There are many speculations about the future of artificial intelligence (AI), and in this episode, we hear the opinions and predictions of a player in the inner folds of the AI space. Naveen Rao is the CEO and Co-Founder of the machine learning (ML) training platform, MosaicML, and the former CEO and Co-Founder of Nervana Systems. Naveen shares insight into the thesis behind Mosaic and the practical applications of Large Language Models (LLMs), as well as the Generative Pre-trained Transformer-2 (GPT-2) to GPT-3 transition and the challenge of training models with the constraint of data limits. He predicts the evolution of AI models in terms of quantity, size, and function, and the future of computers in general. If you’re curious as to whether it makes sense to build smaller models or own your own model, this episode is for you. Tune in to hear Naveen’s opinions on the impact of AI on the economy, the danger of centralizing resources, what constitutes sentience, and much more. “What we’re doing at Mosaic is building tools to enable more people to have access to these technologies. When it’s all centralized in one or two or three players, that creates a huge power dynamic.” — @NaveenGRao Key Points From This Episode: Naveen Rao’s educational background and interest in synthetic intelligence. What led him to start his first AI company, Nervana Systems. The thesis behind MosaicML. What MosaicML offers customers. What Naveen considers to be 2022’s most exciting breakthrough in AI. The innovation of ChatGPT. The GPT-2 to GPT-3 transition. The challenge of training models with the constraint of data limits. Naveen explains the concept of synthetic data. He predicts the evolution of AI models in terms of quantity, size, and function. Why it makes sense to build smaller models and own your own model where possible. Data as a moat component. Practical applications of LLMs. Naveen’s opinion on whether AI will disrupt the economy or increase Gross Domestic Product (GDP). The danger of the centralization of resources. How MosaicML is making trading more efficient given the limits AI is facing. The efficiency improvements MosaicML customers are seeking out. Naveen’s prediction for the rate of cost decline. The history of the computer password. The future of computers. The question of what constitutes sentience. Naveen recounts the acquisition process of selling Nervana Systems to Intel. How the innovator’s dilemma will play out among competitors in the AI space. Naveen’s advice for his past self.

It is officially the golden age of TV: no matter how and what you want to watch, there is a platform for you to find it. Nick Grous, Associate Portfolio Manager at ARK, is here to comment on the ongoing wars between Netflix, Disney +, Hulu, Amazon Prime, and other streaming platforms. It seems it is back to the basics for many of these platforms: a change in their digital approaches highlights adaptations in the advertising world. Nick looks at Netflix, the poster child subscription-based platform, and its struggle with users sharing passwords, and, how advertising may be used to mitigate losses. Nick explores the impacts of the pandemic, how the streaming platforms individually deal with competition, global advertising opportunities, advertising proficiencies, and so much more! Plus, you will hear why Nick thinks that Connected TV (CTV) could be the way of the future! “In terms of competition, Netflix doesn’t just compete against HBO Max or YouTube, they compete against all leisure activity.” — @GrousARK Key Points From This Episode: The subscription-based format of Netflix. When the “streaming wars” began. How Netflix managed continuous growth, despite speculation and doubts. How streaming platforms are managing the ‘COVID hangover’. Ad-supported video-on-demand (AVOD) versus subscription video-on-demand (SVOD). Why Nick thinks Netflix will start AVOD. How consumers approach and react to the advertising in their streaming services. Advertiser’s approach to changes in the market. The over-the-top (OTT) and Connected TV (CTV) advertising landscape. Nick discusses Roku TV: a streaming media player. Short-term turbulence versus long-term struggles in the streaming sphere. The impact of the 2008 and 2009 recessions on advertising platforms. Why cable and broadcasting are being left in the past. Nick’s five-year predictions. Nick’s show recommendations and his opinions on streaming pricing.

