The Ark Invest CEO also bemoaned the recent crackdown on Didi and other Chinese technology companies, argued that long-term technology investments can matter more than profit margins today, and advised workers to switch jobs if their excellence goes unrecognized.
Cathie Wood suggested Tesla will follow Apple in capturing the lion’s share of its sector’s profits, predicted new technologies will reshape entire industries, and explained what traditional finance professionals don’t appreciate about bitcoin and other cryptocurrencies, in a five-part RealVision interview this week.
1. “I feel that I was put on Earth to do this, that if I had retired at 57 instead of starting ARK, that I would not be a happy woman. I feel like I’m a vessel for something that was meant to be.”
2. “I’ve loved being a woman in this business. I’ve had amazing mentors who have given me growth opportunities. And if a person – a woman or a man – delights their bosses but does not get a shot at promotions even though the numbers are speaking loudly, you have to move on. Just cut your losses, and bring your brilliance and your ideas to another team.”
3. “We are on the cusp of more change than has ever happened. There’s going to be tremendous disintermediation and disruption. We see the energy sector, financial services, any industry touching the internal combustion engine and its suppliers, anything really physical in terms of being the touchpoint for the consumer, the point of sale – in harm’s way.”
4. “There’s huge inefficiency in the research behind and the investment in Tesla, so much so that our target price right now for our base case is roughly $3,000. People think that’s a crazy number. Right now, the stock is closer to $700. We believe that the reason there’s such a big inefficiency in Tesla’s valuation is the short-term time horizon of analysts and the wrong analysts following it.” – Wood suggested analysts don’t grasp the full potential of Elon Musk’s clean-energy company.
5. “Apple understood that a cell phone was really a computer well before Nokia, Ericsson, and Motorola did. It designed its own chip because Intel and Qualcomm, they were going with the volume players, and Apple was nowhere, right? By designing its own chip, it now still has the lion’s share of the profits in the cellphone market. Even though its share has gone down, its value has gone up. We think that’s what’s going to happen to Tesla.”
The News Highlights
- In a new interview, Cathie Wood of Ark Invest likened Tesla to Apple, forecasted global technological upheaval, and explained the basic purpose of cryptocurrency. The top ten quotations are shown below
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