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foreign public in 2012 and the the model 3 scaled in 2019 before that time from an electric vehicle perspective which is a big part of the story and um they've done very well there um we needed Elon his you know his determination not to do things like the traditional auto manufacturers did so so that first part of the story very important to prevent the bankruptcy everyone was sure that would happen this next stage which is autonomous this is the next big call here I think we're getting close to to full self-driving the software updates that we've enjoyed recently are making remarkable improvements and this is what we've learned from artificial intelligence projects AI projects that we thought were going to take 10 years to complete uh we're completing in one to two years now the advances in the speed of advancement in AI is unbelievable and in fact as we're trying to size all of the opportunities associated with these five platforms right now they are priced in the global Equity markets at roughly seven to eight trillion dollars so less than 10 percent of the global Equity market cap to if we're right and a plug for our big Ideas 2022 you can see the building blocks of this that seven to eight trillion is going to scale by 2030 to 210 trillion wow so that's up to a 30-fold increase and that number actually because of what's happening with AI is probably going higher we were just talking about this in a research meeting yesterday the seeds for what is happening today and the reason these growth trajectories are going to be so so explosive the seeds for all of this were planted in the 20 years that ended in the Tekken Telecom bubble back then too much Capital chasing too few opportunities too soon the Technologies weren't ready or they were way too costly right so here we are 20 25 plus years later we've been germinating these Technologies AI deep learning the big breakthrough in 2012 before that cloud computing 2006 with AWS so these Technologies did not exist back then so we've been germinating these Technologies and now we're ready for explosive growth what's so interesting from an investor point of view I just told you too much Capital chasing too few opportunities they were falling all over each other to make sure that their Tech ratings were higher than the next guys and the indexes right so they should have been pulling back right today they should be rushing in yeah and instead they're heading for the hills which means they're benchmarks and in the context of uh Southeastern I have described Benchmark style investing or at least the you know whole allegiance to it as you know worshiping an idol it's really becomes an idol in our industry and and it's a very bad Idol because the traditional World Order which it represents is what I've just mentioned we believe will be gone if not disrupted then destroyed well we think we are in the midst of an explosion in Innovation and we believe there are five major Innovation platforms evolving right now at the same time we've never had this before you have to go back to the early 1900s telephone electricity automobile today we have a genomic sequencing robotics energy storage artificial intelligence agents and blockchain technology and we believe they are going to converge actually so we don't have individual Technologies doing One S curve at a time we've got s-curves feeding s-curves just to give you a an example of that autonomous taxi platforms that's the convergence of three of those platforms robotics autonomous vehicles are robots energy storage they will be electric and artificial intelligence they'll be powered by AI now that industry or that particular platform accounts for basically zero Revenue today by the year 2030 we think it will be a 9 to 10 trillion dollar Revenue generating opportunity so what we usually say is get on the right side of change because these platforms and they involve 14 different Technologies they are all they're all all creating exponential growth trajectories they're going to be trans formative but they're going to be very disruptive to the traditional World Order Innovation is the great leveler you know the most seasoned experts are all new and experts in any particular topic historically are all new to these Innovation platforms so it really gives young people a wonderful opportunity to get on the right side of change and move up very quickly sure what I would do is make sure I do the research and I'll put a little plug in for ours since we give all of our research away it's on arc-invest.com and and there you will find how to get on the right side of change or at least where to go now and so I think what it will require longer term is a multi-disciplinary education yeah and uh and because because of these convergences so I would certainly think about that but in terms of the traditional world I would really take a hard look at how it's going to be disrupted and make sure that either you're an agent of change for your company in this new world and you're with a company who will or that will change as opposed to a company tried and true we've always done it this way our way or the highway right so just just make sure and you know again I always say make your boss look brilliant as the best strategy longer term and many younger people coming into the workforce now know so much more about technologists in their everyday lives than their bosses so I think it's actually going to be easier to make an impact as a young person today than it might have been 10 years ago because the Techno allergies are changing so quickly and and the younger people entering the world for Workforce today are more digitally native and everything's the digital and the physical are converging yeah we do our top-down research which is all about sizing the markets figuring out the unit economics then we have our bottom-up stock research driven uh uh uh thought processes and then we have an overlay which is all about Innovation it's a six metric scoring system the first is people management and culture uh I am maniacally following management changes over time seeing who's coming who's going and uh because it really makes a huge difference to a company so when we talk about uh management people and culture we're talking about a Visionary leader and in our world which is all the Techno logically enabled world it is a that leader typically has a different point of view about how the world is going to work out very different from the traditional point of view and Tesla is a great case in point we're known for our Tesla investing as as you mentioned and Elon Musk figured out that he could leverage the consumer electronics Industry to build an electric vehicle when auto manufacturers and autoanalysts were laughing at him saying oh yeah well look at those batteries are blowing up in Planes you're going to put that in a car well guess what he did it and still has a lead in batteries and he's also the only auto manufacturer to design an an artificial intelligence chip so he's taking a leap from Apple's book remember in the day the old cell phone days it was Nokia Ericsson Motorola Blackberry Maybe um where are they now they missed the plot they lost the plot why they did not design as Apple did a chip for smartphones you know a computer in your pocket they weren't thinking that way they were thinking more about fashion actually I remember it very well elon's doing the same thing but the most important thing a leader of a public company today has to do is um is stand up against short-term oriented investors and I would say public and private World stand up against them and say we need to invest aggressively now in order to capitalize to get there first because with artificial intelligence as the glue right in in much of innovation today the companies with the largest pools of data the best domain expertise in their own Industries the best AI expertise is probably going to win a winner take most Market it's going to be quite something you know autonomous driving the the the company that gets uh someone from point A to point B safely and and quickly is going to be the winner you know the safety is going to be Paramount and once uh the reputation starts building the the then the network will grow fairly uh rapidly so standing up against short-term oriented investors to invest aggressively against the vision and of course as a good leader I I you know in terms of Arc in founding it a good leader all always has to be willing this is a fine distinction because what I just told you to Pivot and in our case case it wasn't a pivot away from our core competency which was an exclusive focus on disruptive innovation and an open research ecosystem it was more uh the package in which we would deliver this would it be an ETF which is where we started and where we are doing very well right now but we were we were persona non grata when we first started because that was supposed to be a passive rapper too I understand so we did pivot to separately managed accounts in order to accommodate other kinds of clients so pivoting not strategically but tactically is also quite important foreign
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