utility
• Companies in sectors such as artificial intelligence (AI), entertainment, science, and design benefit from a universal data interface, especially when handling large, unstructured data sets
• AI and machine learning (ML) revolutionizing industries, enhancing data management and accelerating research
• Transition to data orchestration technology might take around five to ten years, paralleling server virtualization’s adoption cycle but potentially hastened by AI advancements

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous Autonomous Technology and Robotics Director of Research Sam Korus are joined by Worldcoin CEO Alex Blania. First, Nick and Sam discuss Meta’s Ray Bans glasses and their AI implications, and AI as an operating system. Then together with Alex they discuss Worldcoin’s latest initiatives.

• Intro
• Meta AI
• AI as an OS
• Worldcoin CEO

“AGI” refers to Artificial General Intelligence which is a theoretical form of AI where a machine would have intelligence equal to humans.

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

On today’s episode of FYI, we delve into the world of Palantir, the data integration and analytics company, as we discuss their platforms and their application across numerous industries. Joining Next Generation Internet Director of Research Frank Downing, and CEO Cathie Wood on the show is Shyam Sankar, Palantir’s Chief Technology Officer. Together, they explore the power of ontology, the integration of artificial intelligence (AI), and the immense potential of Large Language Models (LLMs). From revolutionizing the way businesses make decisions to uncovering new frontiers in biology and manufacturing, this episode explores the ever-evolving landscape of technology.

• Overview of Shyam’s background
• Palantir’s public perception and problem-solving approach
• How Palantir’s platform evolves to solve varied, industry-specific problems through generalizable approaches
• Palantir expedites Generative AI via focused, decision-driven data ontology
• Using ontology for quicker, action-focused business decisions
• Operationalizing AI beyond chat interfaces
• Integrating LLMs in apps for efficient workflow
• Government cautiously, yet optimistically, exploring generative AI’s potential
• Clients exhibit mixed feelings; seeking education on leveraging LLM effectively
• Palantir fosters a unique artist colony culture, emphasizing individuality in roles
• Utilizing Generative AI tools internally to streamline documentation and leverage unstructured data sources
• Value in application layer and owning it
• Why app layer owners have an AI advantage
• Concerns about AI integration with legacy and modern tech infrastructure
• Ginkgo aims to engineer biology for manufacturing and leverages AI
• Why Palantir believes their integration of human thought, LLM, and algorithmic reasoning will dominate the market

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous Autonomous Technology and Robotics Director of Research Sam Korus are joined by Research Associate Andrew Kim. Together they discuss OpenAI’s Dall-E 3 release and the impressive developments of Tesla’s Optimus Robot.

• Intro
• OpenAI Dall-E 3
• Tesla Optimus

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

On today’s episode of For Your Innovation, hosts Andrew Kim and Nicholas Grous sit down with Dylan Diamond, the brain behind Saturn, a calendar app that’s taken over 17,000 U.S. public schools. Originating as a basic web tool and now an iPhone essential, Saturn goes beyond just planning your day—it’s a social network that informs you about your friends’ current and future locations. Join us as Dylan unpacks the journey of Saturn, detailing how artificial intelligence (AI) is revolutionizing time management and social planning. From custom features tailored to individual schools to the key alliances that have accelerated its expansion, we’ll uncover how Saturn isn’t just a utility—it’s a community.

• Overview of Dylan’s background, and the origin of Saturn/li>
• How Saturn evolved from a web app to an iPhone app/li>
• Lessons in building personalized, unscalable apps for schools/li>
• Scaling quickly by utilizing organic growth and student ambassadors/li>
• Organic growth fueled by user demand, teamwork/li>
• AI in Saturn focuses on solving real problems, like auto-updating school calendars and fostering social connections/li>
• Saturn focuses on students, not faculty, and aims to be a lifelong calendar/li>
• Focusing on high school to build a strong user base, while also seeing potential for expansion into college/li>
• Saturn combines social and utility, aims for steady growth, and expects more social platforms to add utility features

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous Autonomous Technology and Robotics Director of Research Sam Korus are joined by Director of Investment Analysis & Institutional Strategies Tasha Keeney. Together they discuss updates on Tesla and Apple’s adoption of 3D Printing, Unity and Electric Vehicle Charging.

• Intro
• Tesla 3D Printing
• Unity
• EV Charging

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

In this episode of FYI, hosts Andrew Kim and Nicholas Grous explore the world of TikTok Shop with Oren Schauble, who shares insights on setting up shop, driving sales, and the advantages of early adoption. We’ll also navigate the realm of drop shipping and third-party logistics (3PL), revealing when and how to utilize each method, and uncover top-notch partners. As we venture further, we’ll uncover the secrets to thriving in a saturated market, finding niches, establishing customer loyalty, and adapting to change. Later, we’ll take a deep dive into the creator economy, exploring opportunities for individuals and companies to monetize talents and its impact on marketing. Finally, we’ll delve into effective brand-building across various channels, focusing on social media success, customer value, appealing web design, and inspiring success stories. Oren provides his insights and tips as we explore success in today’s dynamic retail landscape.

• Exploring the creator economy, opening opportunities for all
• Emphasizing omnichannel strategy; refining through Direct-to-Consumer (D2C)
• Unlocking Shopify’s success in easy payments, while TikTok and Instagram are enhancing frictionless buying experiences
• Choosing products through direct factory contact, utilizing managed services, or browsing platforms like Alibaba
• Combining value and entertainment for potent social media branding
• Building an audience early, curating space, and thinking strategically
• Navigating saturation by finding your unique niche
• Implementing familiar design elements to foster consumer trust and usability
• Investing in setting up a TikTok Shop; reaping the benefits it offers

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous Autonomous Technology and Robotics Director of Research Sam Korus are joined by Next Generation Internet Director of Research Frank Downing. Together they discuss updates on SpaceX and Visa’s integration with stablecoins.

• Intro
• SpaceX
• Visa Stablecoin Integration

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous Autonomous Technology and Robotics Director of Research Sam Korus discuss the Disney and Charter dispute and the Tesla Highlander Model 3 update.

• Intro
• Disney vs. Charter
• Tesla Model 3 Update

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

Since inception, ARK has researched and published thoughts on the cryptocurrency ecosystem within Big Ideas and through articles, whitepapers, monthly Bitcoin reports and podcasts. Now, in coordination with Bitcoin Park, ARK is pleased to introduce a monthly conversation with leaders in the Bitcoin space, to discuss everything happening in the rapidly-changing and still nascent Bitcoin ecosystem. Published through the For Your innovation podcast channels, this monthly series aims to be informative and enlightening, including experts with diverse viewpoints.

Guests on this month’s Bitcoin Brainstorm include:

Paul Itoi – CEO, Stakwork

Laolu (Roasbeef) Osuntokun – CTO and Co-founder, Lighting Labs

Kody Low – Head of Developer and Product Support, Fedi

Rod Roudi – Co-Founder, Bitcoin Park

Cathie Wood – CEO, CIO and Founder, ARK Invest

Yassine Elmandjra – Crypto Lead, ARK Invest

Frank Downing – Nex Gen Internet Director of Research, ARK Invest

• 00:00:00 Intro to the Bitcoin Brainstorm with Yassine and Rod
• 00:02:39 Introduction to this month’s guests
• 00:04:10 Cathie Wood explains the impact and importance of the convergence between and among technologies
• 00:12:32 Paul discusses how AI has revolutionized coding and computer engineering
• 00:19:40 Kody applies the coding revolution to Bitcoin and explores how Bitcoin and AI are converging
• 00:26:42 Cathie and Laulu discuss Lightning HTTP 402 Protocol (L402) and internet payment flow generally
• 00:30:24 Frank and Paul explain that Bitcoin could be useful as money because it cuts out traditional intermediaries in payment processing and could decrease counter-party risk
• 00:39:00 What are some of the use cases of micro-payments and how do they compare to larger payments like monthly subscriptions
• 00:51:27 Kody explains why the first rendition of L402 used special cookies know as macarons
• 00:53:16 Frank and Laolu discuss the constraints of ChatGPT and what the potential of AI agents can be outside the walls of a chat window, if given a budget and proper integration points
• 01:01:30 Through the example of a web development project, Paul describes how Bitcoin and generative artificial intelligence are converging today
• 01:06:55 What does the next generation of knowledge workers look like with micro-payments allowing for more efficient payment allocation?
• 01:14:48 Closing thoughts and remarks on Bitcoin’s unique impact on artificial intelligence today

Important Links Mentioned In This Episode:

• AI4ALL Hackathon website
• AI for All: Powering APIs and Large Language Models with Lightning
• How (Actually) Open AI Wins
• AI & Bitcoin
• Nostr
• LangChain
• AI4ALL Hackathon website
• AI for All: Powering APIs and Large Language Models with Lightning
• How (Actually) Open AI Wins
• AI & Bitcoin
• L402: https://docs.lightning.engineering/the-lightning-network/l402
• Lightning Network
• Stakwork
• Replit
• Fedi
• Bitcoin Park
• ARK Bitcoin Brainstorms

On today’s episode of FYI, hosts Andrew Kim and Nicholas Grous are joined by Roblox CTO Daniel Sturman, as they venture into the dynamic world of this gaming platform. Roblox empowers users to both create and experience unique content. Join us as we explore the multifaceted ways people leverage this technology, from crafting games and orchestrating music concerts to forging immersive brand experiences. We’ll also venture into the future of virtual reality (VR) and emphasize the significance of offering users the choice to engage with content in their preferred manner. Stay tuned for a discussion with Daniel, as we discuss Roblox’s success, confront the challenges in rendering realistic 3D generations, and discover how the company is ensuring safety and civility on the platform.

• Roblox as a content creation platform
• Showcasing an early demo of an artificial intelligence (AI) system; enhancing product features
• Utilizing generative AI to boost casual creative accessibility
• Addressing challenges in 3D generation and intricate avatar movement
• Navigating inefficiencies with models not designed for 3D data
• Leveraging rich safety data to refine generative AI models
• Anticipating immersive experiences, personalized touches, and expansive growth
• Prioritizing safety and custom experiences
• Exploring VR and phone avenues for immersive content creation
• Enhancing virtual reality communication through spatial sound; ensuring privacy and civility
• Innovating with real-time word censoring and substitution in models
• Approaching the horizon of arbitrary generation of user components

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous is joined by Director of Investment Analysis & Institutional Strategies Tasha Keeney and Research Associate Andrew Kim. Together they discuss the Character AI, Full Self Driving Beta v12 and Tesla, and the latest in Walmart’s partnerships with drone delivery companies.

• Character AI
• Tesla FSD Beta v12
• Walmart and Drones

FSD is Full Self Driving.DAU is Daily Active User.LLM is Large Language Model.

For more updates on Public.com: Website: https://public.com/ YouTube: @publicinvest Twitter: https://twitter.com/public

On today’s episode of FYI, Research Associate Andrew Kim, Asociate Portfolio Manager Nick Grous and ARK Advisor Angie Dalton are joined by Edward Saatchi, the founder of Fable, a company pioneering the use of Artificial General Intelligence in creating generative TV shows and simulations. Together, they explore the influence of AI on animated series like South Park, the power of negotiation with maximum leverage, the current industry strike, the potential of AI in gaming, and the challenges and ambitions of creating original art. Hear about novel AI methods, a groundbreaking 3D world simulation, and the future of fan-made episodes. Whether you’re a seasoned professional or new to the topic, this episode should engage and inform.

• Edward Saatchi’s background and journey from politics to AI entertainment
• AI-driven characters and their generative, behavior-based design
• Shows created from text prompts via AI, not recorded simulations
• Timing of AI introduction to empower writers, actors during strike
• Aiming to empower human artists, not merely create protected IP episodes
• Hurdles include focusing on animation complexity
• IP (intellectual property) holders need holistic approach to TV show creation; language model a small part
• Shift towards original, exciting art is needed
• Artificial General Intelligence (AGI) application in gaming could go beyond producing Non-Player Characters (NPCs)
• Generative storylines in games could be exciting
• Game companies and small studios partnering can decentralize the industry, empowering unique creations

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous and Director of Research, Autonomous Tech & Robotics Sam Korus are joined by Director of Investment Analysis & Institutional Strategies Tasha Keeney and Research Associate Daniel Maguire. With Tasha, they discuss the state of autonomous drone delivery, and with Daniel they discuss cost declines in nuclear power.

• The State of Delivery
• Nuclear Cost Declines
• Conclusion

Step into the realm of Magic Leap, a company focused on the augmented reality (AR) universe. On today’s episode, the advanced headset, Magic Leap 1, is examined in detail, comparing its performance to other devices on the market. Then we discuss the hurdles the company has encountered in creating appealing content for consumers. Listeners are invited to join in on the discussion about the advancements incorporated into their newest model, the Magic Leap 2, and how it’s being adopted by enterprise customers spanning diverse industries. The applications of wearable technology in the realms of training and healthcare are explored, uncovering how Magic Leap is pioneering revolution in these domains. Join Andrew, Nicholas, and Daniel as the future of augmented reality and the opportunities it presents are investigated.

• Introduction to Magic Leap 1 and its performance compared to HoloLens
• Feedback from enterprise customers for improvements
• Highlights of Magic Leap 2: lighter, smaller, bigger field of view
• Prescription lenses and Dynamic Dimming for better image clarity
• Software updates for enterprise integration
• Positive feedback for Magic Leap 2
• Benefits of wearable technology in training for industrial and manufacturing scenarios
• Increased engagement and retention of employees using wearable technology
• 3D visualization and guided assistance in healthcare for accuracy and safety
• Remote assistance in the public sector for machinery repairs
• Potential impact of wearable technology in healthcare delivery
• Magic Leap’s support for developers and partnerships with major companies
• Focus on advancing technology and providing a performative platform for AR
• Applications of Magic Leap technology in architecture, construction, retail, automotive, and manufacturing sectors
• Comparison with pass-through virtual reality (VR) devices and the revenue potential of the enterprise market
• Magic Leap’s roadmap for device improvements and strong partnerships
• Current market position and the belief that AR can deliver immediate value

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous and Director of Research, Autonomous Tech & Robotics Sam Korus are joined by Senior Editor at OnlineCasinos.com Ryan Butler. Together they discuss ESPN BET, and the deal between Penn National Gaming and Barstool Sports, and then Sam and Nick discuss AI’s impact on Global Warming.

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.

Big Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.

We believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.

To learn more, view Big Ideas 2023.

This week’s Big Ideas Monday Mini Episode focuses on Smart Contract Networks.

In the aftermath of catastrophic failures of centralized crypto intermediaries last year, automated self-executing contracts on decentralized public blockchains offer the alternative of transparent and non-custodial financial services.

Decentralization is proving more critical to maintaining the original value proposition of public blockchain infrastructure.

According to ARK’s research, as the value of tokenized financial assets grows onchain, decentralized applications and the smart contract networks that power them could generate $450 billion in annual revenue and reach $5.3 trillion in market value by 2030.

Watch the video version here.

Hosts Andrew Kim and Nicholas Grous venture into the world of artificial intelligence (AI) in the gaming sector with Marc Whitten, the President of Create at Unity. They discuss AI’s role in creating vivid, immersive 3D experiences. Marc gives them a behind-the-scenes look at the complexities and opportunities involved in deploying AI for content creation in games. They also explore Unity’s mission to make game design accessible to all. The conversation doesn’t stop at gaming; they also cast a wider look at how real-time 3D technology is making waves across various industries. So join Andrew, Nicholas, and Marc on this insightful journey where they blend technology, creativity, and gaming into a captivating exploration.

• Mark Whitten’s background and role as President of Create at Unity
• Gaming industry competitiveness and use of AI
• AI targeting specific players and improving ad monetization
• Focus on building and maintaining gaming communities
• AI at Runtime for immersive and dynamic game worlds
• Non-player character (NPCs) having meaningful conversations and shaping game experiences
• Implications and challenges of generative AI in game development
• Unity’s use of AI tools and collaboration with Apple
• Apple’s approach to spatial computing and Vision OS
• Orchestration of AI techniques through Muse platform
• Solving content creation crisis in the industry
• Productivity gains and increased number of creators with AI tools
• Challenges and benefits of using neural network-based features in games
• Cintus platform for local model execution and improved performance
• Designing games for different platforms and input methods
• Real-time and 3D technology in non-gaming industries
• Unity’s goal of expanding applications and accessibility of tools
• AI’s role in content creation across various industries
• Unity’s focus on real-time and 3D technology in different sectors
• Partnerships with various platforms and potential for creativity

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous and Director of Research, Autonomous Tech & Robotics Sam Korus are joined by ARK Research Associate, David Puell. Together they discuss ARK’s Bitcoin Monthly Report and crypto outlook, the hunt for AI computing, what CoreWeave is doing to secure more GPUs, and more.

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.

Big Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.

We believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.

To learn more, view Big Ideas 2023.

This week’s Big Ideas Monday Mini Episode focuses on Autonomous Ride Hail.

Today, autonomous ride-hail services delight riders across ~15 cities internationally* and should scale into widespread commercial adoption within the next ten years.

Autonomous technology should reduce the cost of mobility to ~12% the average cost of human-driven ride-hail service today.

ARK’s research suggests that global autonomous ride-hail platforms will create $14 trillion in enterprise value, based on $4 trillion in revenue during the next five years.

Watch the video version here.

*This number includes both commercial and non-commercial services operating at the end of 2022. Sources: ARK Investment Management LLC, 2023. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.

Since inception, ARK has researched and published thoughts on the cryptocurrency ecosystem within Big Ideas and through articles, whitepapers, monthly Bitcoin reports and podcasts. Now, in coordination with Bitcoin Park, ARK is pleased to introduce a monthly conversation with leaders in the Bitcoin space, to discuss everything happening in the rapidly-changing and still nascent Bitcoin ecosystem. Published through the For Your innovation podcast channels, this monthly series aims to be informative and enlightening, including experts with diverse viewpoints.

Guests on this month’s Bitcoin Brainstorm include:

Preston Pysh – Show Host and Co-Founder, The Investor’s Podcast Network and Advisor, Ego Death Capital

Jack Mallers – CEO and Founder, Strike

Obi Nwosu – CEO and Co-Founder, Fedi

Rod Roudi – Co-Founder, Bitcoin Park

Harry Sudock – Chief Strategy Officer, GRIID and Partner, Bitcoin Park

Cathie Wood – CEO, CIO and Founder, ARK Invest

Yassine Elmandjra – Crypto Lead, ARK Invest

• 00:00 Intro to the Bitcoin Brainstorm and Bitcoin Park in Nashville
• 4:30 Our panel discusses Jack Dorsey’s thoughts on Bitcoin as the currency of the internet
• 8:30 Dr. Art Laffer’s discovery and interest in Bitcoin
• 10:30 How Bitcoin can potentially benefit communities like those in Kenya
• 19:00 What countries are moving the fastest to adopt Bitcoin as a currency and how does the global south view Bitcoin generally
• 26:20 Jack’s thoughts on the modern day monetary policy and why it may be destroying the middle class
• 28:31 Why Bitcoin might be too volatile for many people living in poverty, but crypto solutions like stablecoins could be a better option
• 30:35 Potential routes of scalability for Bitcoin, including the potential for a third layer, beyond Lightning
• 35:20 Comparing Visa’s network to the Lightning network and the argument that Bitcoin does not have a scaling problem
• 39:26 How Jack Dorsey and Block are working to grow the Lightning network
• 44:39 The cooperation that exists within the Bitcoin ecosystem and why
• 49:10 Bitcoin’s role in enabling businesses to reach more people globally
• 54:38 The comparison of Lightning channels to traditional fiat channels
• 56:30 Why Bitcoin might be the most inclusive currency
• 01:00:49 How Bitcoin could be unlocking a new customer that was otherwise unwilling to bank, similar to how Robinhood unlocked a new investor base with lower barriers to entry
• 01:03:42 The ability to focus on markets that other people are unable to focus on may be one of Bitcoin’s most valuable current features
• 01:06:15 Obi’s recounting of Gridless, a Kenyan Bitcoin mining company that has transformed villages in Africa
• 01:10:00 Preston’s comparison of Bitcoin to Mitochondria
• 01:11:02 Conclusion, and final thoughts from Harry, Preston, Obi, Yassine, Jack and Cathie

Show Notes:

• June ARK Invest Bitcoin Monthly – https://twitter.com/dpuellark/status/1676733038674190338
• Money Matters Podcast with Jack Mallers and guest Jack Dorsey https://podcasts.apple.com/us/podcast/ep-1-jack-dorsey/id1695949365?i=1000619425244
• Ai4ALL Hackathon – https://bolt.fun/tournaments/ai4all/overview To learn more about Bitcoin Park – bitcoinpark.com

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous and Director of Research, Autonomous Tech & Robotics Sam Korus are joined by ARK Chief Futurist Brett Winton. Together they discuss the possibility of a Room Temperature Superconductor, what we are learning about ad spending from company earnings reports, and Sam Altman’s Worldcoin.

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.

Big Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.

We believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.

To learn more, view Big Ideas 2023.

This week’s Big Ideas Monday Mini Episode focuses on Bitcoin.

We believe Bitcoin’s long-term opportunity is strengthening. Despite a turbulent year, Bitcoin has not skipped a beat. Its network fundamentals have strengthened and its holder base has become more long-term focused.

Contagion caused by centralized counterparties has elevated Bitcoin’s value propositions: decentralization, auditability, and transparency.

The price of one bitcoin could exceed $1 million in the next decade.

Sources: ARK Investment Management LLC, 2023. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security or cryptocurrency. Past performance is not indicative of future results.

On this episode of FYI, we explore the strategic launch of Meta’s Threads and their significant impact on brands with a keen focus on brand safety. We discuss how large brands tend to be risk-averse and how Twitter’s brand safety issues have made Meta’s Threads appealing for advertisers. We also explore the rise of TikTok as a platform for performance advertising, along with the advantages of Meta’s algorithm for performance advertising. We touch on the success and challenges of brand characters and the importance of authenticity in content. Additionally, we delve into the significance of organic content on TikTok before running ads, the role of social proof, and the rise of retail media and over-the-top (OTT) advertising. We analyze the impact of Threads on brand safety perceptions and the differing perspectives on Threads and Twitter. We also explore the recent announcements of creator funds by Snap and Meta and their implications. We delve into VaynerMedia’s role in digital advertising and their integrated creative and media approach. Finally, we discuss the excitement surrounding Roku’s partnership with Shopify in TV-generated commerce and the potential for targeted advertising based on collected data. Join us as we explore these timely and relevant topics with our guest, Jon Morgenstern.

• Gary Vaynerchuk and VaynerMedia loves being early in social media
• Smart timing for Meta’s launch of threads. Brands value brand safety and may pull back due to risk on Twitter
• What Threads might offer advertisers
• Twitter strategically pressures Meta in creator monetization
• Twitter’s future lies in short video
• TikTok’s threads and comments generate engagement
• Creating successful brand characters is difficult
• TikTok drives organic engagement and social proof
• Roku’s news with Shopify play buzzes excitement
• Possible precedents for multiple players in Threads
• Evolving Instagram with new features and integration

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com.

Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous and Director of Research, Autonomous Tech & Robotics Sam Korus are joined by ARK Director of Investment Analysis. Together they discuss Tesla Earnings, Hollywood Strikes, and general AI Updates, including Meta’s Llama 2.

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.

Big Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.

We believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.

To learn more, view Big Ideas 2023.

This week’s Big Ideas Monday Mini Episode focuses on Electric Vehicles.

Investors once questioned whether the future was electric. Demand for EVs has scaled despite a pause in cost declines caused by commodity price shocks. Now investors doubt whether or not the growth will be exponential.

The debate around electric vehicles has shifted from demand to supply. Based on Wright’s Law, ARK forecasts that EV prices will decline and sales will increase more than 7-fold, or 50% at an annual rate, from roughly 7.8 million in 2022 to 60 million units in 2027.

The biggest downside risks to our forecast are supply constraints that could continue to impact pricing and the speed at which traditional automakers transition to electric vehicles.

Sources: ARK Investment Management LLC, 2023. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.

When ARK CEO and CIO Cathie Wood was discussing Bitcoin and Digital Assets in general with her mentor and famed economist Dr. Arthur Laffer, he told her that it reminded him of an era before the Federal Reserve existed. This idea spurred Cathie to invite Dr. Laffer on the FYI podcast to further discuss the history of money in general and what Bitcoin’s role in the history of money might be. Alongside Cathie and Art, we are also pleased to welcome Ophelia Snyder, the Co-Founder and President of 21.co, a Cryptocurrency Exchange Traded Product (ETP) provider. In the discussion, Cathie, Art and Ophelia discuss the original idea of centralized money, the economic booms and busts of the past, the transparency of digital assets and much more.

• The United States early definition of a dollar
• The relatively novel concept of centralized money
• A world before the Federal Reserve (Fed) in 1913, and how the Fed changed money
• Economic booms and busts in history starting with The Great Depression
• How the real economy has changed in the US and globally
• What a new Gold-Standard in the world of Digital Assets look like
• Art argues for the necessity of a price rule
• Stable coins and some of their inherent challenges
• Bitcoin’s similarities to Gold
• The number of wallets that hold Bitcoin long term
• The potentially changing role of the SEC
• Why a more transparent and decentralized ecosystem may be beneficial

Please note that 21.co and ARK are unaffiliated entities.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com.

Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous and Director of Research, Autonomous Tech & Robotics Sam Korus are joined by ARK Crypto Lead Yassine Elmandjra. Together they discuss the SEC Ripple decision, the ongoing Threads and Twitter battle, and the economy of Space, including SpaceX.

• SEC and Ripple
• Twitter vs. Threads
• Space Economy Update

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.

Big Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.

We believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.

To learn more, view Big Ideas 2023.

This week’s Big Ideas Monday Mini Episode focuses on Public Blockchains.

In 2022, the contagion from Terra/LUNA, Three Arrows Capital, Celsius, and FTX/Alameda wiped out ~$1.5 Trillion in crypto market capitalization.