On this episode of the For Your Innovation podcast, we feature a special year-end episode of “In the Know” with ARK CEO/CIO, Cathie Wood. In the episode she answers investor questions ranging in topics including general market conditions, inflation, deflation, corporate earnings, interest rates, disruptive innovation, ARK’s investment process, supply-chain, and the outlook for 2023. As always, she discusses fiscal policy, monetary policy, market signals, economic indicators, and innovation. Specific questions Cathie addresses during the episode: Please share your thoughts on the 2022 market. What is your market outlook for 2023 including the impact of innovation? Given ARK’s strategies have fallen >70% from their peak in February 2021, why don’t you turn defensive as most managers would do? You have been buying more Tesla and other stocks during the downturn. However, the stocks that you have increased your purchases have fallen further, and the overall decline in performance has accelerated. With interest rates and prices fluctuating so widely, will an investment focus on innovation work? Investors appear hesitant to invest now for long-term growth, given the supply chain disruptions and the expected economic downturn due to rising interest rates. Why do you believe that now is a once-in-a-century investment opportunity? To watch the video version of In The Know, click here.

As the year comes to an end, we would like to thank everyone who listened to the FYI — For Your Innovation podcast. In this final episode of 2022, we compiled some of our most interesting podcast episodes for you. Please enjoy this summary and tune back in when we return in 2023. 1. Space, Business, and the Business of Space with Jared Isaacman from Shift4 Payments (Ep. 127) Chief Futurist Brett Winton and Autonomous and Robotics Director of Research Sam Korus interview Shift4 Payments CEO and Chairman Jared Isaacman. Brett, Sam and Jared discussed the Polaris Dawn mission, Jared’s passion for spaceflight to further human space exploration, and some of the tangible philosophies that he took from SpaceX. (Listen to the full episode) 2. The Future of Web3 Games and Digital Ownership with Polygon Studios CEO Ryan Wyatt (Ep. 146) Next Generation Internet Director of Research Frank Downing and Associate Portfolio Manager Nick Grous sit down with Polygon Studios CEO Ryan Wyatt to unpack The Future of Web3 Games and Digital Ownership. Ryan also comments more generally on the buy-in to decentralization, interoperability concerns, and his perspective on the realities of the metaverse. (Listen to the full episode) 3. Personalizing Private Wealth with Titan CEOs Joe Percoco and Clay Gardner (Ep. 151) Analysts Max Friedrich and William Summerlin talk to Titan co-Founders and co-CEOs Joe Percoco and Clay Gardner about their mission to personalize private wealth. In that episode, you’ll hear how Joe and Clay met and founded their online investment platform, their mission and vision, how they remove the ‘middleman’ in hedge-fund-like investing and more. (Listen to the full episode) 4. Breaking Down Biotech Innovations with Dr. Bob Langer (Ep. 156) Analyst Ali Urman and ARK advisor Dr. Charlie Roberts are joined by MIT professor, chemical engineer, scientist, inventor, and investor Dr. Bob Langer. Dr. Langer has over 1,400 granted or pending patents, has been cited 374,000 times and counting, and was a co-founder of Moderna. In the episode, Ali, Dr. Langer and Dr. Roberts discuss emerging biotechnologies, the potential of artificial intelligence (AI) in healthcare and potential time-to-market accelerators for new therapies and vaccines. (Listen to the full episode) 5. Innovation is the Ultimate Leveler with Steve Case (Ep. 164) Steve is one of America’s most renowned entrepreneurs as a co-founder of America Online (AOL). Currently, Steve serves as chairman and CEO of Revolution LLC, which focuses on investing in the next generation of founders, especially in the 47 states outside of California, New York and Massachusetts. In the episode, Steve and our CEO Cathie Wood discuss why he thinks entrepreneurs are vital, the value of research toward innovation, why Steve thinks you should be optimistic for the future of America. (Listen to the full episode) “Check out the FYI – For Your Innovation Podcast ‘Best of 2022’. Because investing in innovation starts with understanding it. #FYIpodcast”

