ARK投资公司2023年度报告2023年大创意.pdf

BIG IDEAS 2023January 31,2023www.ark-ARK Investment Management LLCTECHNOLOGICALCONVERGENCEROBOTICS AND3D PRINTINGARTIFICIAL INTELLIGENCEDIGITAL CONSUMERSDIGITALWALLETS PUBLICBLOCKCHAINSSMART CONTRACTNETWORKS PRECISION THERAPIES MOLECULAR DIAGNOSTICS ELECTRICVEHICLES ORBITAL AEROSPACEAUTONOMOUS LOGISTICS AUTONOMOUS RIDE-HAIL For Informational Purposes OnlyARK Investment Management LLC.This is not a recommendation in relation to any named particular securities/cryptocurrencies and no warranty or guarantee is provided.Any references to particular securities/cryptocurrencies are for illustrative purposes only.There is no assurance that the Adviser will make any investments with the same or similar characteristics as any investment presented.The reader should not assume that an investment identified was or will be profitable.PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE PERFORMANCE,FUTURE RETURNS ARE NOT GUARANTEED.BITCOINRisks of Investing in InnovationPlease note:Companies that ARK believes are capitalizing on disruptive innovation and developing technologies to displace older technologies or create new markets may not in fact do so.ARK aims to educate investors and seeks to size the potential investment opportunity,noting that risks and uncertainties may impact our projections and research models.Investors should use the content presented for informational purposes only,and be aware of market risk,disruptive innovation risk,regulatory risk,and risks related to certain innovation areas.Please read risk disclosure carefully.2DISRUPTIVE INNOVATIONRAPID PACE OF CHANGEUNCERTAINTY AND UNKNOWNS EXPOSURE ACROSS SECTORS AND MARKET CAPRISK OF INVESTING IN INNOVATIONREGULATORY HURDLESCOMPETITIVE LANDSCAPEPOLITICAL OR LEGAL PRESSURESources:ARK Investment Management LLC,2023.Aim to understand the regulatory,market,sector,and company risks.(See Disclosure Page)Aim for a cross-sector understanding of technologyand combine top-down and bottom-up research.BIG IDEAS 2023:DISCLOSUREBig Ideas 2023Innovation Is Taking OffARK aims to deliver long-term capital appreciation by investing in the leaders,enablers,and beneficiaries of disruptive innovation.We believe every investor should have a strategic allocation to innovation,not only to access potential exponential growth opportunities typically absent from broad-based indices,but also to hedge against the increasing risk that incumbents will be disrupted.To enlighten investors on the long-term impact of innovation,we began publishing Big Ideas in 2017.This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.We believe that innovation is taking off now,corroborating our original research and boosting our confidence that ARKs strategies are on the right side of change.We hope you enjoy Big Ideas 2023!3BIG IDEAS 2023:INTRODUCTIONTechnological ConvergenceArtificial IntelligenceDigital ConsumersDigital WalletsPublic BlockchainsBitcoinSmart Contract NetworksPrecision TherapiesMolecular Cancer DiagnosticsElectric VehiclesAutonomous Ride-HailAutonomous LogisticsRobotics and 3D PrintingOrbital Aerospace203041485566058696106115126136754BIG IDEAS 2023:TABLE OF CONTENTSTechnological ConvergenceCreating The Potential For Super-Exponential GrowthResearch by Brett Winton,Chief Futurist&ARK Venture Investment Committee MemberAccording to ARKs research,five innovation platforms are converging to create unprecedented growth trajectories.Artificial Intelligence is the most important catalyst,its velocity cascading through all other technologies.The market value of disruptive innovation platforms could scale 40%at an annual rate during this business cycle,from$13 trillion today to$200 trillion by 2030.In 2030,the market value associated with disruptive innovation could account for the majority of the global equity market capitalization.Sources:ARK Investment Management LLC,2023.As of year end 2022.Numbers are rounded.ARK estimates that$13.4 trillion of market value is attributable to the disruptive technologies it covers today.By 2030 ARK estimates that market value attributable to these technologies will exceed$206 trillion.Market value includes public companies,private companies,cryptocurrencies and smart contract protocols.Forecasts are inherently limited and cannot be relied upon.For informational purposes only and should not be considered investment advice or a recommendation to buy,sell,or hold any particular security or cryptocurrency.Past performance is not indicative of future results.BIG IDEAS 20235Five Converging Innovation Platforms Define This Technological EraNode size:Log prospective 2030 Market ValueSources:ARK Investment Management LLC,2023.Forecasts are inherently limited and cannot be relied upon.For informational purposes only and should not be considered investment advice or a recommendation to buy,sell,or hold any particular security or cryptocurrency.Past performance is not indi