Despite the severe downturn, public blockchains continue to foster The Monetary, Financial, And Internet Revolutions. The long-term opportunity for Bitcoin, DeFi, and Web3 is strengthening.

Cryptocurrencies and smart contracts could command $20 trillion and $5 trillion in market value, respectively, during the next ten years.

Sources: ARK Investment Management LLC, 2023. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular or cryptocurrency security. Past performance is not indicative of future results.

On today’s episode of FYI we will be featuring last week’s episode of In The Know, a monthly video series in which ARK CEO and CIO Cathie Wood discusses Fiscal Policy, Monetary Policy, Economic and Market Indicators and Innovation.

On this specific episode, Cathie Wood, weighs in on artificial intelligence (AI), Bitcoin, Fed Policy, electric vehicles, the discrepancy between GDP and GDI, bankruptcies, and the German and Chinese economies.

Watch the video version here.

• Lagging and leading market indicators
• Rising bankruptcies
• The Fed’s policy, as indicated by the latest Fed meeting minutes
• The discrepancy between Gross Domestic Product (GDP) and Gross Domestic Income (GDI)
• The potential for a hard economic landing
• Bitcoin, and a potential spot Bitcoin ETF
• An apparent increase in demand for Electric Vehicles
• The current state of the German and Chinese economies
• The Artificial Intelligence Revolution

Glossary of Terms

“Fed” refers to the U.S. Federal Reserve, the central banking system of the United States. Fed Funds Rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight on an uncollateralized basis.

M2 is the U.S. Federal Reserve’s estimate of the total money supply including all of the cash people have on hand plus all of the money deposited in checking accounts, savings accounts, and other short-term saving vehicles such as certificates of deposit (CDs).

Yield Curve is a graphical representation of the interest rates on debt for a range of maturities. It shows the yield an investor is expecting to earn if they lend their money for a given period of time. An inverted curve appears when long-term yields fall below short-term yields. An inverted yield curve occurs due to the perception of long-term investors that interest rates will decline in the future.

A Basis Point is equal to 1/100th of a percentage point (100 basis points = 1%).

Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. Nominal GDP is a measure of economic output that uses current prices and does not adjust for inflation.

“CPI” refers to the Consumer Price Index, which is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Core CPI excludes food and energy.

“Magnificent 7” is a term adopted by the financial industry to describe the top seven technology companies currently investing heavily in artificial intelligence (AI). The seven companies are Meta Platforms, Alphabet, Apple, Amazon, Microsoft, Nvidia and Tesla. The previously used “FAANGs” acronym, coined in 2017, described the top technology companies at the time and included Meta Platforms (f/k/a Facebook), Apple, Amazon, Netflix and Google (now trading under its parent company, Alphabet).

“Mega-caps” refers to companies with market capitalizations in excess of $200 billion. Market capitalization refers to the total dollar market value of a company’s outstanding shares of stock.

The S&P 500 is a stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the United States.

The Nasdaq-100 is a stock market index made up of 101 equity securities issued by 100 of the largest non-financial companies listed on the Nasdaq stock exchange.

“QQQs” refers to the Invesco QQQ Trust ETF which is a passive ETF that tracks the Nasdaq 100 Index and therefore is sometimes used as a proxy for the index in conversation.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com.

Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

This week, Associate Portfolio Manager Nick Grous and Director of Research, Autonomous Tech & Robotics Sam Korus discuss Meta’s Threads platform, Tesla Autonomous Marketplace Dynamics and Declining Used Vehicle Prices.

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.

Big Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.

We believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.

To learn more, view Big Ideas 2023.

This week’s Big Ideas Monday Mini Episode focuses on Artificial Intelligence.

Generative AI made waves this year, from DALL-E-2 to ChatGPT. These tools are improving the productivity of knowledge workers—~2x in the case of AI coding assistants.

AI training cost declines continued at an annual rate of 70%, the cost to train a large language model to GPT-3 level performance collapsing from $4.6 million in 2020 to $450,000 in 2022. We expect cost declines to continue at a 70% rate through 2030.

AI should increase the productivity of knowledge workers more than 4-fold by 2030. At 100% adoption, AI could increase global labor productivity ~$200 trillion, dwarfing the ~$32 trillion in total knowledge worker salaries.

Watch the video version here.

Sources: ARK Investment Management LLC, 2023. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.

On this episode of FYI, our hosts and special guest Dr. Ann Marie Sastry dive into the intersection of artificial intelligence (AI) and education. They discuss the importance of engagement in education, the role of technology and generative AI, and the need to inspire learners in new ways. Dr. Sastry shares her experience founding two companies, Amesite and Sakti3, and her passion for innovating education. The conversation covers personalized teaching and how AI can help people leverage their strengths, the shift in gaming towards creator platforms, and the need for education to compete with other forms of entertainment. The speakers also share personal experiences with technology-integrated education and the importance of social media in engaging younger generations. Don’t miss this fascinating discussion about the future of education and AI’s role in it.

• Bridging education and AI for innovative approaches to future learning.
• Shifting from education as a sorting function to cultivating individual talents.
• Education through innovation offers socioeconomically disadvantaged students life-changing opportunities.
• The Innovation Foundation’s age-appropriate research curriculum in Pinellas County offers personalized, innovative education, fostering a mindset change in students, and preparing them for future jobs.
• AI personalizes education, recognizing individual strengths in students, aiding teachers, and promoting creativity.
• AI integration enhances learning by providing relevant, contextual information and promoting user-friendly, innovative learning experiences.
• Integrating AI and social media into education encourages engagement, creativity, and economic relevance.

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.

Big Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.

We believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.

To learn more, view Big Ideas 2023.

This week’s Big Ideas Monday Mini Episode focuses on Digital Consumers.

In 2022, digital leisure spending* totaled $6.6 trillion and, during the next eight years, should grow 17% at a compound annual rate to $22.5 trillion adjusted for inflation. Four trends should contribute to its growth:

Connected TV (CTV): Roughly 85% of US households have access to at least one CTV, but the CTV ad market is only 23% the size of total US TV ad budgets. In our view, CTV is at an inflection point and will take share from both linear TV and other digital ad budgets.

New Social Platforms: Nearly 40% of Gen Z consumers prefer to search on TikTok and Instagram over Google Search and Maps. Social platforms with the best recommendation engines should command the majority of ad budgets, with content-based social media likely outperforming follow-and-feed social media.

Sports Betting: Despite macro headwinds, consumer demand for sports betting remains strong. Legalization of online/mobile sports betting should continue to catalyze growth.

Gaming: The convergence of video games and social media should sustain gaming revenue growth. Video games should provide end-to-end virtual entertainment that rivals physical experiences.

Watch the video version here.

*We define digital leisure spending as the sum of consumer expenditures on leisure-related goods and services purchased online, NFTs, online sports betting, video game software and services, streamed video, and streamed audio. We only estimate online sports betting volume generated in Canada and the US. Sources: ARK Investment Management LLC, 2023. Altruda, C. 2022; Roblox, data as of 12/30/22; S&P Global Market Intelligence, data as of 01/25/23. The World Bank, data as of 12/30/22; Insider Intelligence, data as of 01/02/23; S&P Global Market Intelligence, data as of 01/25/23; Perez, S. 2022; Statista, data as of 01/25/23. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.

Immunotherapy has the potential to cure cancer. Today we are joined by a leading figure in cancer studies and research and one who has helped shape the immunotherapy landscape, Dr. Patrick Hwu. The internationally recognized Dr. Hwu previously applied his trade at the National Cancer Institute and is now the President and CEO of one of America’s leading cancer hospitals, the Moffitt Cancer Center. We tap into Dr. Hwu’s wealth of knowledge and experience as he explains what immunotherapy is, its benefits, and how it differs from other cancer treatments. We explore the recent advancements in immunotherapy and what the future of this treatment looks like, why the time to market for new technologies and therapies needs to improve and how the FDA fits in, how to get the right treatments to the right patients at the right time, and how Dr. Hwu and his team are impressing the industry with the way they use math, data aggregation, and large language models (LLMs) to problem-solve. We end with some heartfelt stories of triumph from Dr. Hwu’s career, the hand he’s played in building Florida’s formidable biotech ecosystem, and his words of inspiration for future scientists and a message of hope for families who are currently fighting through treatment.

• Joining us today is the President and CEO of Moffitt Cancer Center, Dr. Patrick Hwu.
• Background on Dr. Hwu’s professional career.
• What immunotherapy is, its benefits, and how it differs from traditional cancer treatments.
• How Dr. Hwu helped shaped the immunotherapy landscape: his ‘aha’ moments.
• Exciting advancements going on in his lab and immunotherapy in general.
• Dr. Hwu explains he’s having a lot of fun working with CRISPR for gene editing.
• Why FDA regulations need to be adjusted to accommodate new technologies and treatments.
• How to lower the costs of cell and other important therapies, and why this needs to happen.
• Why resources like ClinicalTrails.gov need to be more abundant.
• Examining why some patients respond better to gene therapy than others.
• How to improve the process of getting the right drug to the right patient at the right time.
• The impressive way that Dr. Hwu and his team utilize math, data aggregation, and LLMs.
• Assessing the challenge of persistence in immunotherapy.
• Inspirational stories of triumph from Dr. Hwu’s career.
• Revisiting more ways to shorten the time to market for new technologies and therapies.
• Playing piano for two bands, and other ways that Dr. Hwu lets off steam.
• How he’s contributed to building an impressive biotech ecosystem in Florida.
• Advice for potential immunotherapy scientists, and words of hope for families in therapy.

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.

Big Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.

We believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.

To learn more, view Big Ideas 2023.

This week’s Big Ideas Monday Mini Episode focuses on 3D Printing and Robotics.

Robotics and 3D printing can collapse time from development to production, shorten supply chain footprints, reduce waste, and lower costs.

ARK estimates that manufacturing robots and 3D printing could scale at a ~80% annual rate during the next eight years, from $70 billion in 2022 to ~$9 trillion by 2030.

Watch the video version here.

Sources: ARK Investment Management LLC, 2023. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.

According to Dr. Arthur Laffer, since 1913, when the United States first imposed the income tax via constitutional amendment, the top rate of that tax has determined the fate of the American economy. When the top rate has been high, as in the late 1910s, the 1930s, 1940s, 1950s, and 1970s, the response of those with money and capital has been to curtail real economic activity in favor of protecting assets and income streams. Huge declines have come to the economy in these circumstances.

On today’s podcast, ARK CEO, CIO and Founder Cathie Wood is again joined by Dr. Arthur Laffer, a famed economist, well-known for his creation of “The Laffer Curve,” so Dr. Laffer and Cathie can discuss Laffer’s book, Taxes Have Consequences, in which Dr. Laffer provides a history of taxes and their impact on the United States economy. Dr. Laffer explains why he believes that a low rate broad-based flat tax, spending restraint, sound money, minimal regulations, and free trade are the answers to most of our economic problems.

• An overview of Arthur Laffer’s new book, Taxes Have Consequences.
• How the government finances taxation.
• A history of income tax since 1913.
• Defining characteristics of the Roaring Twenties.
• The market collapse that occurred in 1929.
• Similarities between the environment in 1929 and today.
• How Art would structure the American tax system if he could.
• Why stimulus spending hurts the economy.
• Art’s thoughts on regulation.
• Why Art is a strong proponent of developing free trade agreements with countries that the US currently has issues with.
• What makes America different from the rest of the world.
• The correlation between tax hikes and economic performance.
• Why everyone benefits in a low rate broad-based flat tax system.
• The role of taxes in the Great Depression.
• Factors that Art attributes the high inflation levels to.
• The importance of acting fast when it comes to changing policies around taxes.
• How the pandemic has accelerated the migration to low tax states.
• Interesting statistics about states like Texas, Florida and Tennessee.
• Art’s thoughts on how to address poverty in the United States.

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.

Big Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.

We believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.

To learn more, view Big Ideas 2023.

This week’s Big Ideas Monday Mini Episode focuses on Digital Wallets.

Having onboarded billions of consumers and millions of merchants, digital wallets could transform the economics associated with traditional payment transactions, saving them nearly $50 billion in costs.

With 3.2 billion users, digital wallets have penetrated 40% of the global population. ARK research suggests that the number of digital wallet users will increase 8% at an annual rate, penetrating 65% of the global population by 2030.

As consumers and merchants adopt digital wallets, the usage of traditional checking accounts, credit and debit cards, and direct merchant accounts should decline, disrupting traditional payment intermediaries.

Cutting out middlemen, digital wallets could facilitate closed-loop transactions for more than 50% of their payment volumes, potentially adding $450 billion to the current $1 trillion in digital wallet enterprise value by 2030.

Watch the video version here.

Sources: ARK Investment Management LLC, 2023. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.

We are very excited to be joined today by one of the world’s leaders in scientific and biological research, Dr. Jonathan Weissman. After a breakdown of Jonathan’s professional background, we dive into CRISPR and how the genetic engineering tool can be used for drug development, disease discovery, and as a therapeutic treatment of its own. You’ll learn how our guest is using CRISPR in his lab and some of the solutions that he and his team have come up with for protein misfolding. Jonathan explains how his work has evolved beyond cancer, why he’s a fan of ex vivo lung perfusions (EVLPs), what needs to be done to bring new therapies and technologies to market quicker, and why he believes that there is no better time to be a young scientist than right now!

Key Points From This Episode:

• Introducing Dr. Jonathan Weissman and his professional background.
• The idea of programmable medicine and how CRISPR fits into drug development.
• Exploring the benefits and drawbacks of using CRISPR tools.
• How Jonathan has been implementing CRISPR in his lab.
• Why he thinks that his work is an important biological development.
• CRISPR as both a tool for discovery and a therapeutic treatment of its own.
• Our guest explains how we’ve evolved even beyond cancer.
• Some of the problems of protein misfolding (and Jonathan’s solutions).
• Taking a look at CRISPR delivery methods and how he sees these processes evolving.
• The ins and outs of EVLPs and why our guest is excited by this topic.
• What needs to be done to reduce the time to market for new therapies and technologies.
• Why scientific outreach is important and why it’s an exciting time to be a young scientist.
• Jonathan’s advice for future science leaders.

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.

Big Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.

We believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.

To learn more, view Big Ideas 2023.

This week’s Big Ideas Monday Mini Episode focuses on Precision Therapies.

Precision therapies are patient-centric and target the root cause of disease, not symptoms. Designed using novel experimental and computational methods, precision therapies could develop faster and more cost-effectively than traditional therapies.

Rapid advances in technologies like artificial intelligence (AI), DNA and RNA sequencing, CRISPR gene editing, and laboratory automation have spawned new therapies, enabling the treatment of diseases previously considered intractable. Increasingly, precision therapies are becoming multiomic, with mechanisms of action spanning DNA, RNA, proteins, and more.

Based on ARK’s research, the enterprise value of companies focused on precision therapies could appreciate 29% at an annual rate from ~$500 billion in 2022 to ~$3 trillion by 2030.

Watch the video version here.

Sources: ARK Investment Management LLC, 2023. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.

Reducing complexity, increasing speed, enhancing the user interface, reducing costs, reducing waste, enhancing equality, and saving lives; this is the mission of Zipline. Today on the show, we are joined by Keller Rinaudo Cliffton, the co-founder of the company on a mission to provide the world with an autonomous drone logistics system that is incomparable to any other delivery service on the planet. Despite the enormous amount of skepticism they were up against, Keller and his team chose to turn science fiction into reality. Through delivering blood to hospitals in Rwanda, Zipline has been able to reduce the maternal mortality rate by 88%, and they have flown over 40 million miles for commercial purposes. In this episode, Keller talks about the variety of challenges that have made the Zipline mission far harder than they anticipated, their humble approach to product development, and what this groundbreaking business model means for the future of logistics and human kind.

• The motivation behind the founding of Zipline.
• What Zipline’s first year of operations in Rwanda consisted of.
• Why the assumption that uptake of advanced technology always occurs in developed countries first is incorrect.
• How Zipline has expanded its service since its founding.
• The alternative delivery options to Zipline (and why Zipline believes its service offers so much more value to its customers).
• Statistics that highlight the impact that Zipline has had on the Rwandan healthcare system.
• Skepticism that the Zipline idea was met with prior to its launch.
• Why naivete can be an entrepreneurial superpower.
• The number of autonomous miles that Zipline drones have flown for commercial purposes.
• Obstacles that Keller and his team have had to overcome to get Zipline to where it is today.
• An overview of the expertise on the Zipline team.
• Zipline’s approach to product development.
• How Zipline has helped to evolve aerospace regulations.
• Reasons for the drastic increase in demand for instant delivery.
• The problems with traditional delivery mechanisms and how Zipline is solving them.

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.

Big Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.

We believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.

To learn more, view Big Ideas 2023.

This week’s Big Ideas Monday Mini Episode focuses on Autonomous Logistics.

Autonomous logistics—including trucks, drones, and robots—should lower delivery costs and increase convenience.

Based on our updated assumptions on pricing, ARK estimates that autonomous logistics revenue could scale from nearly zero today to $1-2 trillion by 2030. Autonomous delivery charges could range from $0.20 to $10 per trip.

Watch the video version here.

Join us today for a conversation on the exciting progress and possibilities of genetics in pediatric care, with Dr. Caleb Bupp. Caleb is the Division Chief of Medical Genetics and Genomics at Spectrum Health and Helen DeVos Children’s Hospital, and we get to hear from him about his path into this role, and how he first discovered his passion for helping young ones. Our guest comments on the central themes of parental communication, cost reduction, and genetic exceptionalism before we delve into some of the most noteworthy points of progress in the pediatric field at the moment. We look at the Project Baby Bear and Project Baby Deer programs, and the important impact that the speed and timing of results can have on the care of kids, with Caleb explaining the societal norms and expectations around genetics and engagement with these datasets. He also raises some concerns about access to care and shares an inspiring success story from the last few years, so make sure to tune in to get it all.

• Caleb takes us through his career journey and the roots of his interest in genetics and pediatrics.
• Reflection on the Concert Genetics Conference and Caleb’s involvement.
• Reducing costs and freeing up resources for more impactful care.
• Thoughts on the intangible value of providing comprehensive patient information for parents.
• Dr. Bupp weighs in on the topic of genetic exceptionalism.
• Surprising recent developments in fields of genetics and pediatrics.
• Potential challenges with the amounts of information that clinicians needs to process.
• Experiences and progress with the Project Baby Bear program.
• Caleb’s recent paper and presentation on the work at Project Baby Deer.
• The impact of earlier and faster intervention when treating children.
• How more proactive and effective screening can affect general societal health.
• Caleb shares the standout story of a patient with variants of uncertain significance and DFMO (difluoromethylornithine, a substance being studied in the treatment of cancer).
• Applying the principals of drug repurposing to other scenarios.
• Looking to the future and Caleb’s hopes for the short and long-term of the pediatric space.

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.

Big Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.

We believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.

To learn more, view Big Ideas 2023.

This week’s Big Ideas Monday Mini Episode focuses on Molecular Diagnostics. Next-generation sequencing (NGS) costs have collapsed, making molecular diagnostic tests more feasible and turbocharging our understanding of tumor biology.[1]

By leveraging artificial intelligence (AI), cancer diagnostics labs have created less invasive tests like liquid biopsies to supplement tissue biopsies.[2]

As proof of clinical utility accumulates, ARK estimates that the total addressable market (TAM) for molecular cancer diagnostic tests in the US is ~$95 billion, its revenue increasing more than 20% annually during the next five to ten years, from ~$5 billion in 2022 to $24 billion in 2030. Moreover, the collective enterprise value of molecular cancer testing companies should expand at a similar rate from ~$30 billion in 2022 to $145 billion in 2030.

Wach the video version here.

The International Space Station (ISS) is the largest human-made object in low Earth orbit and serves as a unique platform for scientific research and technological development. It was first made operational in the year 2000 and acts as a symbol of international diplomacy, demonstrating how countries can work together to achieve a common goal, despite political or cultural differences. And as the ISS enters its third decade of operation, it nears the end of its planned operational life, which is set for 2028, at the earliest. Joining us today to discuss the ISS, its incredible achievements, and its future are two leading figures from Axiom Space, Chief Information Officer Amir Blachman, and Chief Astronaut Michael López-Alegría. In our conversation, we discuss the plan to retire ISS and Axiom Space’s role in transitioning to becoming a commercial space station. We learn about Ax-1, the first fully private astronaut trip to the ISS, led by Axiom Space, and what to expect from their second upcoming mission, Ax-2. Michael and Amir also provide insight into the founding of Axiom Space, the expert team that runs its operations, and the key factors that sets the company apart from its competitors. To learn more about Axiom Space, the history of the ISS, and the future of spaceflight, be sure to tune in today!

• Introducing today’s guests, Amir Blachman and Michael López-Alegría.
• An overview of the International Space Station (ISS) and its functions.
• The ISS’s importance as a lab and as a symbol of diplomacy.
• Why the ISS will eventually need to be replaced and how it should be done.
• Axiom Space’s goal to build the world’s first commercial space station.
• A breakdown of how Axiom Space plans to accomplish this.
• How things have changed at the ISS in the past two decades.
• Examples of how the ISS has benefited humanity.
• Axiom Space’s role in transitioning the ISS into becoming a commercial space station.
• The origins of Axiom Space and how they were chosen to be the partner for this project.
• A rundown of Axiom Space’s business model for their commercial space station.
• Some of the innovative ways that countries and companies are using the ISS.
• Insights into Axiom Space’s user base and why they fly with them to the ISS.
• The details of Ax-2, Axiom Space’s second upcoming mission to the ISS.
• An overview of Ax-1, the first fully private astronaut trip to the ISS.
• Takeaways from Ax-1 and how they conducted research.
• How Ax-1 helped Space Axiom grow as a company.
• Some of the research that will be conducted on the Ax-2 space mission.
• Michael’s thoughts on the future of space travel for everyday people.
• Insight into the factors that have helped make Axiom Space so successful in this field.
• Hear Michael’s predictions of when we’ll see the first human on Mars.

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.rnrnBig Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.rn rnWe believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.rnrnTo learn more, view u003ca href=u0022https://ark-invest.com/big-ideas-2023/u0022 rel=u0022noopeneru0022 target=u0022_blanku0022u003eBig Ideas 2023u003c/au003e.rnrnThis week’s Big Ideas Monday Mini Episode focuses on Orbital Aerospace. Aerospace costs are declining, thanks to advancements in deep learning, mobile connectivity, sensors, 3D printing, and robotics. As a result, satellite launches and rocket landings are proliferating.rnrnIn the coming decade, satellite broadband and hypersonic flight could generate annual revenues of ~$84 billion and ~$270 billion, respectively.rnrnu003ca href=u0022https://ark-invest.com/big-ideas-2023/orbital-aerospace/u0022 rel=u0022noopeneru0022 target=u0022_blanku0022u003eWach the video version hereu003c/au003e.

Drug development is an extremely expensive endeavor, in large part because of the 96% failure rate of clinical drug trials. However, the new frontier of medicine has arrived, and Sean McClain and Joshua Meier (respectively the Founder/CEO and Chief Artificial Intelligence (AI) Officer of Absci) are leading the charge. Absci is a public company harnessing generative AI to create more effective medicines faster and less expensively. During this episode, Sean and Joshua explain how their pooled approach to antibody production works, why they focus so heavily on data, the metrics they use to evaluate their models, and why they are certain that personalized medicine is going to be a reality in the future. There are countless possible mashups of AI and drug discovery, and Absci attempts to bring an innovative approach to biologics to positively impact human health!

• Sean’s original idea behind the founding of Absci and how it has evolved into what it is today.
• How Absci is making the process of drug creation much more efficient.
• The career path that led Josh to Absci.
• How antibodies are currently produced.
• The most important aspects to consider when developing an antibody.
• A high-level overview of how Absci generates data.
• The number of AI-generated designs that Absci can validate in any given week.
• Metrics that Absci uses to evaluate their models.
• What humanization is in the context of antibody design.
• Understanding Absci’s naturalness model.
• A common problem in the AI field.
• The potential for collaboration with Big Pharma.
• How the models Absci is developing can be applied in different contexts.
• Sean and Joshua’s thoughts on what the future of medicine is going to look like.
• How AI is likely to change the way we approach scientific and technological developments.

The concept of the metaverse has been around for decades, but recent advances in technology and the growing popularity of virtual worlds and online gaming have led to renewed interest in the idea. To help us unpack the nuance of the metaverse is Yonatan Raz-Fridman, the CEO and Founder of Supersocial, a metaverse enterprise building immersive digital experiences. Supersocial aims to pioneer the future of digital interactions, where people can seamlessly merge reality with fantasy and connect in ways that transcend physical boundaries. In our conversation, we unpack the complexity of the metaverse and its potential to shake up traditional commerce. We dive into the behavior shift happening around the metaverse and whether it’ll be adopted by the current or next generation of users. Discover the opportunities Supersocial is creating and how virtual worlds can help businesses achieve brand recognition and create unforgettable branded experiences. We hear how virtual worlds are breaking down barriers within commerce, an example of a brand helping Supersocial innovate in the space, the power of user-generated content, and much more. Tune in to this enlightening episode as we unravel the potential of virtual worlds and the exciting future that lies ahead for individuals and businesses alike.

• Background about Yon and why he decided to start Supersocial.
• How Supersocial is different from a traditional gaming studio.
• We discuss the future of virtual worlds and the ways video games will evolve.
• The opportunities for innovation that Unreal Engine 5 provides.
• An overview of the challenges associated with building virtual worlds.
• Yon unpacks the behavior shift regarding the metaverse.
• Whether the metaverse will be adopted by the current or next generation of users.
• Why Minecraft has only been viewed as a video game and not as a platform.
• Find out how virtual worlds can help brand recognition and branded experiences.
• Bringing virtual worlds and traditional commerce together.
• Hear an example of a brand that is leveraging the virtual space.
• Ways customer relationship management is being redefined.
• Discover the possibilities of the metaverse facilitating e-commerce virtually and physically.

