FYI - For Your Innovation show

FYI - For Your Innovation

Summary: The FYI - For Your Innovation Podcast offers an intellectual discussion on recent developments across disruptive innovation—driven by research, news, controversies, companies, and technological breakthroughs. Hosted by ARK Invest analyst James Wang, ARK and guests provide a unique perspective on how to best understand disruptive innovation.

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  • Copyright: © 2019 ARK Investment Management LLC

Podcasts:

 An Exponential View of the Future, With Azeem Azhar | File Type: audio/mpeg | Duration: 00:40:31

On the show today we welcome none other than Azeem Azhar, early stage investor and founder of the Exponential View newsletter and podcast. Azeem is here to talk to us about his own work in covering the latest and most innovative developments in technology as well as comment on the current startup and tech landscape, the European market, and offer some exciting future predictions for our listeners! We discuss his audience and the mutually generous relationship he shares with them, some of Azeem’s concerns for the near future, nano satellites and of course, the cloud. Azeem offers first hand insights into the differences between the startup scenes in the US, Europe, and China and the reasons for these disparities. He also comments on the increasing speed of the innovation cycle and moving past Moore’s Law into new territory. For this great conversation, be sure to join us today!                Key Points From This Episode: The intersection of ideas that inspired Azeem’s newsletter, Exponential View Future risks and things that should be taken more seriously now Technology rollouts and some of the current hazards The absence of European companies at the top of the technology ladder Key influential factors in the different national tech and startup statistics European companies that might break into the higher circles soon The innovation cycle and why Azeem is so excited about nano satellites Imagining the end point of the historical development of cameras and video footage Edge computing and the balance of local computing   Tweetables: “The balance of how we think about technology has changed over the last five years.” —  @azeem [0:05:58] “There are lots and lots of calls for facial recognition and then by extension, biometric recognition to need to come under some kind of regulatory blanket.” — @azeem [0:08:56] “That line was previou

 The Future of Food Delivery with James Wang | File Type: audio/mpeg | Duration: 00:24:51

Food delivery platforms like GrubHub, Uber Eats, and Meituan are taking over the world. In this episode, ARK Internet Analyst James Wang shares his insights on the food delivery business and why he thinks this industry is about to take off now. He talks about the changing nature of our food consumption patterns and admits he’s guilty of ordering more food than the average US citizen. James tells us more about the growing penetration of food delivery platforms, the complexities of marketplace businesses, and why he considers them three sided networks. We discuss food delivery services in China and explain what “dark kitchens” are. Join us for a great episode as we learn more about the future of food delivery services!              Key Points From This Episode: Why internet companies are successful What the next wave of internet businesses can look like Why food delivery services are taking off now What delivery services mean for restaurants Marketplace businesses are three sided networks The current penetration of food delivery services Explosion of food delivery in China Autonomous driving may be the future of food delivery What dark kitchens are Tweetables: “Where we see a marketplace business, we have very attractive economics.” —  @jwangARK [0:05:00] “It is a few humans guiding the robots and they are just pumping out chicken salads like no tomorrow.” — @jwangARK [0:22:20]

 Evolving Narratives in the Crypto Space with Andreas M. Antonopoulos | File Type: audio/mpeg | Duration: 00:33:06

On the show today we welcome Andreas M. Antonopoulos (@aantonop) to chat with us about his perspectives on the current crypto space, the contrasting developments of Bitcoin and Ethereum, and the massive role that design choices play in the future of these two currencies. We also welcome cryptocurrency analyst Arjun Balaji (@arjunblj) as a co-host for this episode. Together we field some introductory and more complex questions on ways in which Bitcoin and Ethereum compete, could potentially replace each other, and areas in which their goals might overlap. We talk about ideological choices from consumers, some of the pitfalls of Ethereum and why he has very little interest in which is the better investment. Andreas also explains scaling solutions and privacy concerns. For all of that and more, tune in today!              Key Points From This Episode: Comparing the paths and goals of Bitcoin and Ethereum. Considering the idea of one of the currencies replacing the other. The privacy concerns and how they play into each culture. Ideological alignment choices by consumers. Andreas’ motivation for writing a book about Ethereum. Potential pitfalls of Ethereum and Andreas’ biggest reservations. Scaling solutions with regards to Ethereum. Reconfiguring our perceptions of cryptocurrencies as tools for particular jobs.   Tweetables: “The two systems have evolved, not in a random mutation, in a directed evolution perspective. That evolution has been informed by dozens and dozens of design choices.” — @aantonop [0:04:30] “The early design decisions and tradeoffs that were made for Bitcoin made it suitable to be a very robust, very secure, nation state resistant, censorship resistant, form of global money.” — @aantonop [0:05:54]

