In this episode of FYI – For Your Innovation, ARK's Director of Research Brett Winton sits down with Brad Feld — co-founder of Foundry, Techstars, and longtime venture capitalist — to unpack his latest thinking on startup communities, mentorship, and how founders can build better networks by giving first. After taking time away from public life to reflect, Brad returns with a new book, Give First: The Power of Mentorship, and a sharpened view on the distinction between transactional ecosystems and community ...

Hi everyone, my name is Lorenzo Valente. I'm the head of research uh of digital assets at Arc Invest. We have just published our latest blog on stable coins.uh with the circle IPO this week uh and the supply almost hitting 250 billion, we've published uh this research blog where we go over uh dollar dominance overseas uh why we think you know both tether circle and the broader digital uh the stable coin complex are going to be one of the biggest allies of the US government going forward. And we also talk ab ...

[Music] Greetings everyone. It is uh in the know day as well employment Friday uh and uh we have a lot to discuss as usual we'll we'll go through fiscal policy monetary policy economic indicators market indicators and uh we'll talk a little bit about uh some real breakthroughs in terms of uh the market recognizing how much innovation is taking place. Um so uh starting w with fiscal policy and I'll I'll go through and and just uh make a few observations before we flip to charts.So um on fiscal policy, well t ...

AI发展趋势 - AI发展迅速，远超预期 [1][3][41] - AI用户增长速度超过以往任何消费产品，但需区分有意使用和无意接触AI的用户 [8][9] - AI在图像和视频领域的应用日益普及 [18] - 中国在AI领域发展迅速，与美国积极竞争 [33] AI技术与应用 - AI性能日益逼真，能够模拟人类行为，图灵测试已不再适用 [14] - 反向图灵测试可能成为现实，AI可用于评估人类知识水平 [15][16] - AI可用于定制化评估，尤其是在教育领域 [18] - Gemini上的查询长度是Google搜索的两到三倍，表明用户对AI聊天机器人的使用方式不同 [23] AI成本与收益 - AI所需的能源成本大幅下降，自2014年以来，每个LLM token的能源需求降低了105,000倍 [28] - 尽管资本支出巨大，但AI的货币化方式正在发生变化，从前期投入大量资金进行训练，转变为训练加推理，更接近运营支出 [30][32] - 市场对AI产品的可接受价格正在上涨，例如每月200美元到2000美元 [32][33] 自动驾驶 - 特斯拉计划推出Robotaxi [34] - Waymo的自动驾驶服务即使在小范围内运营，其增长趋势也可能在未来12个月内超过Uber [34] - 自动驾驶的普及将取决于价格、可用性和用户体验 [36]

Valuation Analysis - Innovation-based strategies are trading at near record low valuations relative to their history [1] - Innovation strategies are selling at a very low premium to the S&P 500, as measured by enterprise value to adjusted EBITA [1] - The average valuation premium over ARK's life is roughly 90%, or 75% excluding the COVID distortion [2] Methodology - S&P 500 and various innovation strategies were adjusted for stock-based compensation and R&D [2]

But one point I would like to make is that all of these findings on brain algorithms are also going to enable next generation AI because AI right now as much as it is exciting has very severe limitations which is that it uses unbelievable amount of energy for tasks that are relatively easy for human beings. And so us as human beings the human brain is designed to have very good energy efficiency. I believe after like learning a lot about how the brain algorithm works, the brain's main design principle is en ...

Welcome to the Brainstorm episode 87. Nick, we're talking Apple losing its dominance. Is that is that what's happening.Is this finally the moment. Maybe. What happened.Well, one, we should we should say up front that we are a little bit late to this story. Um, but um here we are. This is the story's just starting. This is just we're two weeks late to the actual ruling.Um, but we'll we'll get right into it here. So, April 30th, um, there was an updated ruling to the Apple and Epic lawsuit. Um, where Epic a f ...

This is a very important slide. Um it illustrates the laugher curve. Uh when you cut taxes, if tax rates are too high, uh then you the revenue actually will increase.Why is that. Uh because companies and individuals stop using tax shelters and uh and stop trying to avoid taxes. So here you can see the history of the corporate tax rate and that is the black line there and you can see over time uh what has happened.This goes back to uh the early 1900s when uh we first put in place various income tax rates. Uh ...

In terms of the digital gold use case, I think we're already kind of like seeing Bitcoin exceeding expectations. When you see the launch of the ETFs last year compared to the gold ETF, you have some of this on big ideas. I think it took 12 months or basically a year for Bitcoin to acrew the same um AUM that took about 7 years for the gold ETF.Just to give you an idea of what um how Bitcoin is already like exceeding expectations relative to to gold when you look back at that ETF launch versus Bitcoin. ...

It's really interesting because in order to interact in order for the agent to interact with the world, you need two things. You need communication protocols between the agent and services. You want agent to order Door Dash, you need to you need to have Door D. You need to have them talk to Door Dash. You want it search the internet, you need to have them talk to the internet.If you want them to work with another agent, you need to have them talk to the other agent. That is accomplished by the internet and ...