Hi, my name is Ren Lei and I'm the global head of strategic partnerships. I'm responsible for managing and expanding our strategic relationships with distribution partners uh and exploring new partnerships in untapped markets around the world. My goal is to enable all investors globally from institutional allocators like pension funds or sovereign wealth funds to financial advisors all the way down to individual retail investors the ability to invest in ARC's disruptive innovation focused strategies.I came ...

I always learn from SpaceX. So the company that I deeply admire and of course you know I have Elon's picture everywhere when I whenever I think that I'm working too hard I'm looking at this picture and I realize that I'm slacking. Look at how they're building rockets.So you have the Falcon series that works extremely well. So you get the payload to the to the to to the to to to orbit and beyond and it works but at the same time you are working on Starship right and you are working on next generation Starshi ...

Labor Market Trends - The Wall Street Journal published an article highlighting the difficulty college graduates face in securing employment [1] - AI is negatively impacting entry-level job opportunities [1] - The unemployment rate has increased from a recent low of 4% to over 6%, specifically 63% or 64% [1] - The labor differential indicates it is becoming more challenging to find employment [2] - Continuing unemployment claims are rising, suggesting that individuals who are already unemployed are struggling to find new jobs [2] Job Seeker Strategies - Individuals considering a job change or seeking employment should prioritize focusing on AI-related skills [2]

Company Overview - ARC's director of research is Sam Cororus, leading the autonomous technology and robotics team [1] - Sam Cororus joined ARC in 2015 after graduating from Penn [1] - ARC was a relatively new company, only one year old, when Sam joined [1] Employee Perspective - The individual sought a small company with a steep learning curve and significant impact [2] - The individual wanted to avoid being a "cog in the machine" [2] - ARC aligned with the individual's career aspirations, leading to long-term employment and job satisfaction [2]

Bitcoin ETF & Institutional Investment - Bitcoin 现货 ETF 在美国成功推出，成为历史上最成功的 ETF 发行[1] - 截至 2025 年 6 月 26 日，Bitcoin 现货 ETF 的资产管理规模（AUM）增加了 277 亿[2] - 机构投资是推动 Bitcoin 价格目标的主要因素之一[10] Bitcoin Volatility & Market Performance - Bitcoin 的波动率创下历史新低，约为 42%（按年度滚动计算），目前约为 50%[3][4] - 尽管市场存在波动，但相对于 2011 年和 2012 年高达 200% 的年度波动率，目前的 50% 表明 Bitcoin 的成熟度和机构化程度有所提高[4][5] - 今年以来，Bitcoin 相对于标准普尔 500 指数上涨了约 10%[9] Corporate Treasury & Bitcoin Adoption - 截至 2025 年，持有 Bitcoin 的上市公司数量从 2024 年 12 月 31 日的 74 家增加到 141 家，持有量从 500 亿增加到 900 亿，公司数量几乎翻了一番，持有量增加了 63%[15] - 企业将 Bitcoin 纳入其商业模式的核心组成部分，而不仅仅是投资组合中的一项资产[13][14] Future Growth & Regulatory Landscape - Bitcoin 的链上金融服务（Bitcoin layers）预计将成为 Bitcoin 的重要需求来源，从而在未来几年内建立一个非常强大的金融层[18][19] - The Genius Act 澄清了关于 Bitcoin 以及其他加密资产的监管规定，区分了证券类加密货币和商品类资产（如 Bitcoin）[21]

Government Spending & Taxation - Government spending is viewed as taxation [1] - Lowering employment and evolving a different mindset inside the government are happening [1] Economic Growth & Deficit - Getting growth going is the key to lowering the deficit [2]

What would be the biggest catalyst for Bitcoin adoption by individuals. The way I kind of like to think about this is a lot of people would say something like Bitcoin becoming legal tender in the US or hyper bitcoinization. But the biggest driver in my opinion would be something of a financial crisis or something that forces people to look for assets outside the fiat system.If you think of the origin of Bitcoin in the Genesis block, Satoshi embedded a message that was referencing an article from the Times a ...

Company Focus - ARC focuses on five innovation platforms and models technologies across them [1] - The company identifies, understands, and models the ramifications of disruptive technology on business [4] Technological Disruption - Disruptive technology's impact on business is accelerating [2] - The smartphone revolution occurred rapidly, potentially reaching its end [3] - AI-enabled hardware devices from companies like OpenAI could diminish the economic importance of smartphones [4]

Economic Outlook - The analysis suggests the economy has been experiencing a rolling recession for the past three years, with softening indicators particularly in the consumer and housing sectors [1] - The report anticipates a transition from a rolling recession to a rolling recovery, expected to gain momentum from the end of the current year into the next, driven by productivity gains and real GDP growth [1] - Productivity is expected to be a significant surprise and a potent anti-inflationary force, potentially leading to lower-than-expected inflation due to deflationary pressures from new technologies, especially AI [1] Fiscal Policy - The expectation is that tax rates will remain stable, which is considered a crucial factor [1] - While government spending and deficits are acknowledged as concerns, the analysis suggests that spurring growth through innovation is key to lowering the deficit [1] - The corporate tax rate could effectively decrease to the 14-15% range due to full expensing of capital equipment, potentially attracting increased foreign direct investment [2] Monetary Policy - Although M2 money supply growth has accelerated to approximately 45%, it is still considered low historically [1] - There are signs that monetary policy might be too tight, as indicated by the inverted yield curve, specifically the 90-day T-bill rate versus the 2-year yield [1][2] - Recent economic data, such as CPI, PPI, and PCE deflator, indicate that tariff increases have had minimal impact on the overall pricing structure of the economy [1] Employment and Labor Market - The employment report is viewed as weak upon deeper analysis, with government employment accounting for a significant portion of the non-farm payroll increase [2] - Average hourly earnings are up 37% year-over-year, but with expected productivity increases, underlying inflation related to labor could fall below 2% [2] - There are indications of stress in the labor market, with rising continuing unemployment claims and difficulties for college graduates in finding jobs, potentially due to AI impacting entry-level positions [3] Housing Market - The housing market is described as weak, with new and existing home sales at low levels by historical standards [3] - New home prices have been slipping for a couple of years, and existing home prices are also starting to decline [5] - A recent directive allows cryptocurrency to be considered in mortgage qualifications, potentially opening up the housing market to younger buyers [4]

Robinhood's Crypto Initiatives - Robinhood is aggressively expanding its presence in the crypto market [1] - The company is exploring tokenizing US stocks [1] - Robinhood is introducing innovative crypto features such as staking and perpetual futures [1] Competitive Landscape - Robinhood is leveraging product velocity to gain an edge over competitors [1] - The analysis includes a comparison between Robinhood and Coinbase [1] Future of Investing - The discussion revolves around the implications of Robinhood's moves for the broader financial services landscape [1] - The report considers what these developments mean for the future of investing [1] - Robinhood now offers 24/7 stock trading [1]