Fast Facts
- ARK Invest has shared bold new data about the future of tech
- Cathie Wood weighed in with her own take
- The new info caught Elon Musk's attention
Asset manager Cathie Wood has long been a fan of disruptive innovation in the tech world.
Her past investment choices have included everything from Elon Musk's Tesla — she's been especially vocal about its robotaxi ambitions — to biotech innovators such as Crispr and Personalis.
Related: Cathie Wood sells $48 million of cloud tech stock
New data posted by her Ark Invest on the evening of March 21 gives a glimpse into the future Wood sees in these companies, as well as the potential evolution of tech on the whole.
Posted on X by Ark Invest's chief futurist, Brett Winton, with the note "welcome to the great acceleration," the graph shows the evolution of general purpose technologies, starting with the steam engine in the late 1700s, and looks forward to the 2030s, where Ark predicts unseen peaks related to AI, adaptive robots, cloud computing, and more.
Wood weighed into the tweet herself, saying, "Based on first principles research that @wintonARK has synthesized here, @ARKInvest believes that disruptive innovation will turbocharge real GDP growth from ~3% at an annual rate during the past 125 years to 6-8% during the next 15-20 years. Get on the right side of change!"
Based on first principles research that @wintonARK has synthesized here, @ARKInvest believes that disruptive innovation will turbocharge real GDP growth from ~3% at an annual rate during the past 125 years to 6-8% during the next 15-20 years. Get on the right side of change! https://t.co/VFLUdGebiG
— Cathie Wood (@CathieDWood) March 22, 2024
Musk replied to the tweet, saying simply, "Wow."
Wow
— Elon Musk (@elonmusk) March 22, 2024
Despite ARK's ambitious outlook, plenty of investors remain hesitant about the future, especially when it comes to Wood's beloved Tesla.
One of those is Future Fund's managing partner, Gary Black, who to date has not included several of Tesla's AI pursuits in its valuations. Black explained his reasoning in a tweet thread, calling the lines of business "arbitrary."
"X investors always give us grief for not including robotaxi, [Full-Self-Driving] licensing or Optimus valuations in our" price targets, Black said, referring to Tesla's robot. "That discipline has worked well for us so far in avoiding posting outlandish price targets based on arbitrary assumptions."
Related: Here's why the Tesla bears are starting to outnumber the bulls