 How Siraj Raval Built One of the Most Popular AI Channels on YouTube | File Type: audio/mpeg | Duration: 00:34:01

In this episode of FYI, we chat with Siraj Raval, Director of the School of AI, data scientist, entrepreneur, and much more. Siraj is a leading YouTube educator on the topic of AI and has helped half a million subscribers stay abreast of AI and the latest developments in the field. Today we discuss what prompted his focus on AI in general and deep learning in particular. Siraj also explains some of the recent news stories that have excited him and what he thinks we should pay more attention to. He talks about DeepMind’s AlphaFold, Open AI, self-driving cars and AI text generation. For all this and more, join us on today’s episode!              Key Points From This Episode: The turning point when Siraj decided to focus on YouTube teaching. Siraj’s unconventional and data driven approach to content creation. Why Siraj thinks people should pay more attention to Deep Mind’s AlphaFold and China. Comparing AlphaFold to previous algorithms for protein folding. Understanding Open AI’s text generator. Can we have intelligent AI without solving consciousness? Scaling existing systems versus breakthroughs and leaps. How Siraj has applied himself to public education instead of high profile company work. A little bit more about School of AI. Reasons for Siraj’s interest and belief in China. And much more!   Tweetables: “I mean the best we can do is to just try to make as many people as aware of this as possible and get as many different types of perspectives and cultures and value systems and genders and just all the different types of brains looking at this problem as possible.” — @sirajraval [0:19:22]

 The Evolution of The Rocket Industry with Eric Berger | File Type: audio/mpeg | Duration: 00:23:12

In this episode we are joined by special guest Eric Berger, the senior space editor for Ars Technica, as well as our very own automation, energy, and space analyst at ARK Invest, Sam Korus. Together we deep dive into the space industry, particularly the rocket industry, and discuss a new area of space exploration. We discuss how more affordable access to space will likely be a game changer and how it could open up a whole range of new business opportunities. For instance, why do companies and startups pursue global internet or commercial space travel? For an incredible conversation, be sure to tune in!              Key Points From This Episode: Hear more about Eric Berger and how he got into researching the space industry. The evolution of the ecosystem to support the small rocket industry. Understanding the foundational movement in aerospace called new space. The reasons why companies are going after global internet. The premise behind the Space X business plan – offering relaunch ability and reusability. NASA’s research program on supersonic air travel. Why smaller companies are willing to innovate while established players are playing it safe.   Tweetables: “Space X needs more competitors, I think, to really see the price drops that they advertised in the past.” — @SciGuySpace [0:12:00]

 On the Road to Full Autonomy With Elon Musk | File Type: audio/mpeg | Duration: 00:29:09

Today we are thrilled to be in Fremont, CA with Tesla CEO Elon Musk. In this episode Tasha Keeney, Analyst at ARK Invest and Cathie Wood, Founder, CEO, and CIO at ARK Invest chat with Elon about the future of Tesla and autonomous driving. The podcast conversation kicks off by sizing the upcoming boom in global electric vehicle demand which leads into a discussion around linear versus exponential growth. Elon explains Tesla’s competitive edge against autonomous driving peers like Waymo and talks about a key upcoming milestone for Tesla, which he thinks most people are overlooking. Elon shares his insights about Tesla’s autonomous strategy, and the timeline of how the process is laid out. We also discuss the autonomous driving regulatory environment and the crucial role that machine learning plays in getting full autonomy on the roads. For an incredibly insightful conversation do not miss out on this podcast episode.              Key Points From This Episode: Sizing the market for electric vehicles Tesla’s competitive advantage in data collection The roll out strategy for fully autonomous driving features Regulatory response and safety proof points Why Elon believes Tesla has the best people to solve this problem. Importance of consumer use of autopilot to further the process. The balance between hardware and software to achieve full autonomy Tesla’s approach to letting other automakers use their technology. Curveball Question: What does Elon think about Bitcoin?   Tweetables: “Small changes in the calendar breakpoint have enormous percentage differences. The time difference is small, but the percentage difference is enormous.” — @elonmusk [0:06:07] “People think sometimes that I’m like a business person or finance person, or something like that. I’m an engineer. I do engineering, always have.” — @elonmusk [0:12:33] “The reason Tesla is making rapid prog

 The Effects of Automation and Robots in the Food Industry with Sam Korus | File Type: audio/mpeg | Duration: 00:13:02