We are pleased to introduce the ARK Crypto Brainstorm; a quarterly conversation between a rotating group of experts in the crypto space, The ARK Crypto Brainstorm will be published through the For Your Innovation podcast channels and aims to be an informative and in-depth conversation on the current state of the ever-changing crypto landscape with experts offering diverse viewpoints. In the first episode of the ARK Crypto Brainstorm, ARK Cryptocurrency Analyst Yassine Elmandjra and Chief Futurist Brett Winton hosted five leaders in the crypto space including: Alex Gladstein CSO, Human Rights Foundation Alex Gladstein is Chief Strategy Officer at the Human Rights Foundation. He has also served as Vice President of Strategy for the Oslo Freedom Forum since its inception in 2009. In his work, Alex has connected hundreds of dissidents and civil society groups with business leaders, technologists, journalists, philanthropists, policymakers, and artists to promote free and open societies. Chris Burniske Partner, Placeholder Chris Burniske is the Partner at Placeholder VC, a venture capital firm that invests in decentralized networks and web3 services. Chris is also the author of Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond, and he formerly led Crypto research at ARK. Dhruv Bansal Co-Founder and CSO, Unchained Capital Dhruv Bansal is the Co-Founder and CSO at Unchained Capital, a bitcoin native financial services company offering collaborative custody multisignature vaults and loans for bitcoin holders. Prior to Unchained Capital, Dhruv was the co-Founder and CSO at Infochimps, a cloud service that streamlines building and managing complex big data environments and distills analytics. Eric Wall Crypto Blogger Eric Wall is a Stockholm-based software engineer and cryptocurrency trader. He works at a financial IT infrastructure provider as a blockchain and cryptocurrency domain expert and holds a M.Sc.Eng. in Information and Communication Engineering Technologies from the Faculty of Engineering (LTH), Lund University, where he specialized in blockchain technology. Nic Carter Founding Partner, Castle Island Ventures Nic Carter is a founding partner at Castle Island Ventures, a venture capital firm focused exclusively on public blockchains. Before founding Castle Island, Nic worked for Fidelity as their first cryptoasset analyst, where he devised research perspectives on public blockchains. He is the cofounder of Coin Metrics. He holds a degree in philosophy from the University of St Andrews and an MSc Finance and Investment from the University of Edinburgh. Key Points From This Episode: Potential sources for additional fallout in the cryptocurrency market Why might Binance’s auditor have quit Binance’s current situation generally, and what might the company’s future look like Game theory on calling out crypto scams What the future could be for Tether How US Treasury assets could be instrumentalized Would a potential collapse of Tether be positive for Bitcoin? How crypto regulation plays a role in the long-term How Fidelity can impact Bitcoin What the future might hold for the decentralized finance (DeFi) industry Bitcoin’s relative strength among a variety of other crypto crashes The prospects for Bitcoin’s price movement in the near term General thoughts on the collapse of FTX Is Solana dead or can it come back into favor? How the NFT ecosystem compares to the rest of the Ethereum ecosystem What are some optimistic viewpoints in crypto despite considerable recent volatility How government policy and regulation could shape the crypto market

He is one of America’s most renowned and accomplished entrepreneurs and helped make the internet what it is today. Steve Case’s entrepreneurial journey began in 1985 when he co-founded America Online (AOL), the largest internet-access subscription service company in the United States. He stepped down as CEO of AOL in 2000 after negotiating the largest merger in business history. He has an immense passion and appreciation for business, helping start several companies since leaving AOL. Steve has also helped shape government policy regarding issues relating to entrepreneurship and supports legislation that catalyzes startup ecosystems. One of his exploits is Revolution, where he serves as the Chairman and CEO. Revolution is a company focused on investing in the next generation of founders and helping startups grow. In our conversation, we talk broadly about innovation in America, his book Rise of the Rest, and the power of government policy. Learn about his professional background and journey at AOL, his achievements after leaving AOL, and why innovation is fundamental for the future of America. We also unpack the current thinking around government policy concerning crypto and tech, how he thinks the government will handle it, and what policy reforms to expect in the future. Hear about his company Revolution and how the company is helping drive and support entrepreneurial spirit in the country. We also discuss why he thinks entrepreneurs are vital, the value of research toward innovation, why Steve thinks you should be optimistic for the future of America, and much more. “Following the money is one way to make investments, but following the talent is probably the better way in the venture capital world.” — @SteveCase Key Points From This Episode: A brief background about Steve’s professional career journey at AOL. Whether the market bust of 2020 was caused by the collapse of tech stocks. Find out why the business model of AOL was daring in the early days. How Steve got involved in helping shape government tech policies. His opinion regarding government policy in the tech sector. Whether government policy will encourage innovation within tech and crypto. Learn how innovation can be the greatest leveler of opportunity and success. We discuss Revolution and his motivation for starting the company. Discover details about his book and the insight it provides readers. Steve outlines some of the companies in the Revolution growth portfolio. We unpack the shift toward passive investing that has occurred in recent years. Steve shares what he thinks will be the long-term trend in investment of capital. We discuss and compare private and public markets. Reasons for the brain drain and the concentration of capital in a handful of cities. The innovation that is happening around the country and why this is good. Learn about an interesting new application to help you invest properly. Where the biggest inefficiencies are concerning the various stages of venture capital. Differences in terms of companies needing assistance concerning fixed assets. Hear why you should be positive for the future of business in America.