Scaling laws are as important to artificial intelligence (AI) as the law of gravity is in the world around us. AI is the empirical science of this decade, and Cerebras is a company dedicated to turning state-of-the-art research on large language models (LLMs) into open-source data that can be reproduced by developers across the world. In this episode, James Wang, an ARK alum and product marketing specialist at Cerebras, joins us for a discussion centered around the past and the future of LLM development and why the generative pre-trained transformer (GPT) innovation taking place in this field is like nothing that has ever come before it (and has seemingly limitless possibilities). He also explains the motivation behind Cerebras’ unique approach and the benefits that their architecture and models are providing to developers.

• Why Cerebras attracted James.
• James explains the concept of wafer-scale computing and why it is so advantageous in the AI space.
• A historical overview of large language model (LLM) development.
• What James believes to be the most significant natural law that has been discovered in this century.
• Why Cerebras wants to get state-of-the-art LLM data into the hands of as many people as possible.
• The Cerebras GPT law.
• Looking towards the future of LLMs.
• Standard practice when it comes to training an LLM (and the problems that developers have been battling for years).
• The potential advantage of Cerebras CS2 chips and computers.
• Understanding the concept of disaggregated architecture.
• How the Cerebras approach differs from the approach taken by other companies (NVIDIA and Dojo, for example).
• Cerebras offerings that are available to be used by the public.
• The current GPU cloud shortage (and why this adds to the appeal of Cerebras software).
• Why the progress being made in the GPT space is incomparable to developments that have come before it.
• Potential directions that the world could be heading in as a result of AI developments (and why James is optimistic about it all).
• The AI use case that is keeping James up at night.

The gaming industry has seen massive innovations in the past two decades, from the rise of online gaming to the release of unprecedented virtual reality (VR) products. And in that time the industry has seen massive growth, going from an estimated $30 billion a year worldwide at the start of the twenty-first century, to generating an astounding $200 billion in 2022. Joining us today to discuss the business of gaming in 2023 is Angie Dalton, an advisor for ARK Invest and the CEO and Founder of Signum Growth Capital, and Joost van Dreunen, an academic, entrepreneur, and a well-known expert in the video game space. Tuning in you’ll hear a breakdown of how the gaming industry has developed over the past two decades, the ever-useful role of user-generated content in gaming, and how gaming studios are adapting to changes in the space. We take a look at how platforms and game engines like Roblox and Unity are making it easier than ever for users to generate content and how studios are leveraging amateur output to keep up with demand. Our conversation also covers how blockchain technology and Web3 could add value to the gaming space, the shifting relationship between gaming and other forms of entertainment, and the most promising use cases for VR and augmented reality (AR). To learn more about the fascinating business of gaming and upcoming developments in this space, be sure to tune in today!

• Introducing today’s guests, Angie Dalton and Joost van Dreunen.
• Joost’s expertise in gaming and his work as an academic, advisor, and entrepreneur.
• How the gaming sector has grown and developed globally over the last two decades.
• The history of user-generated content in gaming.
• Why so much innovative gameplay comes from user-generated content.
• How studios are leveraging user-generated content to keep up with demand.
• The concept of forever games and how studios are shifting their models to build community and keep users engaged.
• An overview of the elements driving the rising trend in user-generated content.
• The shifting relationship between gaming and traditional entertainment, like television.
• Why AAA games take so long to develop and Joost’s predictions for a more iterative release model.
• Joost and Angie’s top takeaways from the latest Game Developers Conference (GDC).
• How blockchain technology and Web3 could add value to the gaming space.
• The drawbacks of the play-to-earn model in Web3 games.
• Joost’s reservations when it comes to blockchain and Web3 applications in gaming.
• Key problems in the gaming industry concerning the recognition of labor.
• Navigating issues of copyright when it comes to user-generated content.
• The concept of an open metaverse, interoperable virtual worlds, and how likely these scenarios are.
• Our thoughts on Apple’s upcoming move to enter the VR space.
• The strong case for enterprise applications when it comes to AR and VR.
• Find out about Joost’s new venture Aldora.io and what they are currently working on.

The rise of Web3, blockchain, and non-fungible tokens (NFTs) has disrupted many industries, including video gaming. To help us unpack the role of Web3 in the video game industry is John Linden, CEO of Mythical Games, a game tech studio pioneering digital asset ownership, scarcity, and secondary markets. Their team creates products to drive consumer adoption of distributed ledger tech. John has a deep love for video games and a curiosity for exploring the potential of blockchain technologies. In our conversation, we talk about his approach to revolutionizing the future of gaming by integrating blockchain technology, rethinking game economics, and the intersection of traditional gaming and crypto. Learn how the industry has shifted in recent years, the opportunities of the Web3 space, the power of digital assets, converging technologies and concepts, and the tug-of-war between centralization and decentralization within the gaming industry. We discuss the Metaverse and interoperability, and hear about the exciting collaborations that Mythical Games is working on. Tune in and discover the future of gaming with John Linden!

• Background about John and a brief history of Mythical Games.
• How Mythical Games’ approach to game development differs from the traditional approach.
• John shares his views on play-to-earn video games, and why the concept was not widely adopted.
• The foundation of a good blockchain game and the role of digital assets.
• Learn how Mythical Games is leveraging blockchain technology to disrupt the gaming industry.
• Overview of the challenges game developers face in the Web3 space.
• What makes Web3 video games different, and why blockchain is made for gaming.
• Learn what is needed to build a successful open Metaverse for consumers.
• Whether interoperability is a necessary component of the Metaverse.
• He explains the road map for Mythical Games and how the concepts will not be limited to the video game industry.
• Ways in which the Web3 space will be beneficial for streamers and influencers.
• Hear about the exciting collaboration between the NFL and Mythical Games.

We are pleased to bring you the second edition of the ARK Crypto Brainstorm; a quarterly conversation between a rotating group of experts in the crypto space, The ARK Crypto Brainstorm is published through the For Your Innovation podcast channels and aims to be an informative and in-depth conversation on the current state of the ever-changing crypto landscape with experts offering diverse viewpoints.

In the second edition of the ARK Crypto Brainstorm, ARK Crypto Lead Yassine Elmandjra and ARK CEO and CIO Cathie Wood hosted 7 leaders in the crypto space including:

• Lyn Alden, macroeconomic investor with expertise in Bitcoin, is leading the conversation on the regional banking crisis and the Fed’s decision-making amidst continued macro uncertainty.
• Jeremy Allaire, CEO of Circle, the largest regulated stablecoin issuer, has successfully navigated the banking crisis while demonstrating a commitment to openness and transparency.
• Paul Grewal, Chief Legal Officer at Coinbase, is at the forefront of advocating for greater regulatory clarity in the US and emphasizes the importance of creating an environment for crypto to flourish.
• Caitlin Long, CEO and Founder of Custodia, is dedicated to building a regulatory compliant bridge between the traditional US financial system and cryptoassets.
• Angie Dalton, CEO of Signum Capital, has built a strong relationship with US regulators, working with startups and protocols to outline a regulatory compliant path for operating in the US.
• Chris Burniske, a partner at Placeholder Ventures, has highlighted the resilience of crypto fundamentals and why this is a compelling time to be an investor despite the uncertainty.
• Michael Sonnenshein, CEO of Grayscale, is trailblazing the path to a US Bitcoin ETF approval, questioning some of the assumptions made by the SEC in its decision-making.

• 04:47 Paul and Cathie discuss the current state of the regulatory landscape surrounding cryptocurrencies
• 09:48 Lyn Alden provides a historical perspective on regulation
• 18:57 What Jeremy is hearing from his recent trips to Washington DC on crypto regulation
• 22:22 The potential for a Bitcoin ETF, and Grayscale’s relationship with the SEC
• 27:41 How the FTX collapse may have set the industry back in the eyes of the US government
• 34:38 Michael Sonenshein’s optimistic point of view on regulators idea of crypto
• 40:06 Caitlin’s view that regulators are unwilling to make progress in passing significant regulation in the next few years
• 49:36 Chris compares digital assets to water
• 50:13 Cathie and Yassine transition the conversation to the Regional Banking Crisis
• 58:35 Caitlin highlights the inherent illiquidity many banks currently have and what problems that might cause
• 1:04:56 Lyn offers her end game scenario if the Fed continues to be hawkish
• 1:13:22 Chris highlights the clear differences between the banking system and cryptocurrencies like Bitcoin and Ethereum
• 1:20:42 Coinbase’s latest product launches including Wallet and Base
• 1:24:20 How Bitcoin has responded to the recent regional bank crises
• 1:27:33 We go around the horn and ask: What would our guests like to see happen this year?

On March 17, 2023, Balaji Srinivasan wrote a tweet thread that started with a simple, shocking bet that the price of one Bitcoin would reach $1,000,000 in the next 90 days. Balaji is an American entrepreneur and investor. He was the co-founder of Counsyl, the former Chief Technology Officer of Coinbase, and former general partner at the venture capital firm Andreessen Horowitz. ARK CEO and CIO Cathie Wood agrees that the price of a Bitcoin could reach $1M, but ARK’s prediction on when this might happen is very different. In today’s episode, Cathie and Balaji discuss their current and future outlook on the United States and global economies, the cryptocurrency ecosystem and their reaction to the recent volatility surrounding the regional banking crisis.

• An introduction to Balaji and his prediction that Bitcoin could reach $1M in the next 90 days
• Cathie sets up her initial argument that we are in a deflationary environment
• What we can learn from Argentina; when it was printing money while simultaneously raising interest rate
• Balaji argues that there are only three true currency pairs in the world today
• Balaji’s belief that there is a desire to exit the American financial system and that the financial system itself is inherently hard to predict
• Cathie shares her thesis that that the velocity of money is starting to flatten
• The potential for a “hard landing” in the economy
• How the recent regional banking crisis effects Cathie and Balaji’s predictions on inflation
• Balaji compares the Federal Reserve (Fed) Funds rate to Bitcoin’s issuance schedule
• How the 1980s compare to today in terms of inflation and interest rates
• Cathie provides a brief history on the guiding force behind Fed policy
• What could potentially happen to the use cases of Bitcoin should it rapidly increase in value
• Balaji’s belief that the world is running backwards in time but that the outcome will be different
• Why consumers have started to move money away from banks and instead have focused their attention on trying to earn yield on their money
• Why today’s economic events could be considered black swan events
• Balaji states that we may not have a widespread bank crisis, but instead we could specifically have a central bank crisis
• The potential that the Fed could be looking at the wrong indicators
• How the very existence of Bitcoin might defeat Keynsian economists theories at their core
• Why deflation might be a good thing for Blockchain technology
• Why Balaji believes states should continue to support cryptocurrencies

“Fiat currency”, as referred to in this podcast, means traditional, government-issued currency, such as the US dollar.

On this episode of For Your Innovation, we wanted to highlight last week’s special edition of “In the Know,” a monthly video series featuring ARK CEO/CIO, Cathie Wood. In this special episode, Cathie is joined by her mentor, former professor, and advisor to ARK Investment Management LLC, Dr. Art Laffer. Famous for the Laffer Curve, Art is an economist and was named one of Time’s Greatest Minds of the 20th Century.

Together, Cathie and Art dive into the recent banking crisis and the world of cryptoassets.

We hope you find this monthly series useful, especially during periods of heightened volatility. Stay Healthy. Stay Innovative.

• 1:45 – Intro
• 2:31 – Banking Crisis
• 35:30 – Crypto

Gene therapy is gaining momentum as a noteworthy adversary to cancer, and we are thrilled to be joined today by one of the pioneers of immune system-based treatments. Professor Waseem Qasim applies his craft at the UCL Great Ormond Street Institute of Child Health, which is notorious for being the largest concentration of children’s health research in Europe. Professor Qasim explains why he pursued a career in gene therapy, how three patients and technological advancements formed the basis of his groundbreaking treatments, what he thinks about autologous and allogeneic therapies, and what he has to say about his work being linked with a cure for cancer. We learn about the rapid advancement of medical technology, how accessible this technology is to disadvantaged communities, why pricing gene therapies is a slippery slope, and the factors that could lead to a cost reduction in Prof. Qasim’s treatments. To end, our guest shares advice on how to merge foundational research and practical applications, why the health industry needs to do more in supporting foundational research, and what Prof. Qasim thinks about the advent of artificial intelligence (AI) in medicine.

• Introducing today’s guest, Professor of Cell and Gene Therapy, Waseem Qasim.
• What led Prof. Qasim to focus on developing gene therapies for genetic disorders in children.
• The story for Leila Richards’s groundbreaking gene-edited cell therapy.
• How technological innovations have paved the way for successful gene therapies.
• The details behind Prof. Qasim’s second highly-publicized success story: Alyssa.
• More about his lesser-known patient who bridged the gap between Leila and Alyssa.
• Our guest explains the quality assurance process before cells are reentered into the body.
• What he thinks about autologous cell therapies versus allogeneic ones.
• Prof. Qasim reacts to his work being described as synonymous with a cure for cancer.
• What he thinks about the radical progression of health technology and whether it will continue to advance at such blinding speed.
• How accessible this advanced technology is and will be to disadvantaged communities.
• Why one size does not fit all when it comes to costing and pricing gene therapies.
• Exploring the factors that could reduce the cost of Prof. Qasim’s treatments.
• Some advice on how to blend the worlds of foundational research and practical application.
• The role that the health industry should be playing in supporting foundational research.
• Our guest’s thoughts on the use of AI in new medical technologies and techniques.

Please note: as of 2/28/23, ARK’s clients own greater than 1% of the shares outstanding of Drafkings Inc.

Fantasy sports and sports betting are now well-known and developed markets that serve hundreds of millions of people, and today’s guest has found a way of bringing the two into the Web3 space. We are joined by the Co-Founder of DraftKings, Matt Kalish, as he gives us a sense of the moments surrounding his company’s venture into daily fantasy and mobile sports betting. Then, we learn about DraftKings NFT game Reignmakers, how it’s pushing new frontiers in Web3, how it works, and how it stacks up against other daily fantasy products. We also hear about how players and league associations have received DraftKings, as well as some key insights into some of the partnerships they have formed. Our guest explains his perspective on Web3 interoperability and the transfer of utility, why DraftKings chose to partner with Polygon, what he and his team hope to achieve in the next five years, and what excites him the most about the Web3 space. At the end of today’s episode, Matt gives us his assessment of his Boston Celtics season so far and why he thinks they are real title contenders.

• An introduction to the Co-Founder of DraftKings, Matt Kalish.
• Matt’s professional background and how he became a founding member of DraftKings.
• When they launched their daily fantasy product and how they got into mobile sports betting.
• How DraftKings is pushing new frontiers in Web3 with Reignmakers.
• The way Reignmakers matches up to daily fantasy products, and how it works.
• How players and leagues have received DraftKings, and the partnerships they’ve formed.
• What Web3 interoperability means to Matt and his thoughts on the transfer of utility.
• Why DraftKings chose to work with Polygon.
• What Matt and his team hope to achieve in the next five years.
• How the introduction of NFTs in fantasy sports has impacted private betting behavior.
• What excites Matt the most about exiting the NFT winter and the Web3 space as a whole.
• Matt’s thoughts on the Boston Celtics season so far and where he thinks they’ll end up.

Robotics are both deeply tied to artificial intelligence (AI) and machine learning (ML), and also somewhat distinct in their practicality and material application. Built Robotics is a great example of this duality, and in today’s conversation with the CEO and Co-Founder of the company, Noah Ready-Campbell, we hear about how the company is positioning itself in relation to current construction industry needs and also for the wave of possibilities in the near future. Noah talks about the process of transition to autonomy, comparing other related sectors such as transportation, the strong bonds Built Robotics has created with the burgeoning solar power space, and also his belief in the capability of automation to aid us in constructing a better world. We discuss the refining of machine learning models, safety and security at Built Robotics, the need for supervision, and other sectors that the company might move into in the future. So to hear it all from Noah in this insightful chat, make sure to join us.

• The history of Built Robotics, the initial hypothesis, and their focus in the last few years.
• Noah talks about what they offer their clients in the construction business.
• Renewable energy and solar power; why Built Robotics has found a good fit in this space.
• Unpacking the usual costs of construction and how Built Robotics’ prices compare with this.
• The sensor suite at Built Robotics; computers, cameras, GPS, and more.
• Noah’s perspective on the question of autonomy and the trajectory of the construction industry.
• Thoughts on safety and regulation, and the eight-layer safety system in place at Built Robotics.
• Considering the limits on how fast and efficiently the machine is and will be able to operate.
• Necessary supervision and the possibility of the complete removal of human involvement.
• The skills involved in the utilization of machine capabilities.
• Noah shares the comparisons of efficiency and work hours between human labor and robotics.
• The vision for Built Robotics, and Noah’s ambitions around longevity.
• Factory integration of machines and where Built Robotics system is headed.
• The elements of Built Robotics that make sense to outsource.
• Noah’s expectations for the company to move into sectors beyond construction.
• The influence and impact of the latest wave of AI advancements on the company.
• The importance of the Inflation Reduction Act on the construction industry.
• Noah talks about the robotics possibilities he is most excited about currently.

Urban air modality is coming to life a lot faster than we may expect, and joining us today is the CEO of Volocopter, Dirk Hoke, to discuss their new Electric Vertical Take-Off and Landing (eVTOL) vehicle service launching in 2024. Tuning in, you’ll hear all about how Dirk joined Volocopter, the different aviation authorization bodies and why they’re important, the aviation safety regulations in testing new aircraft, mistakes companies are making, and the global regulators’ reaction to new technology. Dirk talks us through how Volocopter is designed, why it is designed the way it is, and how it will change urban air modality over the next decade. You’ll also hear about the hurdles they are facing, their hopes for their launch, and the cost of these models. Autonomy is not a technological issue but is rather an issue of certification and public support and in this episode, Dirk highlights the importance of recognizing that air taxi travel is going to happen much sooner than we think. Tune in now to hear about this exciting innovation.

• An introduction to today’s guest, Dirk Hoke.
• What led Dirk to join Volocopter.
• Dirk explains the importance of the aviation authorization bodies, Federal Aviation Administration (FAA) and International Aviation Aviation Assessment (IASA).
• Why you can only have a serious problem in civil airspace after one billion operational hours.
• How to ensure safety when creating an aircraft.
• What makes this such a rigorous process and the mistakes he sees other companies making.
• How global regulators have reacted to the huge wave of new technology being created.
• Why air traffic management needs to go through the next step of digital transformation.
• Dirk tells us why Volocopter is designed the way it is.
• Dirk explains how this model will change flying in the next decade.
• The price structure dynamics in this industry.
• What discussions are being had about increasing landing sites.
• How congestion is changing and why we need new modalities without waiting for new roads.
• How and why the business model for making aircrafts has changed.
• Why Dirk wants President McCall to launch the product at the 2024 Paris Olympics.
• The hurdles Volocopter is facing as they journey to commercial launch.
• Why one design cannot cope with all the requirements of all the different markets.
• Why autonomy isn’t a technological issue but rather an acceptance and certification problem.
• Why humans will be used in the loop of automated air travel for quite a while.
• The importance of understanding that air taxis will fly sooner than we think they will.

On today’s episode of FYI, we will highlight another segment from Big Ideas 2023; Technological Convergence.

To watch Chief Futurist Brett Winton walk through his section, click here.

To download the full Big Ideas 2023, click here.

According to ARK’s research, five innovation platforms are converging to create unprecedented growth trajectories.

Artificial Intelligence is the most important catalyst, its velocity cascading through all other technologies.

The market value of disruptive innovation platforms could scale 40% at an annual rate during this business cycle, from $13 trillion today to $200 trillion by 2030.

In 2030, the market value associated with disruptive innovation could account for the majority of the global equity market capitalization.

Today, Tasha Keeney sits down with Simon Barnett to talk about ARK’s valuation of Exact Sciences and to share our outlook about the company’s trajectory in the next five years. Exact Sciences is the cancer testing company that has brought to market both Cologuard and Oncotype. This conversation covers the prominence and acceptance of these two testing franchises, Exact Sciences’ product leadership, Exact’s recent performance in the market, the models that ARK has developed for gauging the company’s outlook, and the areas of risk that investors should be aware of. One of the main focuses of today’s chat is what Exact Sciences’ progress symbolizes in terms of the future of the cancer treatment field, with Simon making an argument for why he sees them holding onto their market-leading position for the foreseeable future. We also spend some time at the end of the episode considering what this means for healthcare and individual wellbeing in general, so make sure to catch it all in this episode of For Your Innovation! Please refer to the Exact Sciences valuation article for a more comprehensive explanation of ARK’s model, including its risks and limitations.

• Introducing Exact Sciences and its two biggest testing franchises: Cologuard and Oncotype.
• Valuation of Exact Sciences and how ARK has approached creating these models.
• Calculations for the price target of the company.
• Sales and marketing at Exact Sciences and the positive brand recognition they have built.
• Benchmarks for analyzing companies like Exact Sciences.
• Comparing ARK’s process and view on Exact Sciences to other opinions in the market.
• How the lowered price of genome sequencing has affected the outlook for the market.
• The route to the aggregate gross margin structure for Exact Sciences.
• Qualitative elements that matter most to ARK; how Exact Science fits into our rubric.
• Alignment between the expectations of Exact Science’s management and our estimations.
• A look at the three main areas of risk: competition, time, and financing.
• Simon explains how thesis risk applies to the healthcare space.
• Thoughts on the company’s net income and cash flow in the near future.
• Reasons to be excited about the next few years in the healthcare space.

On today’s episode of FYI, we will be featuring last week’s episode of In The Know, a monthly video series on which ARK CEO and CIO Cathie Wood discusses fiscal policy, monetary policy, market signals, economic indicators, and innovation. On this specific episode, Cathie weighs in on M2 growth, interest rates, inflation, auto sales, and bitcoin. Additionally, she highlights ARK’s Big Ideas 2023.

The Big Ideas highlighted in this year’s report include:

• Technological Convergence
• Artificial Intelligence
• Digital Consumers
• Digital Wallets
• Public Blockchains
• Bitcoin
• Smart Contract Networks
• Precision Therapies
• Molecular Diagnostics
• Electric Vehicles
• Autonomous Ride-Hail
• Autonomous Logistics
• Robotics and 3D Printing
• Orbital Aerospace

Watch February’s Episode of In The Know.

Download the full Big Ideas 2023.

Video games have grown massively over time, commanding more and more leisure time for people all around the world. As video game popularity has grown, so has the use cases and popularity of blockchain technology and these two worlds are beginning to merge more frequently with blockchain based platforms for video games. To help us unpack this nuanced subject is Justin Hulog, Chief Studio Officer at Immutable X, a non-fungible token (NFT) minting and trading platform for video game developers. Justin has a wealth of experience as a general manager, operations leader, and people strategist, and mainly focuses on the intersection of strategy and organization to solve problems. In our conversation, we talk about how Immutable X started, the different sides of the business, details about his role, and what the company provides developers. We then delve into designing sustainable in-game economies, how to potentially leverage blockchain technologies, the idea of cost versus utility, and how to sustain a game’s user base. Hear about the different taxonomies of the space, balancing the business side and the developer side, the play-to-earn era, the silver lining of the recent crypto bear market, and much more. Tune in to discover how blockchain technology could be revolutionizing the video game industry!

• Background about Justin and his current role at Immutable X.
• A brief overview of Immutable X and the underlying blockchain technology.
• The challenges that developers face working with blockchain-based platforms.
• How in-game blockchain-based economies are different.
• Details about the design approach at Immutable X.
• Ways in which the market and monetizing games have changed.
• The important underlying utility: making a fun game.
• Justin unpacks the different layers of a digital asset.
• How the out-of-game experience provides another platform for design.
• An overview of the exciting new possibilities of blockchain-based video games.
• What makes Immutable X different from the competition.
• An outline of the essential role the in-house development team plays.
• Justin shares his outlook on blockchain-based video games.

ARK Client Portfolio Manager Ren Leggi and Chief Futurist Brett Winton discuss why ARK believes investors should consider an allocation to disruptive innovation in 2023 in today’s episode of FYI. Ren and Brett discuss the potential size of the disruptive innovation opportunity, why ARK focuses exclusively on investing in innovation and what some of the major breakthroughs were in 2022 that the market might have missed while focusing closely on macroeconomic headwinds like interest rates and inflation. Ren explains why investors shouldn’t think of volatility negatively, and Brett answers the question: “Why should investors hold innovation strategies through downturns in the market?”

• Everything Brett’s role entails as Chief Futurist as ARK
• What the size and scale might be for the disruptive innovation opportunity
• Why ARK focuses exclusively on investing in disruptive innovation
• Why Brett believes ChatGPT was a major breakthrough
• Some of the major breakthroughs the market might have missed in 2022
• Our belief that the market might be too focused on macroeconomic headwinds
• What Brett would tell investors concerned about the inherent volatility in innovation
• Making the case for an allocation to disruptive innovation in an investor’s portfolio
• Why the broad-based benchmarks might be short innovation
• The importance of maintain a long-term investment time horizon when investing in innovation
• What innovation is happening in the private equity markets
• Why ARK never changes its investment philosophy even in market turmoil
• Answering the question: “Why should investors hold innovation strategies through downturns in the equity markets?”
• Why investors should not try to “time” the market
• Ren explains why volatility should not be considered a bad word
• Companies seem to be holding elevated levels of cash on their balance sheets

There are many speculations about the future of artificial intelligence (AI), and in this episode, we hear the opinions and predictions of a player in the inner folds of the AI space. Naveen Rao is the CEO and Co-Founder of the machine learning (ML) training platform, MosaicML, and the former CEO and Co-Founder of Nervana Systems. Naveen shares insight into the thesis behind Mosaic and the practical applications of Large Language Models (LLMs), as well as the Generative Pre-trained Transformer-2 (GPT-2) to GPT-3 transition and the challenge of training models with the constraint of data limits. He predicts the evolution of AI models in terms of quantity, size, and function, and the future of computers in general. If you’re curious as to whether it makes sense to build smaller models or own your own model, this episode is for you. Tune in to hear Naveen’s opinions on the impact of AI on the economy, the danger of centralizing resources, what constitutes sentience, and much more.

