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Katie Wood criticized FTX and Elon Musk. Here are her top 9 quotes.

Katie Wood criticized FTX and Elon Musk.  Here are her top 9 quotes.

  • Kathy Wood spoke to Bloomberg on Tuesday as part of a wide-ranging conversation about crypto, FTX, Elon Musk and investing.
  • She compared Sam Bankman-Fried’s FTX to Bernie Madoff’s Ponzi scheme and shared her thoughts on Elon Musk, Twitter and Tesla.
  • Here are nine of Wood’s best interview quotes.

Veteran investor Kathy Wood is not shy about sharing her take on cryptocurrencies and investment strategies.

In an extensive interview with Bloomberg on Tuesday, the CEO of Ark Invest explained why she remains optimistic about Bitcoin and the underlying technology of cryptocurrencies, as well as the collapse of Sam Bankman-Fried’s FTX, Elon Musk’s acquisition of Twitter, and Ark’s optimism about Tesla. .

Here are 9 of Wood’s best quotes, lightly edited for length and clarity:

1. “A lot of people say, well, this is another Lehman, can we see a domino effect here? … Right now we have, it seems, $5-10 billion creditors from FTX, since FTX has filed for bankruptcy, they will be filing claims. If you look at Lehman, those were $1.2 trillion lawsuits… It’s a scam. This is Madoff. Madoff had $64 billion in lawsuits. Again, FTX is between 5 and 10 billion.”

2. “Yes, many people have lost a lot of money. The ecosystem of crypto assets loses value here. But if we are right about the underlying technology and the major roles that Bitcoin and Ethereum will play in this new world, I think we will bounce back pretty quickly.”

3. “I think it shocks me how many people were very close to [Sam Bankman-Fried]… the fact that so many people have been completely fooled is quite shocking. You know, I think there was some kind of aura around him or something that made people ask less questions than they might have otherwise. It’s very difficult to understand.”

4. “We really think that bitcoin – and you can see from the behavior of the infrastructure, it hasn’t missed a beat, a beat – it’s safer than it was yesterday, the day before yesterday, the day before yesterday. I have a feeling [FTX’s collapse is] is going to elevate bitcoin in the eyes of not only the crypto world, but the investment world as a whole.”

5. “We think bitcoin will come out of this smelling like a rose.”

6. “But if you look at this model in the long term, [Twitter] didn’t keep his promise. I think by opening the algorithm we think [Elon Musk] will do, and removing human-driven censorship and making the algorithms they put there transparent, allowing people to question them, I think would be very cool… I really like what he’s doing.”

7. “You remember that Elon started his entrepreneurial career with the predecessor of PayPal, so a very long time ago he had the idea of ​​a digital wallet, a super app like WhatsApp. We know that he knows a lot about this world, and I think that if someone in the US can do it, then he can. I think he will surround himself with the right business leaders. He’s not going to do it himself.”

8. “Think about the amount of data Twitter has, and think about the combination of that data and artificial intelligence. Remember [Musk] has experience and experts in the field of artificial intelligence… I think they will surprise and delight, aiming for a product in the form of super applications.”

9.”[Tesla is] capturing a disproportionate share of – and will continue to do so – a market that we estimate will account for between 85% and 95% of all cars sold globally by 2027.”

Written by khirou

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