From The Great Depression and the two World Wars to now COVID and the escalation of the War in Ukraine, the world has had its fair share of economic downturns. However, the way we recover from it seems different now than it was in the early 1900s. Here with us today to discuss the differences and similarities of past, present, and future recessions is Wharton Professor and esteemed economist, Jeremy Siegel. Jeremy shares his thoughts on the Monitor hypothesis, the potential severity of a recession, and how current technological advancements make an increase in productivity highly likely. We learn what the Federal Reserve could be doing better amidst the negative money growth we are currently experiencing before Jeremy gives us his take on digital currencies and why crypto may be a three-part revolution. “I do think, as I look back, because of my studies with Milton Friedman, that the principal cause of the Great Depression was the failure of the Fed to prevent the total collapse of the banking system.” — Professor Jeremy Siegel Key Points From This Episode: Welcoming today’s guest, Wharton Professor and decorated economist, Jeremy Siegel. A look at Jeremy’s professional background. Jeremy’s thoughts on the Monitor hypothesis. What Jeremey thinks the severity of the an upcoming recession could be. How too much labor and inventory could compound a recession. Why innovation and automation may lead to a big increase in productivity in the near future. How Jeremy thinks today’s economic climate compares to the Smoot-Hawley act and others. Whether inflation can drop below zero, mimicking post-disaster periods of old. What the Federal Reserve could do to bring back money growth. A closer look at the negative money growth America is currently experiencing. Why Jeremy believes it’s no longer necessary to squeeze the economy to death to regain parity. Why increasing productivity should be our top priority. Whether a productivity rise is inevitable due to ever-changing technological advancements. Jeremy’s take on digital currencies. Cryptocurrency as a possible three-part revolution.

Programming has transitioned from machine code to punch cards, from assembly to high-level languages, and from C to dynamic languages, then to Python. Now, we are heading into the next frontier with artificial intelligence (AI) technology, and today’s guest, Amjad Masad, is one of the leaders designing the future of software engineering. During this episode, Amjad explains how the challenges he came up against during his early days as a programmer inspired him to make programming more accessible and how he is turning that dream into a reality through his privately-held company, Replit. Among other things, you’ll hear why Replit might appeal to both novice and highly experienced programmers, their “code as data” approach, the exponential growth that the company has experienced since its founding in 2016, and why Amjad believes that in the coming years, a single software developer might have the same productivity level as a 100 software developers today! “Our mission is to power the next generation of software development and rebuild something that is collaborative by default, instance ubiquitous and AI-powered.” — @amasad Key Points From This Episode: Amjad Masad, the co-founder and CEO of Replit, shares what the company does and the vision that drives them. The problem with the programming world that inspired Amjad to found Replit. What the Replit prototype was like in its infancy. Amjad’s breakthrough that went viral. The early years of Amjad’s career. How Replit has grown since its founding in 2016. Value that Replit aims to provide to beginner and senior programmers. Where the idea of using code as data originated. How Replit acquired its name. Impacts of the Transformer revolution. How Transformers are programmed. Amjad explains what his Ghostwriter program does. Valuable lessons Amjad learned from The Mythical Man-Month. Software engineering’s latest “silver bullet.” What Amjad sees as the role of software engineers in the future. A high-level overview of the history of programming and the developments that Amjad expects to see in the coming years. Factors that might make Replit stand out from its competitors. What Amjad wishes he knew from day one of building Replit.