We are joined by our very own automation, energy, and space analyst, Sam Korus. Our topic of conversation is automation in the food industry and how robotics “in front and back of house” might change the industry. A simple reaction to more automated jobs is that it decreases the demand for human roles. However, Sam explains how further automation can actually stimulate human employment through price drops and demand increases. We chat about what sorts of roles can be fulfilled by robots currently and the types of services that are already in place in certain locations. Sam quickly explains how the predicted job increase could work and shares with us his research findings for automation in the food industry. Sam will talk about collaborative robots, use cases coming out of China, and more.              Key Points From This Episode: Why more automation and robots could actually increase job numbers. Obvious options for automation in the food industry. An overview of the predicted results of higher automation. The statistical growth we could see in the US food industry. Collaborative robots and “back of house” use cases.   Tweetables: “We wanted to kind of tackle this in a quantitative way, to show, you could have robotics enter an industry and create growth in that industry without destroying jobs.” — @skorusARK [0:01:31] “When we’re looking at it, we say that if the price elasticity of demand is greater than productivity improvements, then that should create jobs.” — @skorusARK [0:02:09]

 Economics, Trade Relations, And Innovation — Recognizing Investment Potential with Dr. Art Laffer and Cathie Wood | File Type: audio/mpeg | Duration: 00:33:42

Welcome back to FYI, the For Your Innovation Podcast from ARK Invest. Today on the show we are joined by two special guests. First we have, Catherine Wood CEO and CIO of ARK Invest, as well as a her mentor, former professor, and advisor to ARK Investment Management LLC, Dr. Art Laffer. You might know Dr. Laffer from his famous Laffer Curve. He first gained prominence during the Reagan administration as a member of President Reagan’s Economic Policy Advisory Board. Dr. Art Laffer is also the founder and chairman of Laffer Associates, an institutional economic research and consulting firm, as well as Laffer Investments, an institutional investment management firm utilizing diverse investment strategies. In today’s episode we reflect back on Dr. Laffer’s time in the Reagan administration, and what technology and economics was like back in the 80s. We also unpack exactly how the Laffer Curve works, and why cutting taxes can actually result in generating more income for a country as a whole. Finally, we dive into the intricacies of the US-China relations, why they are critical for economic advancement, and the incredible opportunities that lie within free trade. For all this and more, be sure to listen in to today’s episode!              Key Points From This Episode: Laffer’s introduction to ARK Invest and his first impressions. Reflecting back on the 80s and Dr. Laffer’s time in the Reagan administration. The technology perspective of the 80s: the technology boom cycle. A brief overview of the Laffer Curve, and why it was created. Recognizing the benefits of cutting tax rates to generate more income. The current state of where the US economy is headed. Laffer’s view on today’s US and China relations Importance of a great trading relationship with China. What free trade would do for the markets; investment attraction. Books Dr. Laffer is reading that are exciting from a t

 The Bitcoin Centralization Narrative with Yassine Elmandjra | File Type: audio/mpeg | Duration: 00:29:56

In this episode we are joined by our very own crypto-analyst, Yassine Elmandjra, to talk about the idea that Bitcoin is becoming increasing centralized. This narrative has been growing over the last while with bigger entities supposedly controlling larger portions of the blockchain. Yassine shares his perspectives, ultimately showing that this argument has some serious flaws and that the blockchain has attributes that can prevent so-called “market control”. In our discussion, we cover the basics on the blockchain, mining, and the threat of a “51% attack” before going on to talk about pool centralization and its non-desirability. All of this is explained with the history of Bitcoin in mind. We are looking at the developments in blockchain technology from the last few years. For all this and much more, be sure to tune in!              Key Points From This Episode: Why does it matter if Bitcoin is becoming more centralized? Understanding mining and the basics of the blockchain. 51% attacks, Bitmain and mining equipment. Looking at the evolution of Bitcoin mining since 2009. Assessing the threat of mining pool centralization. Reasons why it is not really desirable or feasible to gain 51% of any mining pool. The changes in concentration in the Bitcoin blockchain. The improvement in mining pool concentration over the years. Lowering electricity costs through stranded energy assets. Tweetables: “The claim that Bitcoin mining is centralized is largely overblown. Mining pool turnover is high and hashpower control continues to diffuse. Just in the last half of 2018, Bitmain’s mining pools lost 28% share.”— @yassineARK

 Wright’s Law — Understanding Technology Cost Curves with Brett Winton | File Type: audio/mpeg | Duration: 00:29:29