• Naveen Rao’s educational background and interest in synthetic intelligence.
• What led him to start his first AI company, Nervana Systems.
• The thesis behind MosaicML.
• What MosaicML offers customers.
• What Naveen considers to be 2022’s most exciting breakthrough in AI.
• The innovation of ChatGPT.
• The GPT-2 to GPT-3 transition.
• The challenge of training models with the constraint of data limits.
• Naveen explains the concept of synthetic data.
• He predicts the evolution of AI models in terms of quantity, size, and function.
• Why it makes sense to build smaller models and own your own model where possible.
• Data as a moat component.
• Practical applications of LLMs.
• Naveen’s opinion on whether AI will disrupt the economy or increase Gross Domestic Product (GDP).
• The danger of the centralization of resources.
• How MosaicML is making trading more efficient given the limits AI is facing.
• The efficiency improvements MosaicML customers are seeking out.
• Naveen’s prediction for the rate of cost decline.
• The history of the computer password.
• The future of computers.
• The question of what constitutes sentience.
• Naveen recounts the acquisition process of selling Nervana Systems to Intel.
• How the innovator’s dilemma will play out among competitors in the AI space.
• Naveen’s advice for his past self.

It is officially the golden age of TV: no matter how and what you want to watch, there is a platform for you to find it. Nick Grous, Associate Portfolio Manager at ARK, is here to comment on the ongoing wars between Netflix, Disney +, Hulu, Amazon Prime, and other streaming platforms. It seems it is back to the basics for many of these platforms: a change in their digital approaches highlights adaptations in the advertising world. Nick looks at Netflix, the poster child subscription-based platform, and its struggle with users sharing passwords, and, how advertising may be used to mitigate losses. Nick explores the impacts of the pandemic, how the streaming platforms individually deal with competition, global advertising opportunities, advertising proficiencies, and so much more! Plus, you will hear why Nick thinks that Connected TV (CTV) could be the way of the future!

• The subscription-based format of Netflix.
• When the “streaming wars” began.
• How Netflix managed continuous growth, despite speculation and doubts.
• How streaming platforms are managing the ‘COVID hangover’.
• Ad-supported video-on-demand (AVOD) versus subscription video-on-demand (SVOD).
• Why Nick thinks Netflix will start AVOD.
• How consumers approach and react to the advertising in their streaming services.
• Advertiser’s approach to changes in the market.
• The over-the-top (OTT) and Connected TV (CTV) advertising landscape.
• Nick discusses Roku TV: a streaming media player.
• Short-term turbulence versus long-term struggles in the streaming sphere.
• The impact of the 2008 and 2009 recessions on advertising platforms.
• Why cable and broadcasting are being left in the past.
• Nick’s five-year predictions.
• Nick’s show recommendations and his opinions on streaming pricing.

On this episode of the For Your Innovation podcast, we feature a special year-end episode of “In the Know” with ARK CEO/CIO, Cathie Wood. In the episode she answers investor questions ranging in topics including general market conditions, inflation, deflation, corporate earnings, interest rates, disruptive innovation, ARK’s investment process, supply-chain, and the outlook for 2023. As always, she discusses fiscal policy, monetary policy, market signals, economic indicators, and innovation.

To watch the video version of In The Know, click here.

As the year comes to an end, we would like to thank everyone who listened to the FYI — For Your Innovation podcast. In this final episode of 2022, we compiled some of our most interesting podcast episodes for you. Please enjoy this summary and tune back in when we return in 2023.

1. Space, Business, and the Business of Space with Jared Isaacman from Shift4 Payments (Ep. 127) Chief Futurist Brett Winton and Autonomous and Robotics Director of Research Sam Korus interview Shift4 Payments CEO and Chairman Jared Isaacman. Brett, Sam and Jared discussed the Polaris Dawn mission, Jared’s passion for spaceflight to further human space exploration, and some of the tangible philosophies that he took from SpaceX. (Listen to the full episode)

2. The Future of Web3 Games and Digital Ownership with Polygon Studios CEO Ryan Wyatt (Ep. 146) Next Generation Internet Director of Research Frank Downing and Associate Portfolio Manager Nick Grous sit down with Polygon Studios CEO Ryan Wyatt to unpack The Future of Web3 Games and Digital Ownership. Ryan also comments more generally on the buy-in to decentralization, interoperability concerns, and his perspective on the realities of the metaverse. (Listen to the full episode)

3. Personalizing Private Wealth with Titan CEOs Joe Percoco and Clay Gardner (Ep. 151) Analysts Max Friedrich and William Summerlin talk to Titan co-Founders and co-CEOs Joe Percoco and Clay Gardner about their mission to personalize private wealth. In that episode, you’ll hear how Joe and Clay met and founded their online investment platform, their mission and vision, how they remove the ‘middleman’ in hedge-fund-like investing and more. (Listen to the full episode)

4. Breaking Down Biotech Innovations with Dr. Bob Langer (Ep. 156) Analyst Ali Urman and ARK advisor Dr. Charlie Roberts are joined by MIT professor, chemical engineer, scientist, inventor, and investor Dr. Bob Langer. Dr. Langer has over 1,400 granted or pending patents, has been cited 374,000 times and counting, and was a co-founder of Moderna. In the episode, Ali, Dr. Langer and Dr. Roberts discuss emerging biotechnologies, the potential of artificial intelligence (AI) in healthcare and potential time-to-market accelerators for new therapies and vaccines. (Listen to the full episode)

5. Innovation is the Ultimate Leveler with Steve Case (Ep. 164) Steve is one of America’s most renowned entrepreneurs as a co-founder of America Online (AOL). Currently, Steve serves as chairman and CEO of Revolution LLC, which focuses on investing in the next generation of founders, especially in the 47 states outside of California, New York and Massachusetts. In the episode, Steve and our CEO Cathie Wood discuss why he thinks entrepreneurs are vital, the value of research toward innovation, why Steve thinks you should be optimistic for the future of America. (Listen to the full episode)

We are pleased to introduce the ARK Crypto Brainstorm; a quarterly conversation between a rotating group of experts in the crypto space, The ARK Crypto Brainstorm will be published through the For Your Innovation podcast channels and aims to be an informative and in-depth conversation on the current state of the ever-changing crypto landscape with experts offering diverse viewpoints.

In the first episode of the ARK Crypto Brainstorm, ARK Cryptocurrency Analyst Yassine Elmandjra and Chief Futurist Brett Winton hosted five leaders in the crypto space including:

Alex Gladstein CSO, Human Rights Foundation Alex Gladstein is Chief Strategy Officer at the Human Rights Foundation. He has also served as Vice President of Strategy for the Oslo Freedom Forum since its inception in 2009. In his work, Alex has connected hundreds of dissidents and civil society groups with business leaders, technologists, journalists, philanthropists, policymakers, and artists to promote free and open societies.

Chris Burniske Partner, Placeholder Chris Burniske is the Partner at Placeholder VC, a venture capital firm that invests in decentralized networks and web3 services. Chris is also the author of Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond, and he formerly led Crypto research at ARK.

Dhruv Bansal Co-Founder and CSO, Unchained Capital Dhruv Bansal is the Co-Founder and CSO at Unchained Capital, a bitcoin native financial services company offering collaborative custody multisignature vaults and loans for bitcoin holders. Prior to Unchained Capital, Dhruv was the co-Founder and CSO at Infochimps, a cloud service that streamlines building and managing complex big data environments and distills analytics.

Eric Wall Crypto Blogger Eric Wall is a Stockholm-based software engineer and cryptocurrency trader. He works at a financial IT infrastructure provider as a blockchain and cryptocurrency domain expert and holds a M.Sc.Eng. in Information and Communication Engineering Technologies from the Faculty of Engineering (LTH), Lund University, where he specialized in blockchain technology.

Nic Carter Founding Partner, Castle Island Ventures Nic Carter is a founding partner at Castle Island Ventures, a venture capital firm focused exclusively on public blockchains. Before founding Castle Island, Nic worked for Fidelity as their first cryptoasset analyst, where he devised research perspectives on public blockchains. He is the cofounder of Coin Metrics. He holds a degree in philosophy from the University of St Andrews and an MSc Finance and Investment from the University of Edinburgh.

• Potential sources for additional fallout in the cryptocurrency market
• Why might Binance’s auditor have quit
• Binance’s current situation generally, and what might the company’s future look like
• Game theory on calling out crypto scams
• What the future could be for Tether
• How US Treasury assets could be instrumentalized
• Would a potential collapse of Tether be positive for Bitcoin?
• How crypto regulation plays a role in the long-term
• How Fidelity can impact Bitcoin
• What the future might hold for the decentralized finance (DeFi) industry
• Bitcoin’s relative strength among a variety of other crypto crashes
• The prospects for Bitcoin’s price movement in the near term
• General thoughts on the collapse of FTX
• Is Solana dead or can it come back into favor?
• How the NFT ecosystem compares to the rest of the Ethereum ecosystem
• What are some optimistic viewpoints in crypto despite considerable recent volatility
• How government policy and regulation could shape the crypto market

He is one of America’s most renowned and accomplished entrepreneurs and helped make the internet what it is today. Steve Case’s entrepreneurial journey began in 1985 when he co-founded America Online (AOL), the largest internet-access subscription service company in the United States. He stepped down as CEO of AOL in 2000 after negotiating the largest merger in business history. He has an immense passion and appreciation for business, helping start several companies since leaving AOL. Steve has also helped shape government policy regarding issues relating to entrepreneurship and supports legislation that catalyzes startup ecosystems. One of his exploits is Revolution, where he serves as the Chairman and CEO. Revolution is a company focused on investing in the next generation of founders and helping startups grow. In our conversation, we talk broadly about innovation in America, his book Rise of the Rest, and the power of government policy. Learn about his professional background and journey at AOL, his achievements after leaving AOL, and why innovation is fundamental for the future of America. We also unpack the current thinking around government policy concerning crypto and tech, how he thinks the government will handle it, and what policy reforms to expect in the future. Hear about his company Revolution and how the company is helping drive and support entrepreneurial spirit in the country. We also discuss why he thinks entrepreneurs are vital, the value of research toward innovation, why Steve thinks you should be optimistic for the future of America, and much more.

• A brief background about Steve’s professional career journey at AOL.
• Whether the market bust of 2020 was caused by the collapse of tech stocks.
• Find out why the business model of AOL was daring in the early days.
• How Steve got involved in helping shape government tech policies.
• His opinion regarding government policy in the tech sector.
• Whether government policy will encourage innovation within tech and crypto.
• Learn how innovation can be the greatest leveler of opportunity and success.
• We discuss Revolution and his motivation for starting the company.
• Discover details about his book and the insight it provides readers.
• Steve outlines some of the companies in the Revolution growth portfolio.
• We unpack the shift toward passive investing that has occurred in recent years.
• Steve shares what he thinks will be the long-term trend in investment of capital.
• We discuss and compare private and public markets.
• Reasons for the brain drain and the concentration of capital in a handful of cities.
• The innovation that is happening around the country and why this is good.
• Learn about an interesting new application to help you invest properly.
• Where the biggest inefficiencies are concerning the various stages of venture capital.
• Differences in terms of companies needing assistance concerning fixed assets.
• Hear why you should be positive for the future of business in America.

From The Great Depression and the two World Wars to now COVID and the escalation of the War in Ukraine, the world has had its fair share of economic downturns. However, the way we recover from it seems different now than it was in the early 1900s. Here with us today to discuss the differences and similarities of past, present, and future recessions is Wharton Professor and esteemed economist, Jeremy Siegel. Jeremy shares his thoughts on the Monitor hypothesis, the potential severity of a recession, and how current technological advancements make an increase in productivity highly likely. We learn what the Federal Reserve could be doing better amidst the negative money growth we are currently experiencing before Jeremy gives us his take on digital currencies and why crypto may be a three-part revolution.

• Welcoming today’s guest, Wharton Professor and decorated economist, Jeremy Siegel.
• A look at Jeremy’s professional background.
• Jeremy’s thoughts on the Monitor hypothesis.
• What Jeremey thinks the severity of the an upcoming recession could be.
• How too much labor and inventory could compound a recession.
• Why innovation and automation may lead to a big increase in productivity in the near future.
• How Jeremy thinks today’s economic climate compares to the Smoot-Hawley act and others.
• Whether inflation can drop below zero, mimicking post-disaster periods of old.
• What the Federal Reserve could do to bring back money growth.
• A closer look at the negative money growth America is currently experiencing.
• Why Jeremy believes it’s no longer necessary to squeeze the economy to death to regain parity.
• Why increasing productivity should be our top priority.
• Whether a productivity rise is inevitable due to ever-changing technological advancements.
• Jeremy’s take on digital currencies.
• Cryptocurrency as a possible three-part revolution.

Programming has transitioned from machine code to punch cards, from assembly to high-level languages, and from C to dynamic languages, then to Python. Now, we are heading into the next frontier with artificial intelligence (AI) technology, and today’s guest, Amjad Masad, is one of the leaders designing the future of software engineering. During this episode, Amjad explains how the challenges he came up against during his early days as a programmer inspired him to make programming more accessible and how he is turning that dream into a reality through his privately-held company, Replit. Among other things, you’ll hear why Replit might appeal to both novice and highly experienced programmers, their “code as data” approach, the exponential growth that the company has experienced since its founding in 2016, and why Amjad believes that in the coming years, a single software developer might have the same productivity level as a 100 software developers today!

• Amjad Masad, the co-founder and CEO of Replit, shares what the company does and the vision that drives them.
• The problem with the programming world that inspired Amjad to found Replit.
• What the Replit prototype was like in its infancy.
• Amjad’s breakthrough that went viral.
• The early years of Amjad’s career.
• How Replit has grown since its founding in 2016.
• Value that Replit aims to provide to beginner and senior programmers.
• Where the idea of using code as data originated.
• How Replit acquired its name.
• Impacts of the Transformer revolution.
• How Transformers are programmed.
• Amjad explains what his Ghostwriter program does.
• Valuable lessons Amjad learned from The Mythical Man-Month.
• Software engineering’s latest “silver bullet.”
• What Amjad sees as the role of software engineers in the future.
• A high-level overview of the history of programming and the developments that Amjad expects to see in the coming years.
• Factors that might make Replit stand out from its competitors.
• What Amjad wishes he knew from day one of building Replit.

MyWallSt is built on a simple mission: to get the world investing successfully. During today’s discussion, co-founder Emmet Savage shares a wealth of insights from his investment journey, which began in the early 90s. Listeners will become privy to six golden rules Emmet has learned the hard way during his career, plenty of which can be applied far beyond financial decision-making. Hear the origin story of his app, Learn by MyWallSt, and how it has begun to make a meaningful impact on people’s lives. Hear about how Emmet has built the algorithm behind Horizon, another product by MyWallSt, and find out how he summarizes his long-term vision for the business. We discuss what you can learn from stock investing which extends beyond what you may expect, and Emmet weighs in on the role of AI and Robo-Adviser in changing the landscape today. Tune in to hear all this and much more.

• Welcome to Emmet Savage, co-founder of MyWallSt.
• Emmet’s history with investing in Irish and US markets.
• MyWallSt’s origins and their opportunity to disrupt stock market education and investing.
• John and Emmet’s simple mission at MyWallSt: to get the world investing successfully.
• Emmet’s first experiences of investing during the .com boom.
• The first share Emmet invested in with his father was in the early 90s.
• How ‘nothing beats free’ has become a rough rule of the internet.
• Six golden rules Emmet learned the hard way when the .com bubble burst.
• The conjoined rules of thinking long-term and not borrowing.
• Why diversification is critical to success.
• Buying what you believe in for your best success.
• What it means to “invest what you can, when you can.”
• Two reasons people choose not to invest.
• The origin story behind the app, Learn by MyWallSt.
• How Learn by MyWallSt was built with the rewards of short bursts of learning in mind.
• The story of Michelle, who upskilled herself on the bus, leading to investment success.
• What MyWallSt’s $1000 a year service, Horizon, works to do.
• The long-term vision behind Emmet’s work at MyWallSt.
• Similarities between the bursting of the .com bubble and the current climate.
• Understanding that a part of your brain lights up when you bet on something.
• The double-edged sword of human temperament.
• What you can learn from stock investing beyond the obvious.
• Emmet’s advice to keep your nerve when everyone else is panicking.
• Why the customization of messaging is so important: we remember feelings.
• The fact that AI and Robo-Adviser may overtake us eventually.
• What happens the moment a magic formula is released.

Today’s guest Chip Walter is a Navy veteran and Managing Director of Marlinspike Partners, a company working to solve the technological needs in space, cybersecurity, and artificial intelligence (AI) through investment. Tune in to hear about Chip’s background in the Navy, how he ended up at Marlinspike, and his experience flying a P-3 plane. We discuss the roles of the Prime contractors in defense and intelligence, the process of trying to sell weapons to the Department of Defense, and a common mistake startups should to avoid. The timeline of the growth of space technology is increasing at a rapid rate. In this episode, Chip tells us why he feels the USA needs to match the presence of other dominant countries in space in order to defend itself before he explains how cyber fits into war-fighting as the fifth domain.

• A brief introduction of today’s guest, Chip Walter, and all about his background.
• What Chip thinks the US needs to do to improve defense and intelligence and maintain its position.
• What it’s like to try to sell to the Department of Defense or the intelligence community.
• What small companies in this industry should be aiming for.
• Why startups should be careful of trying to do too much.
• What Chip sees happening in space in terms of defense and investment at Marlinspike.
• Why presence in space is essential to achieve military dominance.
• Why cyber is the fifth domain of war-fighting.
• How AI fits into war-fighting.
• Chip tells us about his days flying the P-3 plane.

Here at ARK, the number one question we hear is: has innovation bottomed? Steven Vannelli is seeing signs that innovation may have hit the bottom and that there might be a significant turning point ahead. Steven is Founder and CEO of Knowledge Leaders Capital and Chief Investment Officer of the Knowledge Leaders Funds. There, he oversees investment strategy, asset allocation, and security selection, and leads development on the firm’s analysis of intangible capital, studying how it affects corporate profitability and wealth creation. According to Steven’s most recent Quarterly Strategy Report, global innovation appears to have bottomed, and in this episode, he breaks down what he means. We take a deep dive into the stats that suggest that innovation could be relatively undervalued from a historical perspective.

• The motivation behind Knowledge Leaders and their unique focus on intangible assets.
• Indications that innovation as a factor bottomed earlier in 2022, according to Steven.
• Defining intangible assets and some examples that illustrate their value.
• Understanding the relationship between present intellectual property and future earnings.
• A look at the first quintile of the S&P 500 and what it means for innovation.
• Where research and development spenders in the S&P 500 are concentrated.
• Steven shares his view on how companies can benefit from capitalizing on R&D.
• Indices that Steven uses as proxies for innovation.
• The Bloomberg R&D Leaders Index versus the Goldman Sachs Non-profitable Tech Index.
• A look at financial leverage based on reported data.
• The potential merits of comparing the 2000s boom and bust cycle with innovation today.
• Potential ramifications of the tech race between the U.S. and China.
• How geopolitical risk can slow innovation.

With steadily increasing technological advancements and a new way of living with the global pandemic, Data as a service (DaaS) has become a very attractive business model. Taking full advantage of the growing internet is today’s guest, CEO of privately held SafeGraph and the host of The World of DaaS podcast, Auren Hoffman. To paraphrase our guest, SafeGraph sells data about physical places, they sell a collection of facts. Auren’s background as a software engineer launched him into the world of tech, and he explains why he believes DaaS is so important in today’s world. We learn that SafeGraph prioritizes data over analytics, why trading datamay be / appears to be better for business than selling it, and why value and accuracy could be / he believes, etc more important than data quantity. Software tools are leading to both market concentration and fragmentation, and we see how software’s evolution to be more text-prompt-based can be great for the everyday consumer. Auren is also an angel investor and he tells us what he prefers investing in and why he finds the current market so fascinating. Before discussing the slippery slope of universal standards, our guest shares why podcasting brings him joy and why being able to switch between platforms and systems is becoming a major selling point. Auren is encouraged by the competitive nature of the data space and he explains why traditional banks have a tough battle to deal with.

• Introducing today’s guest, DaaS expert and serial entrepreneur, Auren Hoffman.
• Auren’s business background and how he got into tech.
• What SafeGraph does as a business.
• The definition of a “data as a service” (DaaS) company and why it matters in today’s world.
• How dealing in data is simply working with facts.
• Whether Auren has been tempted to add analytics to his data-focused business.
• How Auren feels about the ever-increasing capabilities of data software tools.
• How his business’s data class differs from the others that prioritize analytics.
• Data-direct monetization and why it’s a bad idea for businesses to adopt the trend.
• Why Auren believes trading data is more beneficial than selling it.
• The difficulties of being in the data business.
• Why Auren’s company needs to provide both the facts and the interpolation between them.
• According to Auren, how data quantity is not enough and why value and accuracy also matter.
• The tipping points within data accuracy.
• SafeGraph’s prototypical customer.
• How Auren bills his clients and why he thinks more people are able to use modern data software.
• Whether software tools are leading to market concentration, fragmentation, or both.
• How Auren’s customers are implementing the data they receive from him.
• Why data software is evolving to be more text-prompt-based.
• How SafeGraph is competing with Google, just like everybody else.
• What Auren is investing in and what he finds interesting about the current marketplace.
• How he approaches the problem of customer acquisition within SafeGraph.
• Why Auren, as a CEO, is running a podcast.
• How to navigate systems that have become resistant to changes in processed data.
• The slippery slope of universal standards, and why Auren believes they are still important.
• What Auren thinks about the competitive nature of the current data space.
• The displacement of customer-sticking in banking.

When his six-year-old daughter was diagnosed with acute lymphoblastic leukemia, Tom Whitehead was determined to do whatever it took to save her life. In 2012, Emily Whitehead became the first patient enrolled in a clinical trial of a new immunotherapy treatment known as CAR T, which would ultimately turn her immune system into a powerful weapon against cancer. A decade later, this cancer treatment is now widely used and has gone on to save hundreds of lives. Today, in this special double episode of For Your Innovation, you’ll not only hear from Tom Whitehead as he shares the details of their miraculous story, recounting the innovative research, faith, and support that got them through the most difficult time of their lives, but you’ll also gain additional insight into CAR T therapy from biologist and infectious disease physician, Dr. Alexander Marson. Dr, Marson is a Professor at UCSF and the Director of the Gladstone-UCSF Institute of Genomic Immunology. His lab focuses on adapting CRISPR genome editing techniques to human immune cells in order to understand the genetic programs controlling immune cell function and to manipulate T cells to generate cell-based therapies for a wide range of diseases, including cancer. For a fascinating look at the patient/family/caregiver experience of cancer immunotherapy, intersected with that of a scientist who works on these novel and innovative therapies every day, listen to today’s episode!

Today’s guest is MIT professor, chemical engineer, scientist, inventor, and investor Dr. Bob Langer. Dr. Langer has over 1,400 granted or pending patents and has been cited 374,000 times (and counting)! As a co-founder of Moderna, he has great insights into the potential of mRNA to treat diseases of various descriptions. Joining us to pick this extraordinary mind is clinically trained entrepreneur, Dr. Charlie Roberts. In this conversation, we discuss emerging biotechnologies, the potential of artificial intelligence (AI) in this space, as well as what might be attributed to the current downturn of the market. Dr. Langer lists potential time-to-market accelerators for new therapies and vaccines and shares his advice for those looking to make an impact from an academic and/or entrepreneurial standpoint. Tune in to hear more about the innovations Dr. Langer has been involved in over the years, and what we can look forward to in the future!

• Dr. Bob Langer highlights his favorite patent.
• Dr. Langer’s career achievements.
• Some factors impacting the current biotech market downturn.
• The correlation between magic and science.
• What mRNA is and why it’s an ideal candidate for treating disease.
• The personalized cancer vaccines Merck and Moderna are currently developing.
• Under what circumstances mRNA isn’t the solution.
• The emerging biotechnologies Dr. Langer is most excited about.
• The applications of organs on a chip.
• The potential of AI in the biotech space.
• Potential time-to-market accelerators for new therapies and vaccines.
• How to make an impact in the academic and entrepreneurial biotech spaces.
• The importance of understanding intellectual property.
• The team aspect of innovation.
• Dr. Langer’s tales of perseverance.
• Strategies for enforcing IPs.
• Dr. Langer’s delivery expertise.
• How he’s balanced his work and family life over the years.

The world of cryptocurrency and blockchain technology is a rapidly evolving sector that has grown tremendously in popularity in recent years. However, the original philosophy of crypto and blockchain has been altered by interests in capital gain and convenience, eroding the founding ethos of the technology. This was not acceptable to today’s guests, Arthur and Kathleen Breitman, who decided to build a blockchain technology that ensured the original spirit of the technology was preserved. Arthur and Kathleen are the creators of Tezos, a public blockchain that enables decentralized governance by allowing self-amendments. In today’s conversation, we dive into the underlying Tezos protocol and discover the various ways people are applying it. We learn what a rollup is, the different versions of rollups, and what data availability is as a concept. Hear about their approach to scaling, how scaling has changed from a research to an engineering problem, and why the Breitman’s believe gaming will catalyze the next wave of users of blockchain technology.

• Background about our guests and what got them interested in crypto.
• The motivation for Arthur and Kathleen to build their own blockchain.
• How the narrative around cryptocurrencies has evolved and where Tezos fits in.
• How Arthur and Kathleen formed the idea of on-chain governance as a middle ground.
• An outline of the upsides and downsides to the on-chain governance approach.
• The shift in motivation and ethos of the average crypto-user.
• Past updates and the current state of the network.
• Whether scaling is achieved by upgrading the core or Layer 2.
• What data availability is as a concept and why it is essential.
• A breakdown of a rollup and the various approaches to scaling.
• What rollup approach the Tezos network uses to scale.
• The many ways people are using the Tezos network.
• How Arthur and Kathleen measure the growth and use of the Tezos network.
• What they think will cause more people to adopt the network in the future.
• Why venture capitalists have become interested in cryptocurrencies.
• Comparing the railroads of the 1900s with public blockchains that exist today.
• Ways in which capitalization of crypto and blockchain technology will be overcome.
• An outline of the future for Tezos and how the community is involved.
• Arthur and Kathleen’s take on the regulatory environment and how it’ll change in the future.