MyWallSt is built on a simple mission: to get the world investing successfully. During today’s discussion, co-founder Emmet Savage shares a wealth of insights from his investment journey, which began in the early 90s. Listeners will become privy to six golden rules Emmet has learned the hard way during his career, plenty of which can be applied far beyond financial decision-making. Hear the origin story of his app, Learn by MyWallSt, and how it has begun to make a meaningful impact on people’s lives. Hear about how Emmet has built the algorithm behind Horizon, another product by MyWallSt, and find out how he summarizes his long-term vision for the business. We discuss what you can learn from stock investing which extends beyond what you may expect, and Emmet weighs in on the role of AI and Robo-Adviser in changing the landscape today. Tune in to hear all this and much more. “We’re motivated by a simple mission: to get the world investing successfully.” — @emmetsavage Key Points From This Episode: Welcome to Emmet Savage, co-founder of MyWallSt. Emmet’s history with investing in Irish and US markets. MyWallSt’s origins and their opportunity to disrupt stock market education and investing. John and Emmet’s simple mission at MyWallSt: to get the world investing successfully. Emmet’s first experiences of investing during the .com boom. The first share Emmet invested in with his father was in the early 90s. How ‘nothing beats free’ has become a rough rule of the internet. Six golden rules Emmet learned the hard way when the .com bubble burst. The conjoined rules of thinking long-term and not borrowing. Why diversification is critical to success. Buying what you believe in for your best success. What it means to “invest what you can, when you can.” Two reasons people choose not to invest. The origin story behind the app, Learn by MyWallSt. How Learn by MyWallSt was built with the rewards of short bursts of learning in mind. The story of Michelle, who upskilled herself on the bus, leading to investment success. What MyWallSt’s $1000 a year service, Horizon, works to do. The long-term vision behind Emmet’s work at MyWallSt. Similarities between the bursting of the .com bubble and the current climate. Understanding that a part of your brain lights up when you bet on something. The double-edged sword of human temperament. What you can learn from stock investing beyond the obvious. Emmet’s advice to keep your nerve when everyone else is panicking. Why the customization of messaging is so important: we remember feelings. The fact that AI and Robo-Adviser may overtake us eventually. What happens the moment a magic formula is released.

Today’s guest Chip Walter is a Navy veteran and Managing Director of Marlinspike Partners, a company working to solve the technological needs in space, cybersecurity, and artificial intelligence (AI) through investment. Tune in to hear about Chip’s background in the Navy, how he ended up at Marlinspike, and his experience flying a P-3 plane. We discuss the roles of the Prime contractors in defense and intelligence, the process of trying to sell weapons to the Department of Defense, and a common mistake startups should to avoid. The timeline of the growth of space technology is increasing at a rapid rate. In this episode, Chip tells us why he feels the USA needs to match the presence of other dominant countries in space in order to defend itself before he explains how cyber fits into war-fighting as the fifth domain. “The big players in the in the defense industrial base [need to] play with the smaller players and be responsible [for] bringing them along and allowing them to use their innovative cycle” — Chip Walter Key Points From This Episode: A brief introduction of today’s guest, Chip Walter, and all about his background. What Chip thinks the US needs to do to improve defense and intelligence and maintain its position. What it’s like to try to sell to the Department of Defense or the intelligence community. What small companies in this industry should be aiming for. Why startups should be careful of trying to do too much. What Chip sees happening in space in terms of defense and investment at Marlinspike. Why presence in space is essential to achieve military dominance. Why cyber is the fifth domain of war-fighting. How AI fits into war-fighting. Chip tells us about his days flying the P-3 plane.