Cathie Wood of Ark Invest compared Tesla to Apple, predicted mass technological disruption, and detailed the main purpose of crypto in a new interview. Here are the 10 best quotes.

• Cathie Wood compared Tesla to Apple and pitched crypto as the missing layer of the internet.
• Ark Invest CEO criticized the regulatory backlash against Didi and other Chinese tech companies.
• Wood predicted that technologies such as blockchain and clean energy would transform industries.
• See more stories on the Insider business page.

Cathie Wood suggested that Tesla would follow Apple to capture the lion’s share of its industry’s profits, predicted new technologies would reshape entire industries, and explained what mainstream finance professionals don’t like about bitcoin and other cryptocurrencies, in a five-part RealVision interview this week. .

Ark Invest CEO also lamented the recent crackdown on Didi and other Chinese tech companies, argued that long-term tech investments can count more than profit margins today, and advised workers to change their minds. employment if their excellence is not recognized.

Here are Wood’s 10 best quotes from the interview, slightly edited and condensed for clarity:

1. “I feel like I was put on Earth to do this, that if I had retired at 57 instead of starting ARK, I wouldn’t be a happy woman. to be a vessel for something that was meant to be. “

2. “I loved being a woman in this business. I had amazing mentors who gave me opportunities for growth. What if a person – a woman or a man – delights their bosses but doesn’t even not the chance to get promotions even if the numbers speak loudly you have to move on. Just cut your losses and take your wits and ideas to another team. “

3. “We are on the verge of more change than ever. There is going to be huge disintermediation and disruption. We see the energy sector, financial services, any industry touching the internal combustion engine and its suppliers, everything that is really physical in terms of being the point of contact for the consumer, the point of sale – in danger.”

4. “There is huge inefficiency in research and investment in Tesla, so much so that our target price right now for our baseline scenario is around $ 3,000. People think that’s a crazy number. Right now, the stock is closer to $ 700. We believe the reason there is such great inefficiency in valuing Tesla is the short-term time horizon of analysts and the bad analysts who follow it. “- Wood suggested analysts are not grasping the full potential of Elon Musk’s clean energy company.

5. “Apple understood that a cell phone was really a computer long before Nokia, Ericsson and Motorola. It designed its own chip because Intel and Qualcomm went with volume drives, and Apple was nowhere, No? By designing his own chip, he still has the lion’s share of profits in the cell phone market. Even though his share has gone down, its value has gone up. We think that’s what will happen to Tesla.

6. “These are better performing cars. They delight the consumer. This is how Apple won. This is how Tesla will win.” – suggest that the quality and performance of Tesla’s cars will give it an edge over its rivals.

7. “These technologies took 15, 20, 25 years of gestation before they were ready for prime time. encouraged. That was hallelujah, the brave new world, rah-rah-rah-rah, everyone chasing each other and trying to fight each other, right? Today we are considered like such a strange duck. “- contrasting the skepticism of Ark’s investing style today with the widespread defense of technology before the dot-com crash.

8. “For us, execution doesn’t mean hitting operating margins down to the decimal point. In fact, we don’t care. At first we want them to spend. Our execution revolves around R&D – how much they spend, are they spending it in the right places or are they just throwing spaghetti against a wall. ” – pointing out that Ark cares more about companies’ technology investments than their profits today.

9. “The way China behaves, very defensively, is anathema to the rest of the world, and probably not to the delight of its own people. There is a bit of suffocation here. Anyone who dreams of becoming a unicorn with over a million users are going to have doubts, because the government is basically putting them under surveillance, you know? I don’t think you encourage entrepreneurship that way. ”- commenting on the recent crackdown by Chinese regulators on Didi and other national tech companies.

10. “People in the old traditional world of financial services, they don’t think of bitcoin and cryptocurrencies as the missing layer of the internet. The internet was never designed with commerce in mind. C is really what it is. “