Today, Will Summerlin hosts a conversation with Manu Sharma, founder and CEO of Labelbox, a privately held data curation and artificial intelligence (AI) company. In the episode, Manu unpacks the role of AI in powering real-world solutions, discusses why he believes the AI paradigm shift is really all about data, and what motivates him to create a product suite to orchestrate AI activities. We also dive into the rapid AI driven transformations that enterprises are facing today, how they navigated solutions for data engines before Labelbox, and what the impact of unsupervised learning is on the need for labeling. You’ll hear why Manu believes AI is more accessible than ever before, and how John Deere is implementing artificial intelligence in their daily work. Additionally, you’ll hear about the role of the government, and about remote and in-person culture.

• How Labelbox tries to improve mission-critical AI systems across industries by building software products.
• Manu’s experience working in satellite imaging at Planet Labs before starting Labelbox.
• What it was like to see AI applications powering real-world solutions for the first time.
• Why the Manu believes the AI paradigm is really all about data.
• How the need to create a product suite to orchestrate AI activities motivated Manu to create Labelbox.
• The rapid AI driven transformations that enterprises using Labelbox experience today.
• How enterprises navigated solutions for data engines before Labelbox.
• How Tesla has built a data engine to create a closed loop system.
• What AI labeling actually is.
• The impact of unsupervised learning on the need for labeling.
• Three layers of AI capabilities.
• Why AI is accessible to everyone today.
• How AI powers John Deere’s tractors through See & Spray technology.
• The biggest challenge that AI adopters are facing today.
• Manu’s prediction for the rate of progress in AI technology.
• Government progress in AI and digital warfare.
• The importance of finding people who are on board with the values of the company.
• Why Labelbox has embraced remote culture.
• Working together in person and building a team culture at Labelbox.

On this episode of For Your Innovation, we showcase Episode 34 of our monthly video series, “In the Know,” from October 7, 2022. ARK CEO, CIO and Founder Cathie Wood, weighs in on M2 growth, inventory pile-ups, liability driven investing, commodity prices, and why we believe the Fed is making a mistake as they base policy on lagging economic indicators. She discusses fiscal policy, monetary policy, market signals, economic indicators, and innovation.

To read our full open letter to the Fed, click here.

To watch the video version of In The Know, click here.

Please note: as of 6/30/22, ARK’s clients own greater than 1% of the shares outstanding of Beam Therapeutics Inc.

On today’s episode, ARK analyst Ali Urman hosts the inventors of the adenine base editor (ABE) and the cytosine base editor (CBE) Nicole Gaudelli and Alexis Komor, respectively. Nicole is the Senior Director and Head of Gene Editing Platform Technologies at Beam Therapeutics, and Alexis is an Assistant Professor of Chemistry and Biochemistry DNA damage and repair and Genome editing at the University of California, San Diego. Alexis and Nicole worked together to develop a pair of CRISPR base editors, capable of engineering precise single-base substitutions. In today’s conversation, Alexis and Nicole discuss their discovery of base editing, what base editing is, how they grew interested in the space and what the future applications of this discovery might be!

• Alexis and Nicole on the discovery of base editing
• What exactly base editing is
• How Alexis and Nicole grew interested in base editing
• Alexis’ interest in directed evolution
• How CRISPR and antibiotics integrate
• What itwas like working with Dr. David Liu
• The potential disease curing applications of base editing
• Why Alexis decided to go into academia rather than corporate
• Why Nicole decided to go into industry instead of academia

On today’s episode, ARK analysts Max Friedrich and Will Summerlin are joined by co-founders and co-CEOs of Titan, an online investment management platform, Joe Percoco, and Clay Gardner. In this episode, we hear how these business partners met and founded their company, their mission, and vision, how they remove the ‘middleman,’ and more. We also discuss what Titan believes prevents investors from trying to build a distribution channel, and what information investors care about the most. Joe and Clay also share some new strategies they’ve launched on their app, and we delve into how they see their user experience evolving and what their biggest challenges have been thus far. This dynamic duo also tells us their entrepreneurial story, how their vision has changed, and they give out some advice to their younger selves.

• An introduction to today’s guests, Joe Percoco and Clay Gardner.
• How Joe and Clay met.
• How Joe and Clay founded Titan.
• Joe and Clay explain what Titan is and what their mission is.
• What is happening with asset classes today.
• What prevents institutional investors from trying to build a distribution channel with retail.
• How Titan tries to remove the ‘middleman.’
• What information Titan believes investors care about the most.
• The new strategies launched by Titan and how investors can engage with them on the app.
• The details associated with Titan’s new interval funds.
• The feedback Titan has gotten up until this point.
• How Titan sees the user experience and the product mix evolving in the future.
• Joe and Clay’s entrepreneurial story and how their vision has changed over time.
• Joe and Clay share some advice for their younger selves.
• What Joe and Clay they look for in an ideal venture partner.
• The biggest challenges Titan is facing and what Joe and Clay are doing to overcome them.

In this episode of For Your Innovation, we sit down with multi-hyphenate Kimbal Musk to talk about food justice, Big Green, and its latest branch, Big Green Decentralized Autonomous Organization (DAO). Billed as the first non-profit-led philanthropic DAO, this experiment is aiming to use the power of decentralization and automation to impact lives on the most basic level. Kimbal shares a little about why this work has him so excited and feels like the natural progression of the efforts he has been making in the past years, before we dive into the ethos behind Big Green, and how they are tackling the constant challenges that are associated with this kind of philanthropy. Our guest also unpacks the intricacies of fundraising, the impacts of the pandemic, and what transparent growth means to him. We get to look ahead to the future vision of the project, and Kimbal talks about the cyclical nature of growth seasons in all industries and how this compares to the projects for decentralized technology.

• The current work and projects that are getting Kimbal most excited.
• The three ways that Big Green approaches trying to change lives through growing food.
• Kimbal’s reflections on the challenges facing philanthropic work.
• How Big Green DAO aims to tackle some of the fundraising issues.
• The pivots and shifts that Big Green made in response to the conditions of the pandemic.
• The transparent growth of Big Green DAO and how automation makes vetting easier.
• Confronting concerns around the ability of donors to vote.
• Kimbal shares his aspirations for Big Green DAO in the near future.
• The evolution of Kimbal’s crypto philosophy and the cycles of bubbles.
• Early attitudes towards Big Green DAO, and the usefulness of branding it an ‘experiment.’
• Where to learn more and get involved with this great project!

On today’s episode of the For Your Innovation podcast, our Chief Futurist Brett Winton interviews Bloomberg’s Eric Balchunas. Eric Balchunas is Senior ETF Analyst at Bloomberg Intelligence, where he leads the ETF and passive fund research and contributes to Bloomberg Opinion. He is a frequent speaker at industry events and conferences, as well as the co-creator of the Bloomberg podcast Trillions and Bloomberg TV’s ETF IQ. Eric is also the author of the recently released, The Bogle Effect, a book about how john bogle and vanguard turned wall street inside out and saved investors trillions. Brett and Eric discuss The Bogle Effect, and Vanguard’s John Bogle in detail, indexation in the investment management industry, passive vs. active investing[1], the media’s coverage of the investing world and much more.

• Eric Balchunas’ recent book; The Bogle Effect
• Indexing and how John Bogle brought indexing to Wall Street
• Eric explains risks of indexing for retail investors
• The size and scale of the passive fund market
• Eric’s views on risk within the active fund industry
• How exchange traded funds (ETFs) fit into the innovation of financial innovation
• How ETFs compare to index funds
• The media’s coverage of the investment management industry
• Eric’s stock ETFs and the risks they may pose to investors
• What the future might be for indexation and ETFs
• What Eric thinks is the primary function of investment advisors
• The potential of mass adoption of cryptocurrency based investment products

Today CEO and CIO Cathie Wood and Angie Dalton engage Caitlin Long, the CEO and Founder of the privately owned Custodia Bank, in an insightful conversation about her work and her particular take on the possibilities of crypto technologies in the current climate. Caitlin’s approach is one we do not hear about so often, and we get to explore how Custodia Bank is hoping to harness the powers of new technology and at the same time focus on proper regulation adherence and improving the dominant banking systems. We talk about the work that Caitlin is doing as a stepping stone and how we might get through this transitional period of integration, and Cathie and Angie get to ask our guest a number of very probing questions on what a truly modern payment ecosystem would look like. For Caitlin, it is a no-brainer to utilize this powerful, open, and cost effective technology to upgrade banking services.

• The significance of Wyoming to Caitlin’s work and the inspiration drawn from South Dakota.
• Caitlin paints a picture of the regulatory backdrop for her efforts to start a bank.
• Creating a bank in new infrastructure while integrating digital assets into the traditional banking system.
• Why access to the Federal Bank is necessary for this project.
• The likely impact of ‘open banking’ on the status quo and the incumbent powers.
• Exploring the idea of rehypothecation and Caitlin’s approach to lending and leverage.
• Recent lessons in transparency for policymakers.
• A little about Custodia Bank, its bank charter, and the problems they are aiming to solve.
• Adjusting the narrative around crypto and non-compliance with regulation.
• Comparing crypto with card networks and how the infrastructure might be replicated.
• Caitlin explans how Custodia Bank compares with Silvergate and Circle.
• Caitlin’s feelings about moving back to Wyoming!

The idea of artificial intelligence (AI) may appeal to many businesses for its cost-saving potential, but ARK believes in its ability to enable scaling reaches far beyond. Today, we are joined by the CEO of Scale AI, Alex Wang, to talk about the problem Scale was born out of, and its mission to enable every organization to utilize AI technology. In our conversation, we touch on everything from Scale’s origin story and its success in improving data set curation systems for machine learning algorithms, to the involvement of humans in the trajectory of AI systems. Alex breaks down the paradigm shift from human as author and editor to AI as author and human as editor, before explaining the market-enabling potential of AI. We discuss the geopolitical relevance of AI and what would could be required for any country to take the lead as an AI superpower. Listen in to find out more about the scaling potential of AI for businesses and the role Scale AI is playing to help make this possible for organizations all over the world!

• Introducing Alex Wang, CEO of Scale AI.
• What Scale AI does and who they serve.
• Alex shares the origin story of Scale AI.
• The exponential gains Scale has driven in the efficiency of data-producing systems for machine learning algorithms.
• The paradigm shift from human as author and editor to AI as author and human as editor, according to Alex.
• Alex’s prediction for the involvement of humans in the trajectory of AI systems.
• The market-enabling potential of AI.
• The notable rate of improvement in the AI field.
• The magnitude of scaling Scale AI enables for its customers.
• Alex’s view of the broader trend TikTok reflects, in terms of AI efficiency in a business context.
• The role AI could play in national security, and why Alex believes regulation is essential.
• The importance of AI from a geopolitical standpoint.
• The gulf of understanding between Silicon Valley and DC regarding AI, as told by Alex.
• Alex explains how Scale fulfills its mission to enable every organization with great AI technology.
• How Scale communicates the true value of AI to its customers.
• Examples of the use of AI in various industries.
• The challenges traditional companies face when it comes to embracing AI.
• What differentiates Scale from its competitors.

Today Frank Downing and Nick Grous are joined by current CEO of Polygon Studios, Ryan Wyatt! A lifelong gamer and technology enthusiast, Ryan shares his journey through these worlds as a user and then as a professional before we dive into Polygon and some of the foundational elements of what they are doing in the gaming and non-fungible token (NFT) space. Ryan talks about the Polygon protocol, and also how the company relates and compares to its peers and adjacent technologies. From there, the bulk of our conversation is spent unpacking what Polygon Studios is bringing to the table and how they are aiming to attract customers through their unique value offer. We also cover exciting avenues in the gaming world and weigh how much of this is going to the move into the Web3 domain. Ryan also comments more generally on the buy-in to decentralization, interoperability concerns, and his perspective on the realities of the metaverse.

• Some background from Ryan on his journey through the world of gaming and media.
• Unpacking the Polygon protocol and how Polygon Studios fits into the ecosystem.
• Introducing Polygon’s role in the context of Ethereum and companies like Solana.
• The main products that Polygon is targeting as a means of attracting customers.
• Ryan shares some of the development happening at Polygon.
• The new toolset that is now available for game development.
• Possibilities for the future of the play-to-earn model and cosmetic purchase options.
• Considering mass adoption of Web3 and the current readiness for this.
• The spectrum of investment in the idea of decentralization.
• Interoperability arguments and Ryan’s thoughts about how best to tackle some of the issues.
• The transition that Ryan made from YouTube to Polygon and his reflections on the contrast.
• Ryan’s perspective on the potential of the metaverse.

Today, ARK analysts Frank Downing and Yassine Elmandjra and research associate David Puell join the For Your Innovation podcast to provide an update on the cryptocurrency market. Tuning in, you’ll hear all about what the last three months have meant for cryptocurrency, what led to Three Arrows filing for bankruptcy, where we are in the broader cost basis of the market, the state of the current decentralized finance (DeFi) infrastructure, and the biggest learnings from this turmoil. We also discuss how we believe all of this might play out for Ether, the path to recovery, the implications of the security regulation uncertainty of Coinbase, and the Tornado Cash incident. We even give you ARK’s market analysis of the broader price action featured in The Bitcoin Monthly! Be sure to subscribe to the Bitcoin Monthly, here.

• What the last three months have meant for cryptocurrency.
• What led to Three Arrows filing for bankruptcy.
• A market analysis of the broader price action that was featured in July’s edition of The Bitcoin Monthly.
• ARK’s view of where we are in the broader cost basis of the market.
• ARK’s conclusions from this turmoil and the state of the current DeFi infrastructure.
• How all of this might play out for Ether in the short and mid-term future.
• ARK’s metrics showing that the path to recovery could be well on its way.
• The recent security regulation and uncertainty around some of Coinbase’s listings.
• The Tornado Cash incident and its implications.

Disclsoure

Please note, companies that ARK believes are capitalizing on disruptive innovation and developing technologies to displace older technologies or create new markets may not in fact do so and/or may face political or legal attacks from competitors, industry groups, or local and national governments.

ARK aims to educate investors and to size the potential opportunity of Disruptive Innovation, noting that risks and uncertainties may impact our projections and research models. Investors should use the content presented for informational purposes only, and be aware of market risk, disruptive innovation risk, regulatory risk, and risks related to Deep Learning, Digital Wallets, Battery Technology, Autonomous Technologies, Drones, DNA Sequencing, CRISPR, Robotics, 3D Printing, Bitcoin, Blockchain Technology, etc. Cryptocurrency Risk. Cryptocurrencies (also referred to as “virtual currencies” and “digital currencies”) are digital assets designed to act as a medium of exchange. Cryptocurrency is an emerging asset class. There are thousands of cryptocurrencies, the most well-known of which is bitcoin. Cryptocurrency generally operates without central authority (such as a bank) and is not backed by any government. Cryptocurrency is not legal tender. Federal, state and/or foreign governments may restrict the use and exchange of cryptocurrency, and regulation in the U.S. is still developing. The market price of bitcoin and other cryptocurrencies have been subject to extreme fluctuations. Similar to fiat currencies (i.e., a currency that is backed by a central bank or a national, supra-national or quasi-national organization), cryptocurrencies are susceptible to theft, loss and destruction. Cryptocurrency exchanges and other trading venues on which cryptocurrencies trade are relatively new and, in most cases, largely unregulated and may therefore be more exposed to fraud and failure than established, regulated exchanges for securities, derivatives and other currencies. Cryptocurrency exchanges may stop operating or permanently shut down due to fraud, technical glitches, hackers or malware, which may also affect the price of cryptocurrencies. Cryptocurrency Tax Risk. Many significant aspects of the U.S. federal income tax treatment of investments in bitcoin and other cryptocurrencies are uncertain and still evolving.

The content of this presentation is for informational purposes only and is subject to change without notice. This presentation does not constitute, either explicitly or implicitly, any provision of services or products by ARK and investors are encouraged to consult counsel and/or other investment professionals as to whether a particular investment management service is suitable for their investment needs. All statements made regarding companies or securities are strictly beliefs and points of view held by ARK and are not endorsements by ARK of any company or security or recommendations by ARK to buy, sell or hold any security. Historical results are not indications of future results. Certain of the statements contained in this presentation may be statements of future expectations and other forward-looking statements that are based on ARK’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. The matters discussed in this presentation may also involve risks and uncertainties described from time to time in ARK’s filings with the U.S. Securities and Exchange Commission. ARK assumes no obligation to update any forward-looking information contained in this presentation. Certain information was obtained from sources that ARK believes to be reliable; however, ARK does not guarantee the accuracy or completeness of any information obtained from any third party. ARK and its clients as well as its related persons may (but do not necessarily) have financial interests in securities or issuers that are discussed.

On this episode of FYI, we showcase our latest episode of In The Know, a monthly video series on which our CEO and CIO Cathie Wood discusses fiscal policy, monetary policy, market signals, economic indicators, and innovation. You can find the full In The Know video series at our video center here.

Cathie also weighs in on the Inflation Reduction Act, productivity, inventory build-ups, the latest employment report, commodities, why we’re already in a recession, and more. She also touches on the Bitcoin Monthly, a Bitcoin “earnings report” that details relevant on-chain activity and showcases the openness, transparency, and accessibility of blockchain data. Please subscribe here to download The Bitcoin Monthly Report.

• Inflation Reduction Act
• Productivity
• inventory build-ups
• The latest employment report
• Why commodities can be a good market indicator
• Why we’re already in a recession
• The Bitcoin Monthly

As improbable as it may seem, the metaverse is well under construction, but not in the way it’s been communicated to us in the mainstream. Joining us today to reconstruct all we know about the metaverse and its potential is Herman Narula, the co-founder and CEO of the privately owned metaverse technology company, Improbable. Improbable isn’t necessarily taking a different approach, they’re trying to solve a completely different problem. In this episode, we hear how their aim and approach differ from those of other game developers and the relationship the company has with the traditional gaming sector. Herman describes both the business and discovery model of Improbable’s M2 platform and the extent to which interoperability could be possible. We delve into blockchains and their role in the metaverse, which should fair best in the realm, and how M2 interacts with blockchains. Furthermore, Improbable has partnered with Yuga Labs: “The NFT Company Taking Over the World,” and Herman describes the intention behind it and what the partnership involves, before breaking down how he defines and views NFTs (Non-Fungible Tokens). Tune in to hear Herman’s thoughts on augmented and virtual reality, why he believes presence is more important than immersion, and discover how Improbable is making value transfer possible!

• Herman Narula gives an overview of his metaverse tech company, Improbable.
• How Improbable interacts with game engines but exceeds their usual capabilities.
• How Improbable’s aim and approach differ from that of other game developers.
• The convergence of technologies required to solve the gaming problem identified by Improbable.
• The flexibility and complexity of the platform and the resulting challenges.
• Why Herman has chosen to make everything as modular as possible for users.
• The relationship Improbable has with the traditional gaming sector.
• The industries that are most interested in what the company has to offer.
• Herman defines the metaverse and explains how the term is being mishandled in the mainstream.
• The benefit of the metaverse and how it differs from a video game.
• The benefits of blockchain technology and its role in facilitating value transfer in the metaverse.
• Improbable’s partnership with Yuga Labs in the NFT space.
• The predicted time-horizon for the full-functioning of the metaverse.
• How interoperability works in the M2 context and how Improbable has created a common technical basis between worlds.
• The biggest hurdles Improbable is currently facing.
• The business model of the platform and how it differs from existing online platforms.
• Why Herman prefers to use a link-based discovery model.
• How the M2 network will operate and how it interacts with blockchains.
• Herman predicts which blockchains will be most successful in the metaverse.
• How Herman defines NFTs
• What makes the M2 platform so appealing, without the need for a network effect.
• Why Herman considers Improbable and M2 to be powerful in the metaverse space.
• AR and VR, and the difference between presence and immersion.
• What Herman’s book, Virtual Reality,

E-commerce is taking the world by storm and today, we are joined by the President of Bukalapak, Teddy Oetomo, to find out how they’re revolutionizing the market in Indonesia. Bukalapak is a publicly traded Indonesian e-commerce company operating as a platform for both online and offline services for smaller retailers. The company partners with mom-and-pop kiosks to make its services easily accessible to customers in a cash-dominant society while enabling these small businesses to increase their revenue. In our conversation with Teddy, we learn more about Bukalapak and the Indonesian e-commerce market, and how the country’s unique socio-economic factors have lent to Bukalapak’s unique e-commerce strategy. We find out how the Indonesian market differs from other markets, and the various customer journeys available with Bukalapak. Teddy fills us in on Bukalapak’s acquisition strategy, financial services, and future plans. Tune in to find out about the nuances of the ever-expanding Indonesian e-commerce market and the versatile approach Bukalapak has adopted to meet the country’s needs.

• Teddy Oetomo’s career background and his current role as President of Bukalapak.
• Indonesia’s recent history in terms of digitization.
• The socio-economic factors lending to Bukalapak’s unique e-commerce strategy in Indonesia.
• How the Indonesian market differs from other markets around the world.
• The nuanced e-commerce customer journey in Indonesia.
• The role of mom and pop kiosks in Bukalapak’s business model.
• Bukalapak’s acquisition strategy.
• The financial services Bukalapak offers, and is working towards.
• The typical financial services setup for convenience stores in Indonesia.
• The room for growth Teddy has identified in the financial services sector.
• The role of Bukalapak as the bridge to financial inclusion and digital transformation.
• The landscape of social media in Indonesia.
• Why Bukalapak is avoiding a single-channel strategy.
• The monetization capabilities of gaming and game items.
• The greatest challenges Teddy faces as he strives to reach the company’s goals.

Please note: as of 3/31/22, ARK’s clients own greater than 1% of the shares outstanding of Roku Inc.

We believe there’s a major shift taking place in the TV ecosystem in terms of people moving from linear (cable) TV to connected (streaming) platforms and it’s only going one direction. The advertising world hasn’t quite caught up; In Roku’s first quarter earnings call, CEO Anthony Wood reiterated that US audiences spend 46% of their TV time on streaming while advertisers spend only 18% of their TV ad budgets on streaming.[1] We believe there is an enormous investment opportunity here, and in today’s episode we are going to be talking about why we believe Roku, the only purpose-built operating system for TVs today, is positioned to be a prime beneficiary of the shift from linear to connected TV. Tune in today to hear our predictions for the next five years, the factors required for our thesis to crystalize, exciting developments taking place at Roku, and more! You can read the full Roku valuation blog here.

• An overview of what Roku is.
• How the TV ecosystem has shifted.
• The drop that we expect to see in the number of households using cable/broadcast (linear TV) in the US in the next five years.
• The number of households that we expect to be using connected TV (streaming) in the coming years.
• The mismatch between advertising dollars spent and engagement in the streaming space.
• A comparison between the amount of advertising dollars spent on connected TV and linear TV.
• How we predict global and US advertising spending will change in the next few years.
• Three key variables that our assumptions about Roku’s future depend on.
• How we expect Roku’s daily hour stream per account metrics to change by 2026.
• Roku’s approaches to driving revenue dollars.
• Live sports; what we believe to be the linchpin holding the linear TV advertising space together.
• The growth that we expect to see in global digital advertising spending by 2026.
• Why we think connected TV targeting can improve but linear TV targeting cannot.
• Our calculations of Roku’s gross platform monetization rate.
• Benefits of the Roku Pay offering (that we are monitoring very closely).

DISCLOSURE

The forecasted performance and price estimates herein are subject to revision by ARK and provided solely as a guide to current expectations. There can be no expectation that the specific security will achieve such performance or that there will be a return of capital. Past performance is not indicative of future results.

FORECASTED PERFORMANCE RESULTS ARE HYPOTHETICAL AND HIGHLY SPECULATIVE, AND PRESENT MANY RISKS AND LIMITATIONS. The recipient should not consider these estimated prices alone in making an investment decision. While ARK believes that there is a sound basis for the forecasts presented, no representations are made as to their accuracy, and there can be no assurance that such forecasts or returns will be achieved by the specific security.

The recipient is urged to use extreme caution when considering the forecasted performance, as it is inherently subjective and reflects ARK’s inherent bias toward higher expected returns. Any higher returns should be viewed as a measure of the relative risk of such investments, with higher forecasted performance generally reflecting greater risk. There is no guarantee that any results will align with the forecasted performance, and they might not be predictive. Some or all results may be substantially lower than projected results and, as with any investment, it is possible that you could lose money.

FORECASTED performance results (single security model simulation forecasts) have many inherent limitations. A recipient account might or might not hold this single security, and the account performance will be affected in proportion to its holding size and the amount of price fluctuation over time. No representation is being made that any client account will or is likely to achieve profits or losses tied to a security in the security model forecasts. In fact, there could be significant differences between these forecasted performance results and the actual results realized.

Forecasted performance has not been achieved by the security, and like all modeled, projected or hypothetical performance, it is important to note that there are multiple versions of a model, and ARK has a conflict of interest in that we have an incentive to show you the best performing results. These forecasts rely on models, which calculate hypothetical performance. Several of the limitations of hypothetical performance models include: 1) reliance on a variety of data obtained from sources that are believed to be reliable, but might be incorrect, inaccurate or incomplete and ARK does not guarantee the accuracy or completeness of any information obtained from any third party, 2) potential inclusion of inherent model creation biases, data discrepancies and/or calculation errors that could cause actual results to differ materially from those projected, 3) NO reflection of the impact that material economic and market factors might have had on investment decisions that would have been in actual portfolios being managed at the time and do not involve market risk, and 4) NO guarantee of future investment results. The forecasted results rely on assumptions, forecasts, estimates, modeling, algorithms and other data input by ARK, some of which relies on third-parties, that could be or prove over time to be incorrect, inaccurate or incomplete.