Our guest today is ARK’s very own Director of Research, Brett Winton. He is here on the podcast today to talk about the recent article he published titled Moore’s Law Isn’t Dead, It’s Wrong. Long Live Wright’s Law. In his piece and during this conversation, Brett unpacks the concepts in question and what sparked his desire to make this argument. He explains the popularity of Moore’s Law, used to forecast the growth of technologies, and goes on to show why he thinks it is not the best model for the task. Brett posits that Wright’s Law is better for this application and gives reasons and examples to back up his thesis. For instance, we will discuss electric vehicles, genome research, computing, and nuclear power. Be sure to join us on today’s episode!              Key Points From This Episode: Understanding the differences between Moore’s Law and Wright’s Law. Applying Wright’s Law to electric vehicles and other potential markets. Working elasticity of demand into the equation. Using Wright’s Law to forecast the future of genome sequencing. Looking forward to the possible futures of healthcare. Declining demand for computational power and the arc of transistors.   Tweetables: “We’ve applied Wright’s Law to electric vehicles, genome sequencing, robotics, and 3D printing. Anything where you’re manufacturing a physical thing, this law is very applicable.” — @wintonARK “Wright’s Law captures the fact that if there’s economic opportunity decision makers will throw more resources at it to win the market.” — @wintonARK

 Cryptoassets – A review with Chris Burniske of Placeholder | File Type: audio/mpeg | Duration: 00:49:31

On the show today we welcome Chris Burniske of Placeholder, a venture capital firm that invests in cryptoassets. Chris is a friend and former colleague of ours at ARK Invest and he will be discussing all the latest developments in the crypto space as well filling us in on Placeholder’s projects and founding ideas. Yassine Elmandjra (ARK analyst) is also here to help conduct the interview and further our probing of Chris’ expertise. We aim to provide a review of the past year and get into the idea of defining a new economy before breaking down some of the key areas of interest relating to Bitcoin. Chris unpacks store of value and medium of exchange, what the future may look like, volatility and much more on the vanguard of the crypto world. The discussion turns to some other prominent cryptocurrencies before looking at regulation and global approaches to the growth of the cryptoassets. For all this and much more be sure to tune in! (Note: This episode was recorded 11/07/2018)              Key Points From This Episode: A recap of the last year for Chris and his venture capital firm Placeholder Placeholder’s underlying and primary thesis. Looking at Bitcoin since its inception Weighing Bitcoin’s store of value versus it being a medium of exchange. How to measure Bitcoin’s future success as a currency. The long-term arc of Bitcoin’s volatility. Regulation and “do no harm” sentiments in the crypto space. The U.S. government’s role and involvement in the crypto space. Looking at international attitudes towards crypto. And much more!   Tweetables: “We decided to raise a venture fund while most everyone was raising hedge funds at the time because for us a venture fund aligns the interests of the investor directly with the entrepreneur.” — @cburniske [0:02:11.4] “What is invariant is our close working relationship with every team.” — @cburniske [0:03:57.8]

 Building a Sustainable Future of Electric Powered Vehicles | File Type: audio/mpeg | Duration: 00:12:23

Welcome back to another episode of the For Your Innovation Podcast. Today on the show we are joined by Sam Korus, ARK’s Thematic Analyst covering robotics, energy storage, and space exploration. In this episode we are going to talk about the fundamental materials you need to build a future powered by electric vehicles and digging into the question of whether or not the earth has enough of those core minerals, like lithium, cobalt, and manganese. Sam has been researching the fundamental ingredients of batteries and where we are in the state of batteries for a long time, so it is really exciting to get his take on exactly where we are and what research and innovation has planned for the next few years. For an incredible conversation, stay tuned to today’s episode!   Key Points From This Episode: Primary industrial ingredients and elements we need for battery chemistry. Understanding the global supply chain for a lithium ion battery. Why commodity reserves should not be seen as stationary. How new technology incentivizes and enables the increase of reserves. The reason why Tesla is focusing on using less cobalt in their batteries.   Tweetables: “For lithium, we have 400 years’ worth of reserve at current production level.” — @skorusARK [0:03:32.4] “It’s incorrect to think that reserves are stationary.” — @skorusARK [0:04:28.1] “The interesting thing about cobalt is that it’s a byproduct of nickel and copper mining, which means that you can’t open up a mine just to mine cobalt.” — @skorusARK [0:08:02.1]

 CRISPR Controversy – A conversation with Stanford Prof. Henry Greely | File Type: audio/mpeg | Duration: 00:33:42

