On Day 1 of 10X Growth Con 2023, Grant Cardone sat down with finance LEGEND, Cathie Wood. And what did he ask the 40-year investment vet? GC wanted to know what she thought of the AI REVOLUTION and its effect on the market…
Cathie Wood’s track record speaks for itself. She founded ARK Invest — a $60 billion fund — and was an early advocate for Elon Musk’s Tesla.
Specifically, the ARK CEO has become a multimillionaire by taking risks.
Since Grant is a risk-taker himself he asked her…
[ABOUT WOOD’S TECH INVESTMENTS] HOW DO YOU DO DUE DILIGENCE AND MAKE A BET?
The answer Cathie Wood gave was surprising, to say the least…
AI to Become More Common
Cathie Wood’s secret to investing in uncertain ventures is that she is meticulous about her due diligence.
For that reason, her belief in the profitability of the AI revolution is based on statistics.
- AI costs are dropping 70% per year.
- Robotics is going down 50% annually.
- Battery prices have decreased by 28%.
Based on that, the stock-picker suggests that these technologies are going to become affordable. Then, the general public can become more interested in them.
From there, there will be growth and profits in the AI revolution.
Still, Mr. Cardone was curious…
What would happen to the human workforce?
Cathie Wood’s Final Thoughts on the AI Revolution
In short, Cathie Wood’s sentiment on the future of tech and unemployment is this:
INNOVATION SOLVES PROBLEMS.
The financial powerhouse cites examples like Uber, Airbnb, and GrubHub that only came after the tech boom. Wood also spoke hopefully on the future of medicine with new science.
In conclusion, Cathie Wood believes that only good things can come from the AI revolution. She spoke more on the revolutions of finance throughout her four-decade career in her full 10X Growth Con interview.
We all will have to wait and see what the future holds for AI, and see if Wood is right.
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