The forecasted returns are based on a variety of criteria and assumptions, which might vary substantially, and involve significant elements of subjective judgment and analysis that reflect our own expectations and biases, which might prove invalid or change without notice. It is possible that other foreseeable events that were not taken into account could occur. The forecasted performance results contained herein represent the application of the simulation models as currently in effect on the date first written above, and there can be no assurance that the models will remain the same in the future or that an application of the current models in the future will produce similar results because the relevant market and economic conditions that prevailed during the performance period will not necessarily occur. The results will not be updated as the models change, or any information upon which they rely changes. There are numerous other factors related to the markets in general or to the public equity security specifically that cannot be fully accounted for in the preparation of forecasted performance results, all of which can adversely affect actual results. For these reasons, forecasted performance results will differ, and could differ significantly from actual results. FORECASTED PERFORMANCE RESULTS ARE SUBJECT TO REVISION AND PRESENTED FOR ILLUSTRATIVE PURPOSES ONLY.

While ARK’s current assessment of the subject company may be positive, please note that it might be necessary for ARK to liquidate or reduce position sizes prior to the company attaining any forecasted valuation pricing due to a variety of conditions including, but not limited to, client specific guidelines, changing market conditions, investor activity, fundamental changes in the company’s business model and competitive landscape, headline risk, and government/regulatory activity. Additionally, ARK does not have investment banking, consulting, or any type of fee-paying relationship with the subject company.

Please note: as of 3/31/22, ARK’s clients own greater than 1% of the shares outstanding of Mynaric.

Mynaric CEO Bulent Atlan began his career as one of the first employees at the then newly-established SpaceX in 2004, having graduated from Stanford University and following completion of his studies at the Technical University of Munich. At SpaceX, he was essential in growing the company’s avionics department from seven people to over 200 and was as Vice-President responsible for the avionics of the Falcon rockets as well as the Dragon capsule. Bulent is now the CEO of Mynaric and Investment Partner at Alpine Space Ventures. Publicly owned, Mynaric produces the optical fiber for the skies and enables as a pioneer of laser communication extremely fast and secure wireless data transmission between aircraft, drones and satellites. On today’s episode, ARK Associate Portfolio Manager Sam Korus and Director of Research Brett Winton talk to Bulent about space laser communication, drone to drone communication, Mynaric’s partnership with the military and much more!

• Bulent Atlan’s introduction to the space industry and working at SpaceX
• Bulent’s road to becoming the CEO of Mynaric
• How a satellite system works without optical communication
• The opportunity to operate in countries with significant firewalls
• The precision of laser communication
• Drone to drone communication
• The role software plays in the performance of Mynaric’s systems
• The potential cost decline trajectory of orbital communications
• How much power is required to communicate with space laser technology
• Mynaric’s partnerships with Northrup Grumman and L3Harris

On this episode of FYI, we showcase our latest episode of In The Know, a monthly video series on which our CEO and CIO Cathie Wood discusses fiscal policy, monetary policy, market signals, economic indicators, and innovation. You can find the full In The Know video series at our video center: https://ark-invest.com/videos/

Today, Cathie highlights our latest initiative: The Bitcoin Monthly, an “earnings report” that details relevant on-chain activity and showcases the openness, transparency, and accessibility of blockchain data. Please subscribe here to download The Bitcoin Monthly Report: https://ark-invest.com/lp-bitcoin-monthly/ Cathie also weighs in on the Fed, inflation, deflation, yield curves, interest rates, gold and copper prices, the crypto markets, and more.

• An overview on our latest content initiative, the Bitcoin Monthly.
• Cathie’s views on the Fed, inflation and deflation.
• A closer look at yield curves and interest rates.
• Cathie’s view on commodity prices like gold and copper.
• What the current monetary and fiscal policy might mean for markets.
• What Cathie believes is happening in the cryptocurrency market.

Please note: as of 3/31/22, ARK’s clients own greater than 1% of the shares outstanding of Zoom Video Communications.

Read our full valuation article here.

According to ARK’s open-source research and model, Zoom’s share price could approach $1,500, compounding at a 76 percent annual growth rate in 2026. In today’s episode, Will Summerlin and Andrew Kim talk through their thesis for Zoom, as well as their open-source Zoom model that’s available on GitHub. They cover the type of top-down research that we do at ARK, as well as some of the research that they have done for Zoom. Tuning in, you’ll hear their bottoms-up analysis of Zoom as Will and Andrew dig into the modes that they believe Zoom has, as well as the competitive dynamics they think are going to play out in the communication software space. They also talk through their model and key drivers and, finally, close out with the overall AI opportunity that ARK sees playing out over the next decade and how they believe Zoom can capture some of that opportunity. For all this and more, make sure not to miss today’s conversation!

• The type of top-down research we do at ARK.
• Understanding the opportunity for communication software in the context of hybrid work.
• Why we believe Zoom is in a unique position to benefit from the trend towards AI productivity.
• Our bottoms-up analysis of Zoom’s people, management, and culture; product leadership; execution; and barriers to entry.
• Zoom’s infrastructure, enterprise readiness, AI data advantages, and third-party ecosystem.
• The four drivers that we attribute the most important to in our Zoom model.
• Unpacking the manual and Monte Carlo models of our Zoom Valuation Model on GitHub.
• Our bull and base forecasts for Zoom’s top-line growth.
• How we see Zoom capturing AI opportunity thanks to declining deep learning training costs, among other factors.
• The interesting role AI could play in making Zoom meetings more productive.
• We encourage you to download the model, put in your own assumptions, play around with it, and provide us with your feedback on Twitter!

DISCLOSURE

The forecasted performance and price estimates herein are subject to revision by ARK and provided solely as a guide to current expectations. There can be no expectation that the specific security will achieve such performance or that there will be a return of capital. Past performance is not indicative of future results.

FORECASTED PERFORMANCE RESULTS ARE HYPOTHETICAL AND HIGHLY SPECULATIVE, AND PRESENT MANY RISKS AND LIMITATIONS. The recipient should not consider these estimated prices alone in making an investment decision. While ARK believes that there is a sound basis for the forecasts presented, no representations are made as to their accuracy, and there can be no assurance that such forecasts or returns will be achieved by the specific security.

The recipient is urged to use extreme caution when considering the forecasted performance, as it is inherently subjective and reflects ARK’s inherent bias toward higher expected returns. Any higher returns should be viewed as a measure of the relative risk of such investments, with higher forecasted performance generally reflecting greater risk. There is no guarantee that any results will align with the forecasted performance, and they might not be predictive. Some or all results may be substantially lower than projected results and, as with any investment, it is possible that you could lose money.

FORECASTED performance results (single security model simulation forecasts) have many inherent limitations. A recipient account might or might not hold this single security, and the account performance will be affected in proportion to its holding size and the amount of price fluctuation over time. No representation is being made that any client account will or is likely to achieve profits or losses tied to a security in the security model forecasts. In fact, there could be significant differences between these forecasted performance results and the actual results realized.

Forecasted performance has not been achieved by the security, and like all modeled, projected or hypothetical performance, it is important to note that there are multiple versions of a model, and ARK has a conflict of interest in that we have an incentive to show you the best performing results. These forecasts rely on models, which calculate hypothetical performance. Several of the limitations of hypothetical performance models include: 1) reliance on a variety of data obtained from sources that are believed to be reliable, but might be incorrect, inaccurate or incomplete and ARK does not guarantee the accuracy or completeness of any information obtained from any third party, 2) potential inclusion of inherent model creation biases, data discrepancies and/or calculation errors that could cause actual results to differ materially from those projected, 3) NO reflection of the impact that material economic and market factors might have had on investment decisions that would have been in actual portfolios being managed at the time and do not involve market risk, and 4) NO guarantee of future investment results. The forecasted results rely on assumptions, forecasts, estimates, modeling, algorithms and other data input by ARK, some of which relies on third-parties, that could be or prove over time to be incorrect, inaccurate or incomplete.

The forecasted returns are based on a variety of criteria and assumptions, which might vary substantially, and involve significant elements of subjective judgment and analysis that reflect our own expectations and biases, which might prove invalid or change without notice. It is possible that other foreseeable events that were not taken into account could occur. The forecasted performance results contained herein represent the application of the simulation models as currently in effect on the date first written above, and there can be no assurance that the models will remain the same in the future or that an application of the current models in the future will produce similar results because the relevant market and economic conditions that prevailed during the performance period will not necessarily occur. The results will not be updated as the models change, or any information upon which they rely changes. There are numerous other factors related to the markets in general or to the public equity security specifically that cannot be fully accounted for in the preparation of forecasted performance results, all of which can adversely affect actual results. For these reasons, forecasted performance results will differ, and could differ significantly from actual results. FORECASTED PERFORMANCE RESULTS ARE SUBJECT TO REVISION AND PRESENTED FOR ILLUSTRATIVE PURPOSES ONLY.

While ARK’s current assessment of the subject company may be positive, please note that it might be necessary for ARK to liquidate or reduce position sizes prior to the company attaining any forecasted valuation pricing due to a variety of conditions including, but not limited to, client specific guidelines, changing market conditions, investor activity, fundamental changes in the company’s business model and competitive landscape, headline risk, and government/regulatory activity. Additionally, ARK does not have investment banking, consulting, or any type of fee-paying relationship with the subject company.

Today’s guest believes strongly that healthcare needs blockchain and blockchain needs healthcare. In this episode, Dr. Alex Cahana returns to the show to discuss how blockchain can be the impetus for societal change in the healthcare industry. Dr. Cahana is a medical doctor, an ambassador to the UN for blockchain, and a theme developer for ARK Invest. He is on a mission to “block change healthcare and healthify the crypto space”. In our discussion, Dr. Cahana explains how he has seen the world change over the past two years in terms of healthcare and blockchain technology. He talks about why healthcare needs blockchain, the benefits and vast potential of tokenizing health data, and his three steps to addressing the current problems in healthcare with decentralization. Dr. Cahana also sheds light on his work in Sub-Saharan Africa and why the general adoption of crypto across Africa is much higher than of the rest of the world, as well as what it means for El Salvador to be the first country that has adopted Bitcoin as legal tender, before discussing the difference between “lean and obese” economies and the adoption of blockchain. To find out where Dr. Cahana sees healthcare, blockchain, and the world at large going in the next two to five years, as well as the three things that he’s most excited about in the near future, don’t miss this episode!

• An introduction to today’s guest Dr. Alex Cahana and his career in healthcare and blockchain.
• How Dr. Cahana has seen the world change over the past two years in terms of healthcare and blockchain technology.
• Why healthcare needs blockchain and why just rebuilding the existing technology system on centralized infrastructure isn’t enough.
• Why Dr. Cahana believes that the real benefits of blockchain to healthcare can be found in the idea of tokenization.
• Thoughts on how we can tokenize health data in a privacy preserving manner.
• The problem of data ownership.
• The three steps to addressing the current problems in healthcare with decentralization starting with: educating people and making them aware that their data is their own.
• Step two: addressing the problems that each stakeholder is experiencing in healthcare now.
• Step three: deriving sustainable business models from this and how this will look very different in each market.
• How the Global Blockchain Business Council is ‘healthifying’ the crypto space.
• Insight into Dr. Cahana’s work in Sub-Saharan Africa and what he learned from the way Africa dealt with COVID.
• Why general crypto adoption across Africa is much higher than that of the rest of the world, according to Dr. Cahana.
• The difference between “lean and obese” economies and how this relates to a nation’s willingness to adopt blockchain.
• What it means for El Salvador to be the first country that has adopted Bitcoin as legal tender.
• How Latin America’s adoption of blockchain differs from that of Africa.
• Dr. Cahana’s thoughts on how leaders need to transition from being omnipresent leaders to facilitators and educators as the world transitions from Web 2.0 to Web 3.0.
• Predictions on whether or not global bodies like the IMF and the UN will continue to be resistant to the adoption of Bitcoin as legal tender.
• Where Dr. Cahana sees healthcare, blockchain, and the world at large going in the next two to five years, and the three things that he’s most excited about.

Please note: as of 3/31/22, ARK’s clients own greater than 1% of the shares outstanding of Velo3D.

ARK expects 3D printing to revolutionize manufacturing by collapsing the time between design and production, reducing costs, and providing greater design complexity, accuracy and customization. We believe 3D printing can enable digital inventory and distributed manufacturing, adding flexibility to supply chains. On today’s episode, ARK Research Analyst Tasha Keeney and Research Associate Pierce Jamieson interview Benny Buller, founder and CEO of Velo3D, a leader in end-to-end 3D printing space. Benny observed the additive manufacturing (AM) industry with fresh eyes and no prior manufacturing experience. In doing so, he observed a fundamental flaw limiting the speed of AM adoption: Engineers not only had to learn a new manufacturing process (AM), but they also had to learn a new design process (DfAM). He built Velo3D from the ground up, solving for this root challenge, enabling design to inform manufacturing not the other way around.

• The origin story of 3D Printing and why Benny started Velo3D.
• What determines a part’s usability with internal supports.
• What software Velo3D uses in the manufacturing process.
• The current repeatability of 3D printing and the overall importance of repeatability.
• The design process for additive manufacturing.
• Design freedom that 3D printing allows when manufacturing parts.
• What is driving growth in the additive manufacturing industry today.
• The future of material science and 3D printing.
• How machine learning and advanced optimization is affecting 3D printing.
• How 3D printing is driving the future of innovation.

In the world of aerospace, our wildest imaginings are steadily becoming a reality. Joining us today to discuss the future of air traffic, autonomous flight, and the phenomenon of Hamburger Helper being delivered to your door via drone, is aviator, entrepreneur, and investor, Cyrus Sigari. Cyrus has an impressive track record in the field of aviation and is currently the Co-founder and Managing Partner of UP Partners, a privately-owned company that builds and invest in technologies that help move people and goods. In this episode, we discuss the undeniable crossover between military and civilian applications of aviation technology, the challenges the FAA faces when it comes to certifying revolutionary technologies, and what exciting drone-related developments we could see in the next five years! Cyrus fills us in on China’s interesting aviation model, speculates on which areas the US could improve, and explains why focusing on transporting things, rather than humans, could free up the innovation process. Tune in to find out what’s going on in the aviation world, what might be some future possibilities, and what to consider as an early-stage investor in aerospace technologies!

• Cyrus Sigari’s background and involvement in the field of aviation.
• How Eclipse Aviation started the Very Light Jet (VLJ) Revolution.
• The historical risk of investing in disruptive innovation in aerospace, and why that risk is steadily decreasing.
• The challenge of the FAA to certify multiple new systems and technologies.
• Which countries Cyrus believes are leading progress in aerospace.
• China’s interesting aviation model.
• What makes aerospace one of the most important industries in the world.
• Why ARK is interested in autonomous flying vehicles.
• The undeniable crossover between military and civilian applications of technology.
• Examples of geopolitical conflict creating technologies with civilian applications.
• How civilian technologies are now bleeding into the military.
• How the development of adaptable commercial applications of technology could improve a country’s ability to be militarily competitive.
• Impressive autonomous flight technologies and their social and regulatory obstacles.
• Walmart’s revolutionary drone delivery service.
• Three noteworthy drone delivery companies: DroneUp, Zipline, and Wing.
• How focusing on moving things via air, rather than people, lessens the barrier to innovation.
• What to consider as an early-stage investor in aerospace technologies.
• Cyrus predicts that the US will be operating drones beyond the line of sight within five years.
• The shocking statistic of people who have flown in an aircraft.
• What Cyrus is most excited about in aerospace today!

When you’re in the middle of a crisis like the COVID-19 pandemic, getting timely test results is imperative. Unfortunately, laboratory testing does not scale well due to its centralized testing infrastructure. It also requires sample transportation, complicated equipment, and technical expertise, all of which lead to high costs and time delays that are incompatible with problems that require immediate answers. Today on the show, we talk with Khalid Alam, Founder and CEO of Stemloop, a privately-held company that is currently focused on developing cell-free biosensors to solve challenges in biomanufacturing, environmental monitoring, and human health. Tuning in, you’ll learn more about Khalid’s career, how he became interested in biochemistry and biotech, and how Stemloop’s cell-free biosensors will monitor and fortify water supplies around the world. We discuss how the biotech space has evolved over the past few decades, why doing projects at scale is so beneficial, and how the cost of DNA sequencing has plummeted in recent years. Khalid also delves into the crisis that the US is currently experiencing with lead in their water supply, the challenges of solving this problem, and the rapid tests that Stemloop is building for household taps. Today’s episode offers an exciting look into the world of testing and is full of important insights on advancements in biotech. Tune in to hear it all!

• An overview of Khalid’s career journey in biotech and biochemistry.
• How Khalid defines synthetic biology.
• Advancements in the biotech space over the past few decades.
• The value of doing biotech projects at a massive scale.
• How high-scale parallelization caused DNA sequencing to become more affordable.
• Aptamers: what they are, how they work, and why they’re useful.
• A breakdown of the FASTAptameR 2.0 toolkit.
• Exciting developments related to fluorescence activating RNAs.
• Global issues around water quality and how synthetic biology can address it.
• The benefits and challenges of analytical testing.
• Why getting a test result quickly is imperative.
• How the COVID-19 pandemic introduced testing issues to a broader audience.
• An overview of a lateral flow test and why it’s so valuable.
• Advantages of a cell-free approach and the cell-free biosensors that Stemloop is developing.
• How these will monitor and fortify water supplies around the world.
• How Khalid has transformed computational ideas and adapted them to the physical space.
• The methods they used to winnow down the application space.
• How the US is dealing with lead in their drinking water; challenges and possible solutions.
• How to get involved with Stemloop.

Saman Farid believes that robots are a means to an end and while their importance is derived from the output they create, many companies are focused solely on the hardware itself. In this episode, we are joined by Saman Farid, the CEO of Formic which is a privately held Robotics as a Service (RaaS) company that focuses on the output rather than the hardware. He sheds light on the concept of Robotics as a Service and what this really means. On today’s episode, you’ll hear about the barriers to robot adoption in manufacturing, the development of technologies that make it possible to use industrial robots in a collaborative way, the challenges of implementation in this field, and how the declining costs of hardware are opening up more opportunities in this sector. You’ll also learn more about why Saman believes that in the future, companies will either be building new robots, or operating them and generating value from them, but not both. To hear what excites Saman the most about the advancement of robotics in the next five years and why he believes that robots are not stealing jobs but creating more, listen now!

• Saman Farid’s thoughts on the concept of Robotics as a Service and what this really means.
• Thoughts on how innovative technologies tend to take hold during tumultuous times and how the pandemic is driving adoption.
• The labor shortage and supply chain challenges and how Formic is trying to formulate ideas to address these issues.
• The barriers to robot adoption in manufacturing.
• The types of tasks that Formic has had the most success in automating and those that still need work.
• The dynamic Saman sees in the use of collaborative robots versus more traditional caged-off industrial robots.
• The development of technologies that make it possible to use industrial robots in a collaborative way.
• The challenges of implementation and training in the development of this field.
• Business alignment challenges between companies that build robots and those that do Robotics as a Service.
• Saman’s prediction that the differentiation between the hardware vendors of robots is decreasing and specialization is increasing.
• Thoughts on the declining costs for the hardware of robotics and the opportunities that this opens up in manufacturing.
• Saman’s answer to the common question “Are robots stealing and destroying jobs?”
• What excites him the most about the advancement of robotics in the next five years.

In this week’s episode, we are featuring another segment from our Big Ideas Summit 2022. Click here to view the entire presentation, including the section referenced in this episode. In this segment, Brett Winton, ARK’s Director of Research, discusses how our five innovation platforms of artificial intelligence, robotics, blockchain technology, energy storage, and DNA sequencing are converging, and what impact this convergence might have on how quickly each platform evolves in the future. On today’s episode, you’ll hear the composite forecast of the 14 technologies that ARK focuses on and the aggregate market cap appreciation that ARK anticipates accruing across each. Brett offers his take on the future of Robotaxis, reusable rockets, genomics, public blockchain, and digital wallets, among other things. To hear ARK’s predictions on what will be some of the most economically productivity-generating innovations of all time, tune in today!

• An introduction to how the innovation platforms of artificial intelligence, robotics, blockchain technology, energy storage, and DNA sequencing are converging.
• Some necessary disclosures and the difference between volatility and risk.
• The composite forecast of the 14 technologies that ARK focuses on and the aggregate market cap appreciation that they anticipate accruing across each.
• Why it may be important to be in front of the wave of innovation from an allocation perspective when it comes to market cap.
• Why Brett believes that these five technology platforms are expected to accrue over $200 trillion in value over ten years and how they derive these values.
• ARK’s visualization of how the asset value accrual will break down.
• How each technology platform fits into this breakdown.
• Why ARK believes that autonomous mobility and Robotaxi are going to be the most economically productivity-generating innovations of all time.
• What ARK foresees in robotics, reusable rockets, and genomics.
• Public blockchain and why ARK sees this as three concurrent revolutions that have all been catalyzed by the introduction of Bitcoin into the world.
• The future of digital wallets.
• What differentiates ARK analysts from other research teams.

Dr. Agnieszka Czechowicz is driven by her passion for making an impact and changing the way that care is provided. Throughout her career she has taken science and translated it into medicines, many of which are having helping patients. Agnieszka has worked with a wide range of companies, from those that do gene editing to those that focus on hearing and balance disorders. However, her main area of research is in the field of hematopoietic stem cells. In today’s episode, Agnieszka explains the importance of these cells, and the benefits of the hematopoietic stem cells transplants. Agnieszka’s interest in transplant medicine began at a young age, and her passion for the field continues to grow year after year. Tune in today to hear about how Agnieska is contributing to the transformation of the medical field!

• An overview of Dr. Agnieszka Czechowicz’s incredible career.
• Where Agnieszka’s interest in transplant medicine originated.
• What keeps Agnieszka motivated, despite the challenges of being a physician scientist.
• The power of hematopoietic stem cells.
• An explanation of the two bone marrow failure syndromes that Agnieszka specializes in.
• Discoveries that Agnieszka made many years ago when conducting research into hematopoietic stem cell transplantation.
• Problems with the genotoxic conditioning that is used prior to bone marrow and hematopoietic stem cell transplants.
• The mission of Magenta Therapeutics, of which Agnieszka is a co-founder.
• Feedback on progress that Magenta Therapeutics is making.
• The potentially transformative power of agent CD117 ADC.
• How agents developed by Magenta Therapeutics can be used in gene editing and gene therapy.
• Agnieszka’s involvement with Jasper Therapeutics, and the therapy that they are currently working on.
• Interventions that Agnieszka believes will cause a profound reduction in graft versus host diseases.
• Work that Agnieszka has done for Third Rock Ventures.
• Some of bluebird bio’s achievements and setbacks.
• Agnieszka’s involvement with Editas, Decibel Therapeutics, and Beam Therapeutics (and where the name Beam came from).
• Ex vivo versus in vivo manipulation techniques.
• What drives Agnieskza to do the work that she does.
• Agnieszka’s passion for women’s health.

The world is currently experiencing a multitude of historic events, from a global pandemic to the confounding invasion of Ukraine, to an ever-increasing rise in climate-related disasters. Here to help us unravel the influence of these events, as well as broader geopolitical trends on innovation, is a critically acclaimed author and geopolitical analyst, Peter Zeihan. His latest book The End of the World is Just the Beginning: Mapping the Collapse of Globalization looks into the wave of deglobalization the world is currently experiencing and what this means for the future of energy, finance, manufacturing, and innovation as we move through the coming decades. Today, you’ll hear an overview of Peter’s geopolitical worldview, how he expects deglobalization to affect innovation in the US and abroad, as well as some of the challenges facing green tech and its applications. We also delve into how authoritative governments can limit connection in the modern world, why nuclear power is a necessary part of our global future, as well as the merits and shortcomings of a decentralized currency like Bitcoin.

• Get to know today’s guest Peter Zeihan, Geopolitical Strategist and author.
• Introducing Peter’s latest book The End of the World is Just the Beginning.
• An overview of deglobalization and depopulation in the context of the last century.
• Peter’s thesis of the macroeconomic and technological impact of the end of deglobalization.
• The types of terrain where autonomous electric trucks will have the biggest impact.
• The countries expected to benefit most from autonomous electric trucks in their supply chain management.
• The three technological revolutions that shifted society’s relationship to its economy and geographic positioning.
• Peter’s expectations around deindustrialization in the next two decades.
• Examples of how authoritative governments can limit global connection with the outside world.
• The challenges of sourcing more raw materials for green energy.
• How green tech is affected by geopolitics.
• Why nuclear power is crucial for the future of global energy.
• Peter’s views on Bitcoin and its shortcomings.

Today on the show we discuss our Tesla Valuation model and how we came to our 2026 price target for a Tesla share. You will hear from three analysts on how they constructed the valuation, their methodology, and what they project for 2026. Tasha Keeney shares her thoughts on why electric is the future of autonomous technology, Will Summerlin unpacks the potential opportunities for AI within foundational models, and Sam Korus explains why batteries are the single biggest cost component in Tesla’s vehicles. We also cover the results of the Monte Carlo analysis, with an overview of how it functions, and delve into the five key inputs that are the main drivers of this model. Today’s conversation offers insights into our dynamic valuation model!

Read the full valuation blog here.

• Introducing our latest Tesla Valuation model and 2026 price target.
• An overview of our top-down and bottom-up research methodology.
• A breakdown of Wright’s law and why it applies to battery production.
• The potential opportunities for AI within foundational models.
• Our views on why the future of autonomous driving cars is electric.
• How autonomous driving cars are expected to lower the cost of driving.
• The Monte Carlo analysis and the role it’s played in this valuation’s methodology.
• The five key inputs that are the main drivers of this model.
• How to access the valuation model on Github.
• Why the launch year and time of adoption is the single biggest driver for this model.
• Information on how to reach out to us for questions and queries on our model.

DISCLOSURE

The forecasted performance and price estimates herein are subject to revision by ARK and provided solely as a guide to current expectations. There can be no expectation that the specific security will achieve such performance or that there will be a return of capital. Past performance is not indicative of future results.

FORECASTED PERFORMANCE RESULTS ARE HYPOTHETICAL AND HIGHLY SPECULATIVE, AND PRESENT MANY RISKS AND LIMITATIONS. The recipient should not consider these estimated prices alone in making an investment decision. While ARK believes that there is a sound basis for the forecasts presented, no representations are made as to their accuracy, and there can be no assurance that such forecasts or returns will be achieved by the specific security.

