FYI - For Your Innovation – Details, episodes & analysis

Imagine never having to hunt the internet for the lowest price on an item again! This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous discuss the evolving landscape of digital wallets and purchasing agents, focusing on Klarna's recent developments.

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:

• Klarna is evolving from buy now, pay later to digital wallets.
• The introduction of purchasing agents could disrupt traditional marketplaces.
• Digital wallets may become a winner-take-most market.

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

In this episode of FYI, Brett Winton, ARK Invest’s Chief Futurist, and CEO/CIO Cathie Wood, engage in a discussion with Seungyeon (SY) Kim, the CEO of Toss Securities. SY shares his journey from working at global tech giants like Google and TikTok to leading Toss Securities, a company often dubbed the "Robinhood of Korea." The conversation explores the unique approach Toss Securities takes by integrating social media features into its trading platform, fostering community engagement among investors. They also discuss the retail investing landscape in Korea, the potential global expansion of Toss Securities, and the intersection of social media, finance, and AI in reshaping the future of trading.

"In a couple of years time, I don't think we might need apps or mobile phones to trade stocks." - SY Kim

Key Points From This Episode:

• SY’s career journey from Google and TikTok to becoming the CEO of Toss Securities.
• The unique social media features integrated into Toss Securities' platform.
• Comparisons between Toss Securities and Robinhood, and the distinct approach SY’s team takes.
• The impact of social engagement on trading volumes within the Toss platform.
• The potential role of AI in the future of trading and investing.
• The growing interest of Korean investors in U.S. equities, driven by market trends and cultural factors.
• The importance of innovation in both the tech and financial sectors and its implications for the future.
• The regulatory environment in Korea and how it supports innovation in financial services.
• Toss Securities' ambitions for international expansion, particularly in the U.S. market.
• The relationship between crypto market trends and the growth of retail investing in Korea.

Are we entering a no-code future? 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 Sakana AI, a project by an AI research lab in Japan that aims to automate the scientific method. The team has created a system that can generate research ideas, write code for experiments, and produce academic papers. While the system shows promise, it has limitations and is better at tasks it was trained on. The conversation also touches on the future of coding, the potential for a no-code future, and the importance of communication skills in working with AI.

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:

• Sakana AI is a project that aims to automate the scientific method by generating research ideas, writing code for experiments, and producing academic papers.
• The system shows promise in accelerating the research process and generating new ideas, but it has limitations and is better at tasks it was trained on.
• The future of coding may involve higher levels of abstraction, with AI systems generating code based on human language prompts.
• There is a potential shift towards a no-code future, where people can get what they need from AI systems through simple text prompts.
• Effective communication skills will become increasingly important in working with AI systems, as they rely on clear instructions and prompts.

For more updates on Public.com:

Website: https://public.com/

YouTube: @publicinvest

Twitter: https://twitter.com/public

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.

1. ESPN BET
2. 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.

1. Intro
2. Crypto Outlook
3. The Hunt for AI Computing and CoreWeave
4. Audience Q&A

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