Cathie Wood Hails Elon Musk's Visionary Impact: 'He's Transforming The World. Saving Humanity From Itself ... Is Extremely Important To Him''

In a discussion at the global sports leader conference in Kiawah, S.C. this week, Cathie Wood, the CEO of ARK Invest, shared her perspectives on the future of technology and investment with Andy Serwer.

Wood, known for her deep conviction in the transformative power of technologies like artificial intelligence (AI), robotics, and blockchain, is not just enthusiastic about these areas — she sees them as her mission to share with the world.

Barron's reported that Wood's optimism about Tesla Inc. TSLA and its future in the autonomous vehicle sector, despite recent skepticism due to weaker-than-expected orders, underscores her belief in the potential of disruptive technologies. 

During her conversation with Barron's Andy Serwer, Wood argued that Tesla is more than an auto manufacturer — it's at the forefront of robotics, energy storage and AI, promising to revolutionize the industry with high-margin business models akin to software as a service.

Contrary to the retreat from electric vehicles (EVs) by traditional auto giants like Ford and GM, Wood predicts that Tesla's innovations and price reductions will dominate the market.

Her strategy of buying low and selling high reflects her investment philosophy, further highlighted by her stance on Elon Musk and his unchanged dedication to advancing technology.

Also Read: Concerns Mount As Elon Musk's Illegal Drug Use Sparks Alarm At Tesla And SpaceX: WSJ

When asked about Wood's concern about Musk’s behavior and how he has changed, Wood said, “Oh, no, he’s not any different at all.”

“Honestly, we’ve met with him, obviously, a number of times. I think he’s extremely focused on the barriers to entry that his companies have, [and] pushing technologies forward. We’re learning more about what he’s going to do in terms of block manufacturing, moving away from the assembly line, and rethinking everything. I think he’s transforming the world. Saving humanity from itself, in terms of EVs and energy storage, is extremely important to him. Look at what he does, not what he says.”

Wood also emphasized the importance of X, formerly known as Twitter, as a platform for sharing ARK Invest's research and engaging with innovation communities.

Despite the volatility of ARK Invest's returns, Wood remains undeterred, advocating for investments in what she views as the new Nasdaq of disruptive technologies.

Addressing concerns about crypto's environmental impact and misuse, Wood compared these early criticisms to those once levied against the internet, highlighting the innovative uses of Bitcoin mining to promote environmental sustainability.

Now Read: Is Elon Musk Becoming More Like Donald Trump? One Report Suggests So

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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