The recipient is urged to use extreme caution when considering the forecasted performance, as it is inherently subjective and reflects ARK’s inherent bias toward higher expected returns. Any higher returns should be viewed as a measure of the relative risk of such investments, with higher forecasted performance generally reflecting greater risk. There is no guarantee that any results will align with the forecasted performance, and they might not be predictive. Some or all results may be substantially lower than projected results and, as with any investment, it is possible that you could lose money.

FORECASTED performance results (single security model simulation forecasts) have many inherent limitations. A recipient account might or might not hold this single security, and the account performance will be affected in proportion to its holding size and the amount of price fluctuation over time. No representation is being made that any client account will or is likely to achieve profits or losses tied to a security in the security model forecasts. In fact, there could be significant differences between these forecasted performance results and the actual results realized.

Forecasted performance has not been achieved by the security, and like all modeled, projected or hypothetical performance, it is important to note that there are multiple versions of a model, and ARK has a conflict of interest in that we have an incentive to show you the best performing results. These forecasts rely on models, which calculate hypothetical performance. Several of the limitations of hypothetical performance models include: 1) reliance on a variety of data obtained from sources that are believed to be reliable, but might be incorrect, inaccurate or incomplete and ARK does not guarantee the accuracy or completeness of any information obtained from any third party, 2) potential inclusion of inherent model creation biases, data discrepancies and/or calculation errors that could cause actual results to differ materially from those projected, 3) NO reflection of the impact that material economic and market factors might have had on investment decisions that would have been in actual portfolios being managed at the time and do not involve market risk, and 4) NO guarantee of future investment results. The forecasted results rely on assumptions, forecasts, estimates, modeling, algorithms and other data input by ARK, some of which relies on third-parties, that could be or prove over time to be incorrect, inaccurate or incomplete.

The forecasted returns are based on a variety of criteria and assumptions, which might vary substantially, and involve significant elements of subjective judgment and analysis that reflect our own expectations and biases, which might prove invalid or change without notice. It is possible that other foreseeable events that were not taken into account could occur. The forecasted performance results contained herein represent the application of the simulation models as currently in effect on the date first written above, and there can be no assurance that the models will remain the same in the future or that an application of the current models in the future will produce similar results because the relevant market and economic conditions that prevailed during the performance period will not necessarily occur. The results will not be updated as the models change, or any information upon which they rely changes. There are numerous other factors related to the markets in general or to the public equity security specifically that cannot be fully accounted for in the preparation of forecasted performance results, all of which can adversely affect actual results. For these reasons, forecasted performance results will differ, and could differ significantly from actual results. FORECASTED PERFORMANCE RESULTS ARE SUBJECT TO REVISION AND PRESENTED FOR ILLUSTRATIVE PURPOSES ONLY.

While ARK’s current assessment of the subject company may be positive, please note that it might be necessary for ARK to liquidate or reduce position sizes prior to the company attaining any forecasted valuation pricing due to a variety of conditions including, but not limited to, client specific guidelines, changing market conditions, investor activity, fundamental changes in the company’s business model and competitive landscape, headline risk, and government/regulatory activity. Additionally, ARK does not have investment banking, consulting, or any type of fee-paying relationship with the subject company.

Long before the concepts of the Metaverse and cryptocurrency became widely understood, Second Life was already a thriving virtual metropolis running off its own monetary system. In today’s episode, we have the pleasure of hearing from its inventor, Philip Rosedale, about how technology has evolved since he founded Second Life, and how he hopes it is going to continue to evolve in the future. Angie Dalton also joins in on the conversation to share her perspective on what is going on in the virtual world. Our conversation covers everything from avatars to the uncanny valley to the potential of the Metaverse to eliminate loneliness, so don’t miss this one!

• Philip’s two main interests that catalyzed the founding of Second Life.
• Technological changes that took place in the late ’90’s, which were the final push that Philip needed to found Second Life in 1999.
• What the early years of founding Second Life looked like.
• The goal of Second Life, and what makes it unique.
• Philip shares some statistics which give an indication of the size of Second Life today.
• Characteristics built into the Second Life currency that allowed it to work as well as it has.
• Reasons that Second Life didn’t run into many regulatory issues when they were starting out.
• Angie’s thoughts on how to democratize crypto inside games.
• Facets of the Metaverse that Philip is particularly interested in seeing the evolution of.
• The problem that Philip and his team at High Fidelity have developed technology to solve.
• What Philip believes one of the main goals of technological advancements should be.
• A sad truth about our online connections.
• Some of the pros and cons of trustless economies.
• Why allowing for the ability to trade virtually is essential to the success of the Metaverse.
• The next step that is required to take the Metaverse to the next level.
• Philip explains the concept of the ‘uncanny valley’.
• Changes that Philip expects to see in virtual worlds in the next 5 years.
• What Angie is most excited about in the virtual reality space.

The FinTech industry has had its fair share of young entrepreneurs, but few are quite as interesting as Jared Isaacman, a New Jersey native and high school dropout who founded his first startup when he was just 16. Today, Jared is the CEO and Chairman of Shift4 Payments, a publicly held leading provider of integrated payment processing and technology solutions, and a cofounder of Draken International, which provides mission-critical commercial military flight services to the US Department of Defense. While others reach for the sky, Jared aspires to infinity and beyond as a commercial astronaut, with his personally funded Inspiration4 venture becoming the first all-civilian mission to space when it launched in September 2021. Inspiration4 doubles as a worldwide charity campaign, calling attention to the mission of St. Jude Children’s Research Hospital, for which Jared has raised over $240 million. In today’s episode, you’ll learn more about the upcoming Polaris Dawn mission, which is set to launch in the fourth quarter of 2022. Listen in as Jared shares his passion for spaceflight to further human space exploration, some of the tangible philosophies that he took from SpaceX, and the additional business models he believes could arise from reusable rocket ships, as well as his recommended reads and more!

• An introduction to Jared Isaacman: entrepreneur, philanthropist, and civilian astronaut.
• When his journey into aerospace began and the timeline from pipe dream to space mission.
• The important role that philanthropy played in the Inspiration4 mission.
• Three tangible philosophies that Jared took from SpaceX and implemented at Shift4.
• Insight into Starlink and how the Polaris Program fits into their objectives.
• Intrinsic motivations for the Polaris Dawn mission and the private investment dollars that make it possible.
• Polaris’ responsibilities, including testing the spacesuits manufactured by SpaceX.
• The interest that the Polaris Dawn mission has garnered from the public.
• Speculating on the additional business models that could arise from reusable rockets.
• Justifying the investment it would take to get to Mars and the many social and psychological issues that would need to be resolved beforehand.
• Why Jared says the least enjoyable part of the Inspiration4 mission was coming home.
• How a multi-talented entrepreneur like Jared juggles his numerous responsibilities.
• The flexibility (and scrutiny) he experienced as a public company CEO going to space.
• Find out how Shift4’s employee base responded to going public.
• Jared’s perspective on the strategic landscape in the payment space, given the crosscurrents that are occurring.
• Why he believes FinTech business owners go to space: pure fascination, not pure capital.
• An appreciation for checklists and being procedurally driven, both in business and in life.
• Recommended reads, including the SpaceX story, Liftoff, and Mercury Rising.
• Jared shares one of his ‘white whales’; a challenge he is still seeking to overcome.

Emily Fassi stumbled across the field of genetic counseling when she was trying to figure out what she could do with her biology degree. Today, she is the Lead Genetic Counselor for the St. Luke’s Health System, specializing in hereditary cancer predisposition. Since genetic counseling came into existence as a profession, it has evolved an enormous amount, and continues to change at a rapid rate. In this episode, Emily explains what her role as a genetic counselor entails, why this work is so important, where the main limitations lie, and what she hopes the field will look like in the future. Emily’s passion for the genetic counseling realm is palpable, and this episode is full of fascinating information about a relatively little-known field which will intrigue medical and non-medical professionals alike!

• Emily explains what her work as a genetic counselor entails.
• How the genetics and medical fields complement one another.
• Continuous evolution that is taking place in the field of genetics.
• How Emily found out about genetic counseling, and what drew her to the field.
• Levels of detail that genetic counselors are able to provide their patients with, in comparison to physicians.
• Emily’s experience working in the pediatric and rare disease counseling realm, and how this contrasts to the oncology genetic counseling realm she is now working in.
• The process of deciding which genetics tests to do on a patient.
• Germline versus somatic mutations, and the increasing frequency of paired testing.
• Limitations of the guidelines around who should have genetic testing.
• Comparing polygenic and monogenic testing, and why Emily is excited about the former.
• Changes that Emily hopes to see take place in the genetic counseling field in the future.
• Some of the factors that lead to preventable cancers not being picked up early enough.

The technology for geothermal heating and cooling of homes has been around for decades, but several factors have prevented this technology from scaling in the United States — until recently. The heating and cooling of buildings is responsible for around 20% of US greenhouse gas emissions, and a greater awareness of the negative impacts of these gasses, combined with an increase in the price of fossil fuels, has created conditions for geothermal energy companies to thrive. Today’s guest is Kathy Hannun, the founder and President of Dandelion Energy, which is privately held, and the largest home geothermal company in the United States. Before founding Dandelion, she was a Rapid Evaluator at X, Alphabet’s innovation lab, where she focused on identifying business opportunities to harness technology for large-scale positive impact. She initiated Dandelion as an X project and then launched it into an independent startup company in May 2017. In today’s episode you will learn about the process behind heating/cooling your house in this way, and the money a household might save by going this route. Kathy also explains how she became involved in the geothermal energy space, and how she and her team are overcoming the challenges of working in this rapidly growing industry.

• Kathy explains how geothermal heating and cooling works in a home environment.
• The contribution of the heating/cooling of buildings to the US’s total greenhouse gas emissions.
• Factors that have made it possible to scale geothermal energy in recent years, as Dandelion Energy is doing.
• Vertical integration that Kathy has incorporated into the Dandelion Energy business model.
• Differences between the solar energy and geothermal energy industries.
• Incentives that are used to encourage the purchasing of heat pumps.
• The variety of factors that make one heat pump different from another.
• Why many new home builders are opposed to installing heat pumps, and how Kathy and her team are working to overcome this obstacle.
• Kathy’s experience working at X, and how her ties to the company have benefited Dandelion Energy.
• The money that a household might save on operating costs when using a geothermal heating/cooling system as opposed to a fossil fuel-based energy source.
• Dandelion Energy’s biggest challenge at the moment.
• Kathy explains the process of figuring out what the size of a ground loop should be.
• Examples of homes that are not well suited to geothermal technologies, and how Dandelion Energy is trying to work around these limitations.
• Who should consider getting a geothermal heat pump, and who should look into air source heat pumps instead.

Joining us on For Your Innovation today, are Chris Quilty and Caleb Henry. Chris is the Founder and Partner of Quilty Analytics, a privately held, integrated financial research, investment banking and strategic advisory boutique exclusively serving the satellite and space industry. Caleb is Quilty Analytics Senior Analyst. In this episode, we discuss the developments of the space industry from its shift towards commercial revenue to its efforts towards reusability. We delve into the hybrid architecture that is proving to be the most successful, in terms of satellites, and speculate the causes for launch delays and budget overshoots. Our guests fill us in on the various contributors to the verticalization of the industry and summarize and contextualize the current constellation projects that are in motion. Tune in to find out what the SPAC boom means for the space industry and what exciting developments we have to look forward to!

• What Quilty Analytics is and what led Chris Quilty to found the company.
• Quilty Analytics’ Senior Analyst, Caleb Henry shares his professional background.
• The evolution of the space industry and what has changed.
• The space industry’s shift from government revenue towards commercial revenue.
• The efforts towards reusability in the space industry.
• The benefits of hybrid satellite architecture, using LEOs, GEOs, MEOs, and HEOs.
• What generally causes the budget overshoots and delays of constellation launches.
• Contributors to the verticalization of the industry.
• The viability of the five constellations currently going forward.
• The motivations behind each constellation.
• Why venture capital investors are investing in the space industry.
• The significance of 2021’s SPAC boom, given the history of space funding.
• The myriad of space industry developments Caleb is excited about!
• How decreasing launch costs will accelerate progress in the industry.

On this episode, we bring you an excerpt from our Big Ideas Summit 2022, which was presented live on January 25, 2022. MSNBC’s Chris Hayes interviews our CEO and CIO, Cathie Wood on a wide range of topics spanning all of our big ideas. Cathie shares insights into the world’s current climate of innovation and technology, as well as her predictions for the future. We learn about the move from fossil fuel extraction to new emerging technologies, and what is predicted to contribute towards the shift to renewable energy. Cathie fills us in on how Bitcoin mining could accelerate this shift and how Tesla’s solar roofs can change the solar energy game. We discover how AI is converging with blockchain technology to help solve the world’s problems, and with the genomic space to help cure disease. This is an episode you won’t want to miss. Tune in to learn more about the five major innovation platforms that are simultaneously evolving today, not to mention the three significant revolutions we believe are taking place right now! For the full big ideas presentation click here.

• Cathie’s predictions of the future in terms of innovation and technology.
• We believe that five major innovation platforms simultaneously evolving.
• What is contributing to the move from fossil fuel extraction to new emerging technologies.
• The cost declines in emerging technologies.
• Cathie predicts how Tesla’s solar roofs will change the game.
• How Bitcoin mining could accelerate the shift towards renewable energy.
• How AI is converging with other innovative technologies to solve the world’s problems.
• The three revolutions simultaneously taking place right now!
• The monetary revolution and the profound ramifications predicted as a result of Bitcoin.
• The role of decentralized finance in the financial services revolution.
• Cathie describes NFTs and their role in the next-generation Internet revolution.

Please note: as of 12/31/21, ARK’s clients own greater than 1% of the shares outstanding of Beam Therapeutics.

Base editing, and gene editing as a broader industry, are a major focus of our research at ARK, and a major piece of DNA Sequencing, one of our 5 technology platforms. To dive deeper into the world of base editing, Analyst Ali Urman sits down with industry expert, Beam Therapeutics CEO John Evans. Evans was previously a Venture Partner with ARCH Venture Partners and an early employee and member of the leadership team at Agios Pharmaceuticals. At Agios, he helped develop IDHIFA and TIBSOVO, two IDH inhibitors for the treatment of acute myeloid leukemia (AML), helped initiate and lead Agios’ landmark alliance with Celgene, and co-led Agios’s expansion into rare genetic diseases. On this episode, Ali and John discuss the falling costs of medicine, the convergence of 3D Printing and Base Editing, Base Editing’s applications for chronic illness, the total opportunity of the gene editing space and much more!

• John’s favorite poet, Wallace Stevens
• Medicine’s cost declines and what that means for patients
• The efficiency of of Multiplex Gene Editing (MGE)
• The convergence between and potential of 3D Printing and Gene Editing
• The many colors of CRISPR Gene Editing
• Base editing applications for chronic illnesses
• The intersection between Base Editing and Prime Editing
• Beam Therapeutic’s partnerships with Pfizer and Verve
• Measuring the opportunity in the Base Editing space
• The potential total market opportunity in the gene editing space
• The CRISPR patent ruling and its impact on the genomics field
• What John finds interesting about Twitter and why he is so active on the platform

The fields of genetics and genomics have been a cornerstone of our interest at ARK, and subjects we have explored in the past on the For You Innovation podcast. Today, analyst Simon Barnett dives a little deeper into this world, as we host Ivan Liachko, the CEO and Co-Founder of Phase Genomics, to talk about the company and the amazing technological strides that are being made. Phase Genomics is a private company with a portfolio of laboratory and computational services and products. Ivan explains a little about ultra-long-range sequencing technology, and how this is enabling Phase to assemble chromosomes in ways that were previously impossible. He also unpacks the idea of looking at the field through the lens of capturing information, and how each advancement allows us to more accurately capture useful information for certain applications. We discuss the tools that the company has been focused on developing, how these can shine a light on the mysteries of the human microbiome, and the practical applications of these innovations for healthcare and beyond. Ivan talks about how his work relates to cancer and the broader study of viruses, and the hope this is instilling for future cures and prevention!

• Looking back at Phase Genomics in 2018 and the work they did on the Puerto Rican genome.
• The basics of ultra long-range sequencing technology and how it is changing the genome field.
• Ivan’s jigsaw analogy for conceptualizing how this new technology operates.
• Broadening the conversation and applying the technology to more practical problems.
• How Phase Genomics is changing the way oncology samples are being read.
• The value of fresh frozen plasma samples and why this is only now being able to be realized.
• Making use of older studies and samples with new technology.
• The tricky role and responsibility of scientists to share only the desired information.
• More visualizations of how cross-linking in this technology works.
• The complexity of the microbial world and the importance of understanding it for healthcare.
• How the valuable information that can now be captured affects the way we can deal with viruses.
• The huge variance that is present in human microbiomes and the problems this has posed in creating a baseline.
• Ivan’s hopes for development and achievements in the oncological and microbial genetics spaces.
• Where to learn more about what Phase Genomics is busy with currently!

Today’s guest is Dr. Christyl Johnson, the Deputy Director for Technology and Research Investments at the Goddard Space Flight Center. Dr. Johnson joins us to share a behind-the-scenes view of the innovations coming out of the Goddard Flight Center and the role that she plays in the process. Analyst’s Sam Korus and Tasha Keeney speak with Dr. Johnson about her experiences as an intern at the Langley Research Center and what she loves most about working for NASA, an environment built on the foundations of out-of-the-box thinking and creativity. We hear more about Dr. Johnson’s role at the Goddard Flight Center in forming strategic partnerships between government and private sectors to develop technology for future missions in Earth science, astrophysics, heliophysics, and planetary science. Our conversation also covers some of the research currently being done at Goddard on solar storms, algorithms for processing satellite imaging system information, space telescopes, and much more. Tuning in, listeners will also hear about the skillsets that are most in-demand at Goddard, the importance of diversity for creative problem solving, and the immense process of guiding project invitation from ideation to solution.

• Dr. Johnson’s experiences as an intern at the Langley Research Center.
• The work Dr. Johnson does as Deputy Director for Technology and Research Investments at the Goddard Space Flight Center.
• When it is more appropriate for public versus private industries to develop the technologies NASA uses.
• Improvements in technology Dr. Johnson has seen during her time at Goddard.
• Innovations in the algorithms that process information from satellite imaging systems.
• Dr. Johnson’s ideas for new methods of navigation that use pulsars, not GPS.
• What role the Goddard Space Center plays in the development of NASA technology.
• Research on solar storms, planetary and lunar Science, space telescopes, and a lunar net system.
• The six campuses that make up the Goddard Space Center.
• Why NASA places so much emphasis on safety precautions near launch sites.
• How many people work at the center and which percent are PhDs.
• The importance of diversity and outside opinions to avoid groupthink.
• Why the Goddard team has such a strong need for systems engineers.
• What the process from ideation to solution looks like at Goddard.

Dr.Feng Zhang, the award-winning biochemist best known for his central role in developing optogenetics and CRISPR technology, joins ARK analyst Ali Urman on this week’s episode. Listeners will learn about the role of optogenetics in dissecting circuitries in the brain and Feng’s experience of CRISPR. Feng shares some of the biggest hurdles optogenetics has to overcome and tells us where RNA editing could be even more effective than DNA editing. He gives us his predictions on the cost of this kind of technology and medicine, and how it is developing to cover even more genes. We touch on the repertoire of different enzymes, explore diagnostics, and talk about the role of prime editing. You will hear why Feng considers the present to be a golden age for biological research, come to understand his long-term vision for CRISPR’s impact on the world, and much more!

• Feng’s definition of optogenetics: a way to be able to dissect circuitries in the brain.
• What CRISPR is and what Feng’s experience of it has been.
• One of the biggest hurdles of optogenetics: targeting different circuitries in the brain.
• How RNA could be even better than DNA editing.
• The expanding toolbox of different proteins that are allowing us to cover more genes.
• How the repertoire of different enzymes could be harnessed and developed for genome editing.
• Feng’s thoughts on how quickly the cost will decline.
• CRISPR’s relationship with diagnostics in terms of specificity and sensitivity.
• How prime editing could be used to change the number of variants.
• How using RNA for base editing could change the capabilities.
• One of the biggest roadblocks to genetic medicine: getting it into the right tissue.
• The challenge posed by regulatory framework.
• How the new methodologies being developed can improve off-target sensitivity.
• Why Feng considers the present to be a golden age for biological research.
• How Feng sees CRISPR affecting the world in the long term.
• Why he is excited about the future of programmable medicine.

Bitcoin is unique relative to traditional asset classes, meaning that it is unable to fit within the framework associated with them, and this has prevented investors from understanding it as well as adopting it. In an attempt to address this, ARK analyst Yassine Elmandjra recently co-authored a white paper with prominent crypto on-chain analyst, and ARK consultant David Puell that provides a simple approach on how to analyze public blockchains entitled ‘On-Chain Data: A Framework to Evaluate Bitcoin’. David and Yassine use the framework to discuss on-chain data, its importance, how we get to our metrics using it, and to give some context around the work we have done to develop it. We begin with a definition of on-chain data, then dive into the three-tiered framework, and along the way, point to some of the insights it is possible to gain from cryptographically verified access to such data on the blockchain. Tune in for all this and more, today!

• What on-chain data is and how it analyzes the inner economics of Bitcoin.
• The nature of on-chain data and why it is easy to extract it from Bitcoin.
• How Bitcoin’s transparency is one of its value propositions as it pertains to the ability to analyze it.
• The framework developed to provide a basis to analyze public blockchain networks.
• The three-layer pyramid of the framework: Network health, cost basis, and the third layer that combines them.
• An explanation of the concept of ‘realized capitalization’.
• How the transfer of the asset itself is a proxy for a buy and sell that determines cost basis.
• What it means if the realized cap is greater than the market cap.
• How significant it is that bitcoin provides a cryptographically verified cost basis.
• The fact that on-chain data is on-demand and not subject to human error.
• An explanation of the short to long-term realized value ratio developed by ARK.
• What it means that over 50% of Bitcoin supply hasn’t been moved in two years.
• Weighting the 1-day and 6-12-month HODL waves by realized cap.
• What the on-chain data says about where we are relative to this market cycle.
• David’s take on the process of developing active management relevant signals.

Please note: as of 12/31/21, ARK’s clients own greater than 1% of the shares outstanding of Verve Therapeutics.

On this episode of FYI, ARK Analyst Ali Urman is joined by Verve Therapeutics CEO Sek Kathiresan and Chief Scientific Officer Andrew Bellinger. Verve, a biotechnology company, was created with the sole focus of protecting the world from heart disease. For many years, institutions have approached cardiovascular disease with a chronic care model, prescribing medications to help reduce symptoms and complications, such as heart attack and high blood pressure. Verve Therapeutics wants to change that model. Founded in 2018, Verve was created with the idea that we can develop a one-and-done gene-editing medicine to permanently lower LDL cholesterol to treat heart attack, the world’s leading cause of death.

In today’s episode, Dr. Kathiresan and Dr. Bellinger weigh in on the development of gene-editing and its impacts on cardiovascular disease. They discuss gene-editing costs, the importance of lowering LDL cholesterol levels, importance of liver delivery, their PCSK9 program, and why it could be revolutionary for the future of cardiovascular health. For the past four years, Verve has worked to develop proof of concept in monkeys specifically. Gene-editing therapies, such as Verves, could help create longer term health for patients. Listen in to learn more!

• An introduction to Verve Therapeutics
• Dr. Kathiresan’s inspiration for treating cardiovascular disease
• Issues with the chronic care model
• Development of PCSK9
• Overcoming the unmet need of the LDL care
• Thinking about healthcare from the upstream approach
• How COVID vaccines have shown feasibility in development
• How the pipeline continues emerging
• Challenges of nanoparticles being picked up by the liver
• Developing a new therapy with homozygous monkey model
• Difference between healthy vs. heterozygous patients
• How costs affect the work and role of COVID MRNA
• Off-target editing
• What we need to get to market quicker
• Engaging with Twitter to advance the conversation
• Data visualization

Here at ARK, innovation is the name of the game when it comes to our investment strategies, but this is not a very common approach when you look at the larger swathes of investors. On today’s show, ARK Client Portfolio Specialist Dan White sits down with Ren Leggi, ARK Client Portfolio Manager to talk about his recent blog post, titled ‘The Equity Market Cap Associated with Technologically Enabled Innovation Is Likely to Grow Exponentially.‘ Ren provides insight into what the research shows about the potential of innovation-based stocks, and why the growth we have seen in the innovation sector during the last year is likely to keep scaling at an increasing rate. We also talk about what this means for a post-pandemic world, discuss the areas of focus for ARK when it comes to innovative technologies, and how these investments can influence the volatility of a portfolio. Ren makes a strong argument for why backing innovation is not only a good idea but dangerous to ignore, so to hear it all from Ren and Dan, listen in today!

• A little of Ren’s background and work before joining the team at ARK.
• Adoption acceleration during the era of the pandemic.
• ARK’s approach to the different avenues of innovation; listing the five platforms.
• The huge spike in market cap across the five platforms that has occurred over the last year.
• Assessing the size of this market cap and the projected growth in the near future.
• How the technologies on the vanguard are helping push each other forward.
• Tools for measuring and tracking growth and liquidity in the innovation space.
• Situating this conversation globally and how competition is popping up outside of the US.
• Possible capacity, thoughts on volatility, and rethinking how to trade innovation stocks.
• Finding a place for innovative technology within a portfolio of more traditional asset classes.
• The biggest risk associated with investment right now: under-allocation to innovation!