On the show today we welcome Professor Henry Greely from Stanford to talk a about the recent developments in the genetic field and particularly the latest controversy around CRISPR technology. Professor Greely is the Director at the Center for Law and Biosciences at Stanford, he’s a Professor of Genetics at the Stanford School of Medicine, and a Chair at the Steering Committee of the Center for Biomedical Ethics. Inside this episode we get a background on gene-editing and CRISPR technology. Prof. Greely breaks down the basic story of Dr. He Jiankui, a Chinese scientist who conducted a gene-editing experiment with twin babies, causing serious concerns in the scientific community and raising ethical questions. From there we discuss alternatives to CRISPR and ways in which the technology could be utilized more conscientiously in the future. In this context, we will also give some attention to the global position of China and the political landscape. For all this and more be sure to tune in!              Key Points From This Episode: An outline of CRSPR and an introduction to today’s conversation on ethics What Dr. He Jiankui has reportedly achieved with twin babies in China CRISPR controversy: Weighing the risks and benefits of Dr. He’s experiment Ways in which germ line editing might be used in the future Looking at the germ line editing alternative preimplantation genetic diagnosis How CRISPR might be used more ethically and safely The far-reaching possible effects of this experiment in China The current regulatory landscape of the genetic modification field How China fits into the global field of ethics in science Looking at a possibly bright future for CRSPR technology Tweetables: “My sense is he wanted to become famous in the worst possible way and he has become famous in the worst possible way.” — Prof. Henry Greely [0:06:46.6] “One of the two most basic rules of human subjects research is the risks have to be justified by the potential benefits. The potential bene

 Amazon AWS – The Everything Store for Enterprise Computing? | File Type: audio/mpeg | Duration: 00:24:33

Welcome back to a new episode of FYI, For Your Innovation Podcast, a podcast exclusively focused on disruptive innovation. Today on the show Yassine Elmandjra will be co-hosting the podcast with James Wang. We will be diving into the recent announcements at the AWS re:Invent Conference and what it means for the cloud computing space as a whole. Just how Amazon is the everything store for consumers, it seems like Amazon Web Services (AWS) is really the everything store for business and enterprise computing. Inside this episode we explore how Amazon has been able to take over an increasing amount of verticals, their shift into the enterprise software space, and how they are strategically eliminating the competitive edge of other companies with each new product release. We also dig into the importance of owning the customer relationship and why that has given Amazon a much greater insight into the consumer market on all fronts. For an incredible conversation on Amazon’s disruptive innovation, stay tuned in to today’s episode!              Key Points From This Episode: The increasing number of verticals covered by AWS Amazon’s transition from the consumer stack to the business stack Overview of the AWS Outposts feature: on premise cloud solution Why on premise cloud has taken over at least half of the cloud market How AWS Outposts differs from existing hybrid cloud solutions Amazon’s own server chips: Graviton How ARM based processors differ from existing chips What it means for businesses to own the relationship with the customer The benefit Amazon has from profiling billions upon billions of computations Biggest takeaway from Amazon’s QLDB announcement   Tweetables: “AWS can be considered the everything store for business and enterprise computing.” — @jwangARK[0:02:43.1] “Amazon is a very pragmatic company. So I would sa

 Micromobility and the Future of Transportation with Horace Dediu | File Type: audio/mpeg | Duration: 00:46:30

In this episode of the For Your Innovation Podcast, we chat with Horace Dediu of Asymco about his ideas on micromobility. With the unpredictable and burgeoning market that Horace is immersed in and fascinated by, there is so much to unpack and discuss in terms of possibilities and implications. This discussion offers a large array of thoughts and considerations for anyone connected to the future of transportation. It seems clear that micromobility will be a force to be reckoned with in the world of transit as well as in the global economy. Horace expertly explains many of his thoughts and goes into detail regarding possible permutations across the subject. We talk business models and industry comparisons, as well as looking at the key areas in which micromobility battles will be fought. For a detailed and horizon expanding conversation, be sure to tune in!   Key Points From This Episode: A definition of micromobility and how Horace started using the term. Some of the factors that have led to the growing adoption of these modes of transport. Who might win and lose as micromobility develops. Range anxiety and how distance plays into the question. Trip and distance data and what these can and cannot teach us. The important competitive dynamics and business models right now. The conditions that are necessary for more widespread adoption in the US. Evolving infrastructure around charging of electric vehicles. The role and place of manufacturing in the micromobility space. An overview of Horace’s current theses on micromobility. And much more!       Tweetables: “The way I talk about shared bikes and shared scooters is like the camera in your phone. It’s the best camera because it’s the one you always have with you. The best mode of transport is the one that’s easiest to access.” — @asymco [0:13:08.3] “You don’t measure demand for a bridge by counting how many people swim across the river. Once you’ve built a bridge, people cross it.” — @asymco [0:19:18.7]   Learn more about Horace’s work: Horace Dediu — http://www.asymco.com/author/asymco/ Horace on Twitter — https://twitter.com/asymco Micromobility — http://micromobility.io/

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