Kevin Davies is a renowned British science journalist and the executive editor of The CRISPR Journal, based in New York. His literary career began with Breakthrough: The Race to Find the Breast Cancer Gene in the early 1990s, followed by Cracking the Genome, which details the dramatic story of one of the greatest scientific feats ever accomplished: the mapping of the human genome. His other titles include the $1,000 Genome, DNA: The Story of the Genetic Revolution, and his most recent release, Editing Humanity: The CRISPR Revolution and the New Era of Genome Editing, for which he won a Guggenheim Fellowship for science writing in 2017. Kevin studied at Oxford University and moved to the US in 1987 after earning his Ph.D. in genetics. He is the founding editor of the Nature Genetics journal and Bio-IT World magazine, former editor-in-chief of Cell Press, and the first publisher of C&EN, the weekly magazine of the American Chemical Society. In today’s episode, Kevin elaborates on his career trajectory and explains why he believes that hanging up his lab coat was the best decision he ever made. We also touch on the common themes that run through his books, some of the challenges scientific publishers and editors face, and the importance of promoting the work of women scientists. We also cover vectors, CRISPR babies, the cost of gene therapy, and so much more! Make sure not to miss this fascinating discussion with the remarkable Kevin Davies.

• Kevin’s career trajectory and his so-called “desperate” shift to science journalism.
• How Kevin believes the field of genetics has evolved since he was a geneticist in the 1980s.
• Learn about the impetus behind the Nature Genetics journal and The CRISPR Journal.
• What motivated Kevin to write Breakthrough, including a meeting with Mary-Claire King.
• Three elements in all of his books: genetics, medical or societal impact, and personal drama.
• Hanging up his lab coat to join Nature and the access to authors that it afforded him.
• Kevin reflects on the demographic representation and “race to the finish line” issues in scientific publishing and the burden editors face.
• The lens through which Nobel Prizes are considered and how it can shift perspectives.
• The importance of promoting women in science, who have traditionally been overlooked.
• How Kevin’s book, Editing Humanity, coincided with Doudna and Charpentier making history as the first two women to share a Nobel Prize.
• Stanley Qi’s role in the CRISPR story, which Kevin calls an “unsung contribution.”
• Speculation and trepidation surrounding vectors: Kevin shares some new thinking.
• Germline genome editing, CRISPR babies, He Jiankui, and controversy in Hong Kong.
• Learn more about the exponential cost of gene therapies and gene editing drugs.

Today, 20 years after we sequenced the first human genome, we’re starting to see the fruits of genomics. Instead of treating symptoms, researchers are focused on finding cures for once chronic and fatal diseases. We’re starting to reimagine medicine in ways previously thought impossible. This week on the For Your Innovation Podcast, we’re joined by Dr. Samarth Kulkarni, Chief Executive Officer of CRISPR Therapeutics. Sam joined CRISPR in early 2015 as Chief Business Officer. Two years later, in 2017, he was appointed to CEO. In addition to his expertise in biotech strategy and operations, Sam has spearheaded initiatives in personalized medicine, immunotherapy, and other therapeutic technologies. In today’s episode, we’re also joined by ARK’s CEO/ CIO, Cathie Wood, who helps provides her insights on macrotrends currently affecting the biotech industry as we come out of last week’s J.P. Morgan Health Care conference. Tune in to hear more on costs of genomic therapies, AI integration, and why Sam believes the “roaring twenties” of biotech may be on the horizon.

• Why today is an exciting time for biotech
• Why Cathie believes macro factors, such as fears of inflation and valuations, are determining the present course of genomics companies
• Innovations and Improvements emerging in the biomedical innovation space
• The importance of former iterations of patented CRISPR-Cas9 for future treatments
• Will the timeline for advancing drugs to market shrink with time?
• Potential gene-editing developments in the near future – including the balance of ex vivo and in vivo
• The possibilities of what it will take to expand human life, while also treating rare diseases
• Sam on why having a capital base for sustainable funding could lead to better long term effects
• Moonshot Ideas and the next 10 years

As the year comes to an end, we would like to thank everyone who listened to the FYI — For Your Innovation podcast. 2021 was another up and down year, as the world continues to battle the COVID-19 pandemic. In this final episode of 2021, we compiled some of our most interesting podcast episodes for you. Please enjoy this summary and tune back in when we return in 2022 with a new and improved version of FYI.

1. Understanding mRNA. Conversations with Moderna and Arcturus Therapeutics (EP 89) Alexandra Urman, interviews Stéphane Bancel and Joseph Payne, CEOs of Moderna and Arcturus Therapeutics respectively about mRNA technology and its possibilities for the future. We discuss how mRNA can be used as a vaccine to combat SARS-CoV-2, its benefits, challenges, intellectual property landscape, and how it can be used for oncology and rare diseases. (Listen to the Full Episode)

2. Autonomous Vehicles Powered By End-To-End Deep Learning with Alex Kendall, Wayve.ai (EP 90) Tasha Keeney invited Alex Kendall, Co-Founder and CEO at Wayve.ai onto the show to speak about how the company is differentiating itself and solving some of the problems to wide adoption of self-driving cars. The private company Wayve.ai aims to build scalable, adaptable robotics for learning algorithms for self-driving cars. (Listen to the Full Episode)

3. The Terra Blockchain with Do Kwon (EP 98) Frank Downing spoke with Do Kwon, the founder and CEO of Terraform Labs and the Terra blockchain, as well as former ARK analyst James Wang. Terra is in the top 30 of the thousands of different blockchains that currently exist, and as Do explains in the conversation, it has some interesting features that set it apart from its so-called peers. (Listen to the Full Episode)

4. Competitive Mobile Gaming with Andrew Paradise, CEO and Founder of Skillz (EP 100) ARK analysts, Nick Grous and Andrew Kim sat down with Andrew Paradise, CEO and Founder of Skillz Inc., a publicly traded company[1] and mobile games platform that connects players and developers, enabling competitive social games. They discussed his thoughts on the mobile gaming market, the technology stack necessary for mobile gaming platforms, monetization of mobile gamers, the importance of social experiences within and outside of games, and the rise of casual and professional esports. (Listen to the Full Episode)

5. Therapeutic Human Gene Editing with Dr. David Liu (EP 106) Alexandra Urman interviewed Dr. David Liu to discuss exciting developments in therapeutic gene editing. Dr. Liu is a Richard Merkin Professor, Director of the Merkin Institute of Transformative Technologies and Healthcare, Vice-Chair of the Faculty at the Broad Institute of Harvard and MIT, and the Co-founder or Founder of nine biotech or therapeutics companies. He’s published over 195 scientific papers and is the inventor of over 75 issued patents. (Listen to the Full Episode)

As the year comes to an end, we would like to thank everyone who listened to the FYI — For Your Innovation podcast. 2021 was another up and down year, as the world continues to battle the COVID-19 pandemic. In this final episode of 2021, we compiled some of our most interesting podcast episodes for you. Please enjoy this summary and tune back in when we return in 2022 with a new and improved version of FYI.

• Introducing today’s guests Dr. Omar Obadiah and Dr. Jonathan Gootenberg.
• How Omar and Jonathan connected in college and started collaborating.
• Omar and Jonathan’s interest in tool development and their work with CRISPR.
• The fulfillment that comes with developing methods and tools that can uplift everyone in biology.
• How sequencing proteins has progressed since Omar and Jonathan first started.
• The idea of creating new diagnostic tools using CRISPR.
• How CRISPR can be used to identify a virus in the body.
• Why we need to continue to explore CRISPR as a diagnostic tool.
• How fluorescence is used in CRISPR and its reaction when something is detected.
• The next phase of development we can expect from CRISPR as it relates to devices and consumers.
• The substantial amount of money that employers would save if employees didn’t come to work when they had symptoms of illness.
• The role of RNA in gene editing.
• Omar and Jonathan’s respective Eureka moments in their research.
• How RNA’s transience affects its use in gene editing.
• Some of the safety concerns with different gene-editing techniques and how they are addressed.
• CRISPR’s level of precision and why that is so beneficial.
• The safety profile of CRISPR versus small molecules.
• How delivery will be different for RNA versus DNA editing.
• The best tools for identifying the correct information and if there are any off-target edits.
• Jonathan and Omar’s predictions for gene editing ten years from now.
• Jonathan and Omar’s advice for students.
• How Jonathan and Omar had to persevere against preconceptions in their institutions regarding teamwork and setting out on their own.
• Why science benefits from collaboration.

As the year comes to an end, we would like to thank everyone who listened to the FYI — For Your Innovation podcast. 2021 was another up and down year, as the world continues to battle the COVID-19 pandemic. In this final episode of 2021, we compiled some of our most interesting podcast episodes for you. Please enjoy this summary and tune back in when we return in 2022 with a new and improved version of FYI.

• Factors that caused CRISPR to dominate the gene editing space.
• David explains the difference between DNA and RNA, using a football analogy.
• The goal that David centered his PhD around.
• Variety that exists amongst RND molecules.
• Benefits of targeting RNA in diseased cells, rather than DNA.
• Why RNA lagged behind DNA in terms of technological developments.
• A theory about the role played by RNA in the past.
• Methods of RNA editing.
• Comparing homology directed repair (HDR) and non homologous end joining (NHEJ).
• David provides a breakdown of the various different guides and enzymes.
• Three kinds of vector systems, and how they work.
• Examples of the types of RNAs that exist.
• What David is excited about in the future of the RNA technology field.

The ostensible premise behind social media platforms is to enable people to connect online, but this gets jeopardized by their attention economy architecture and paid advertising algorithms. Today’s guests are Joseph Gordon-Levitt and Jared Geller and they join us to speak about their platform, HitRecord, an online community built around creative collaboration. HitRecord offers artists of all kinds a platform to share their artwork or idea, and open it up to the input of other artists, thereby producing a trail that records the work’s progression much like GitHub does with code. In our conversation with Joseph and Jared, we hear about HitRecord’s journey from its early days as a production company to its current state as a tech company, offering decentralized access and editing capabilities to creative projects around the world. Our guests talk about some of the functionality on HitRecord and weigh in on some of the limitations of social media. We also explore the future of the movie industry, the blurring lines between creativity and technology, and what kinds of creative and community-driven art forms could grow out of quarantine and the pandemic.

Make sure to check out their latest project “Create Together #WithMe”, a new Youtube series about making art and community out of uncertain times.

• Introducing HitRecord, an online community built around creative collaboration
• Collaboration versus likes: connecting online differently to what social media allows
• Open-source culture: drawing from GitHub and Lawrence Lessig’s Remix for HitRecord
• Similarities between a software developer and an artist mindset
• The rules around attribution on HitRecord
• How the scope of projects made on HitRecord has grown and thoughts for its future
• The role technology played in making HitRecord’s contribution process more decentralized
• The value to be found by seeing and experiencing the process behind creative works
• Taking YouTube’s enablement of getting seen further by foregrounding the creative process
• Problem-solving using data versus emotion: the merge between tech and creative mindsets
• Hollywood’s heyday in the 1930s and the evolution of the movie industry
• The increased use of HitRecord in the pandemic
• TikTok’s genesis story and the pros and cons of the platform: music versus monetization
• The double-edged sword of new tech that become invisible but indispensable
• Lesser-known Joseph Gordon-Levitt films to watch during the quarantine

Today on the show, we welcome Austin Petersmith, Founder and CEO of Capiche. Capiche is a startup that aims to bring transparency and trusted reviews to the world of enterprise software. The SaaS industry has blossomed in recent years with dozens of tools being used across productivity, communication, databases and DevOps. In this episode, Austin gives an overview of how the modern software as a service (SaaS) industry was born and what’s coming down the pike. We hear the gap in the enterprise software customer experience that Capiche aims to fulfill and what the benefits are of having a communal space that fosters a mentality of users-helping-users. We also discuss the range of software available to us today and how the traditional top-down decision-making power within these structures is stretching across all employees into the hands of the individual. With more and more people settling into remote work during the coronavirus lockdowns, we explore the importance of having trust within organizations and why this is the most important leadership quality that needs to be practiced, right now.

Key Points from This Episode:

• Discover how Austin got interested in enterprise software and how Capiche began.
• The frustration with most software review sites when trying to find the right tools to use.
• The core differences between a personal peer-review and vendor-controlled review sites.
• Discover what Capiche is, how it works, and the gap it fills in the software community.
• The value of building a community around more honest and insightful conversations.
• Users helping users: Find out more about the discussions taking place on Capiche.
• Learn more about the mechanism Capiche uses to acquire users and get them to engage.
• The state of software for productivity today and the bottom-up adoption of software.
• Find out more about the SaaS trend and the consumerization of enterprise software.
• Using a well-known, established product versus using a new startup product.
• Is it really that easy for companies to chop and change software products today?
• Discover the general reception of Microsoft Teams among the Capiche community.
• Who is going to be the next Slack? Promising products to look out for on the horizon.
• Why trust is the most important thing when working remotely during the coronavirus.

In this virtual, remote, distant world we need to make sure that the technologies that support us can transfer information that is accurate, safe and trusted. For today’s episode, we had Dr. Alex Cahana join us to speak about the role Distributed Ledger Technologies will play in shaping business, health systems, and definitions of community in the post-pandemic world. Dr. Cahana is the Chief Medical Officer and Market Lead for ConsenSys Health. His experience is in military, healthcare and most recently, blockchain, and he believes that by ‘blockchainizing’ healthcare we can transform people from passive health service consumers into active, self-sovereign health and wealth producers. In today’s show, we discuss the importance of secure, trustworthy data to business and healthcare and how blockchain-based systems are ushering in a new era in this regard. Dr. Cahana tells listeners about what blockchain’s ability to remove ‘fakeness’ means for securing systems in health, law, news and more. Our conversation also covers the global pandemic and what it has emphasized, what we can learn from it, and how technologies that are being implemented now might be here to stay once things blow over. A key takeaway here is that surviving the pandemic should not come at the cost of our privacy. We discuss his efforts with “Failure Is Not an Option” (FINO) as far as their ventures toward reshaping business through blockchain, and the incentives blockchain could provide to people so that they can take a more active role in their own healthcare. Most importantly, Dr. Cahana’s message is that blockchain is a mindset. It represents a mentality where we realize that we have to work together and it enables a behavioral economy which makes things so secure that trust gets taken out of the picture. Tune in for Dr. Cahana’s big picture, cross-disciplinary insights.

• An introduction to Dr. Cahana and his work in military, healthcare, and blockchain
• Blockchain, distributed networks, and public/private business partnerships in the last month
• The role that Distributed Ledger Technology can play in monitoring supply chains
• Blockchain’s ability to stop ‘fakeness’ and how this applies to medicine, news, law, etc
• Combining blockchain with other technologies to keep health data private in the crisis
• Business, contact tracking, privacy: how blockchain and AI could shape the new normal
• Weighing the severity of concerns between non-specialist doctors and practitioner trauma
• What blockchain can do to relieve the issue of health practitioner trauma
• What FINO is doing to create new business models: ‘trustless’ blockchain systems in a post-pandemic world
• The evolution of technology and whether we will learn from mistakes that caused COVID-19
• Metrics to know whether our efforts to change are successful: a token economy
• The lasting effects that technological solutions will have; homeostasis vs allostasis
• Creativity, reflection, blockchain: three good things to come out of the crisis

From manufacturing to universities, companies and institutions are in turmoil across the board. During the time of COVID-19, businesses are being forced to look for better, faster, or cheaper solutions to the problems that they’re facing. Increasingly new technologies can provide help. We take a look at how businesses, brands, organizations, public services, and institutions are having to make drastic shifts in order to survive and adopt new solutions such as drones, 3D printing, autonomous driving, and online education. As the world makes behavioral shifts to the “new normal,” we are seeing how people are beginning to move toward automation in multiple areas of their lives – be it food delivery, pursuing education, or catching a ride. The entire world is at a tipping point where we are being forced to embrace the move to automation… who will be left behind?

• Learn more about customer responses to companies like Waymo, Meitwan, and Geely.
• The economic benefits of human-delivered goods versus robot-delivered goods.
• Discover how different companies are approaching electric automobility.
• COVID-19’s impact on ride hailing markets and companies like Tesla, Uber, and Lyft.
• How flying and ground drones are being employed for food delivery and medical check-ups.
• Learn more about the behavioral shifts towards using available technology platforms.
• Find out how 3D printing is serving the manufacturing process across a range of industries.
• Discover how more ventilators where built and used in Italy using 3D print technology.
• The surge in online education: How universities across the globe are adapting their courses.

The current coronavirus (COVID-19) pandemic has saturated media across the globe. The information available to us is vast, expansive, and can be all-consuming. But a lot of this information is, understandably, geared heavily toward medical and social topics. In this episode, we explore the impact of covid-19 on fintech companies. We ask the question, what does this mean payment methods and the future of transactions across the globe? George Whitridge and Max Friedrich, FinTech analysts at ARK, talks about how various countries have responded to the push for contactless payment methods, the economic benefits we’re seeing in contactless payments, and how companies and brands such as Zillow, Cash App, and DocuSign are responding to the current crisis. We also take a look at the response to the pandemic by The Small Business Administration and US banks, and why startups who live in uncertainty, are more likely to master this crisis than older business models. We ‘round off with some fascinating stats about just how dirty your credit and debit cards really are. If germs were a currency, perhaps we’d all still be in business? Tune in.

• The impact of WHO urging consumers to use contactless payments instead of cash.
• How the USA, South Korea, Emirates, India, and Ghana have responded to WHO’s advice.
• Is the Corona Virus the global need contactless payments have been waiting for?
• How digital wallets and digital payments impacted India’s economy: A 2016 case study.
• Discover how the Corona Virus has increased transaction habits in Grocery e-commerce.
• Merchants and software services: The two eco-systems Square is currently operating in.
• Benefits of having the consumer at a digital touch point to influence, inform, and incentivize.
• What we are seeing on Twitch that we are not seeing from any other payments company.
• Discover how small business payment processor companies, like Square, are functioning.
• Find out how brands like Cash App are reinventing what the dollar sign really means.
• The creative ways companies like Zillow are serving their consumers in this time of crisis.
• Learn more about the response from The Small Business Administration and the banks.
• Why your debit and credit cards are dirtier than cash – according to scientific studies.
• What a McDonald’s door-handle, NYC bicycles, and your credit card all have in common.

This week we are joined by Chip Paucek, 2U’s Co-Founder and CEO. 2U is one of the leading online education software platforms. At ARK we often say disruptive innovation gains traction in tumultuous times. There’s perhaps no better example than in the education space. For six years 2U noted that one of the biggest challenges was fighting the stigma of online education, and then in the midst of COVID-19 nearly every school has been forced into an online only setting. Tune in to hear Chip walk us through 2U’s critical role in helping schools’ transition from the classrooms to online. We talk about the challenges of 2U, how online learning can create more engaging classes, and how 2U’s scale can help lower the cost of higher education.

Key Points From This Episode:

• 2U’s role in transitioning both itself and its partner schools online during the COVID-19.
• 2U’s founding principles and what makes it unique.
• The difference between a lecture on Zoom and a program specifically designed to be online.
• Professors’ reactions to teaching online for the first time.
• The history and potential future of online education.
• Looking at education as an elastic good and creating a sustainable business model.
• Comparing online education outcomes through 2U and Gallup’s first survey.
• Reasons enterprises are turning to short courses and bootcamps.
• The lasting power of university brands.
• 2U’s global expansion.
• Chip’s favorite brand, book, and the next short course he plans to take.

As the coronavirus (COVID-19) continues to strengthen its grip across the globe, it’s natural to feel a sense of dread and despair. However, we believe that tumultuous times can be the best catalysts for innovation, and this pandemic is no exception. In this episode, Simon Barnett and Ali Urman, ARK’s genomics analysts, are here to discuss developments in genomics and biotech, underway in response to the COVID-19 crisis. Simon sheds light on the declining cost curve of DNA sequencing, which allowed scientists to sequence the virus in a handful of days—a stark contrast to the six months it took to sequence the SARS virus. We also discuss improvements in diagnostic tools like synthetic biology in the context of this pandemic. Ali zooms further in on some preventative medicine and vaccine developments. While traditional vaccines use the virus itself, companies like Moderna, Inovio, and Arcturus Therapeutics, among others, are working on a range of unconventional and potentially groundbreaking preventative measures. We also look at how existing anti-viral drugs are being repurposed for the treatment of COVID-19.

Lastly, we take a look at auxiliary areas where we have seen an increase of innovations. Simon highlights how telemedicine, organ transplant, and blood safety measures have seen growth during the crisis. Many of the developments are breaking down FDA barriers. We hope that these developments galvanize innovative approaches to prevention, diagnoses, and treatments not only for COVID-19 but for other diseases as well. Be sure to tune in today!

• The genomic and biotech companies who are doing innovative work.
• How the DNA sequencing timeframe for SARS and MERS compares with COVID-19.
• A look at other developments in DNA sequencing in light of the COVID-19 outbreak.
• Insights into some of the diagnostic tool developments such as synthetic biology.
• Find out about Moderna’s alternative development to the viral vaccine for COVID-19.
• Self-replicating RNA vaccine: How it works and who’s leading the development charge.
• Inovio’s DNA vaccine, how it works, and some the of benefits.
• How existing anti-viral therapies are being repurposed for the COVID-19 vaccine.
• Innovation is helping break down FDA barriers.
• The take-off of telemedicine.
• How the face of transplant care is changing in light of COVID-19.
• What usually happens with blood supply during an outbreak and the current innovations.

Here at ARK we are always talking about disruption and now we are faced with huge disruption. The coronavirus outbreak has massive implications on many levels for the whole world, not least of which is the need for many people to work remote where possible. This episode is a discussion about what that looks like during a time of mass quarantine. We are focusing our discussion on the realms of communication and entertainment. First of all, we discuss video conferencing and naturally, our eyes are on Zoom. Having grown rapidly in the last few years, Zoom will probably prove to be even more important as social distancing is enforced. From there we turn to messaging and texting in a professional context, looking at Slack in particular. We consider some of the other concerns in this period of remote work, particularly security and how the cloud has helped businesses alleviate security concerns. The conversation then turns to entertainment, as we first look at professional sports events, almost all of which have been postponed or canceled, and what might take their place in people’s lives. We can already see E-sports growing, even before the outbreak. We finish off talking about television and movies, arguing that on-demand services will probably strengthen under current conditions with traditional cable suffering due to the absence of sports. Listen in to get it all!

• The new outlook on working from home in a time of crisis
• Eric Yuan, the beginnings of Zoom and the rise of video conferencing software.
• How Zoom has managed to gain market share.
• Possible problems and roadblocks for Zoom as more people need more time on video.
• Zoom’s hardware, in-house data centers and excess capacity for scaling.
• Reasons for Zoom’s hyper-competitiveness in today’s market.
• Real-time, quick communication through text messaging; Teams versus Slack.
• Security concerns in the remote work realm and the benefits of cloud applications.
• The outlook for these high-value companies in the context of coronavirus.
• Looking at entertainment right now and the rise of gaming in lieu of live sports.
• Twitch-streamed virtual sports events and the possibility of celebrity partnerships.
• Regular, amateur gaming numbers in the US with new big event games.
• On-demand television and movie entertainment.

Our guest for this week’s episode is Nic Carter, Partner at Castle Island Ventures and Cofounder of Coinmetrics.io. In this episode, we dive deep into some of Nic’s current cryptocurrency obsessions. We start off covering the history of Bitcoin’s predecessors, leading to an interesting realization that the crypto industry today may be forgetting the lessons drawn from previous attempts to create a private money. We then shift the conversation to stablecoins and the implications of their continued growth. In doing so, we highlight that stablecoins today are virtually no different than reserve-backed currencies of the past. We end the conversation on an interesting theory that, contrary to popular belief, crypto may actually be good for the dollar. We explore different cases of dollarization and the heterogenous mechanisms by which they’ve emerged. Tune in for all of that and more!

• How Nic became Fidelity’s crypto analyst after a brainstorm with former ARK analyst Chris Burniske.
• Bitcoin’s most underappreciated property: ‘auditability’
• The birth of Coinmetrics
• Anonymity, reliability, and the distinction between digital cash and electronic money.
• Bitcoin is the culmination of disparate prior technologies.
• A history of Bitcoin’s ideological predecessors: E-Gold and Liberty Reserve.
• The fundamental role centralization played in Bitcoins predecessors’ downfalls.
• The appeal of fiat-backed stablecoins.
• Why it is unlikely that Ethereum will unseat Bitcoin, and Libra’s loud ploy to overthrow centralized currency.
• Dollarization: benefits, adoption patterns, and how successful iterations are bottom up.
• Why crypto is potentially good for the dollar due to the dollar’s desirability.
• How credibility, not just technology, affects the adoption of new payment systems.
• The benefits of seedless mobile wallet setups.

Today’s guest is Matt Zeiler, Founder, and CEO of Clarifai. Clarifai is one of the first startups to apply modern deep learning for image recognition. Their tools are currently used by clients like Staples, OpenTable, and the US Department of Defense (DoD). In this episode, Matt sheds light on the company’s founding story and how an internship at Google was the catalyst for the creation of Clarifai. He also talks about what it’s like competing against industry giants like Facebook and Google. Clarifai’s algorithm and their ability to collaborate rather than compete with their clients truly sets them apart. Matt also sheds light on the benefits of the network effect for both the customers and the company. Matt talks about some of the interesting use cases of their technology, like Trivago, which uses image recognition to organize hotel photos or how the DoD uses it in natural disaster recovery. Matt believes that AI is a great service to the government in helping citizens in many ways, and Clarifai is incredibly proud to be a partner. Tune in to learn more about AI image recognition and be inspired by Matt.

• Learn more about Matt’s background, his Ph.D., and what ultimately led him to start Clarifai.
• Seven years on: Clarifai’s products, their customers and how they use the products.
• Some of the other applications of AI that Clarifai is potentially interested in getting into.
• How Clarifai aims to gain a competitive advantage.
• Why the API model works so well in the AI image recognition space.
• The different mix of products Clarifai customers use and why they choose them.
• Learn about the benefits that customers get from sharing their information on Clarifai.
• Why there is not really a limit to how large Clarifai’s model can grow.
• Where Matt sees Clarifai’s potential labeling feature taking the company in the future.
• Matt’s experience of working with the government and why he is proud to work with them.
• How AI could be used in natural disaster recovery efforts.
• The potential of video in the space, the neural network structures, and various use cases.
• Matt’s insights into the AI competition between the US and China.