- Cathie Wood, the investment manager who became famous with her Ark fund's huge returns in the lockdown years, speaks to the IC
- From punchy positions to bold calls on the bitcoin price, what should investors make of her approach?
Taxi drivers giving share tips may well be the sign of a market bubble, but it's rare for things to work the other way around. In a bizarre twist, Cathie Wood, the Ark Invest chief executive and face of the Ark Innovation ETF (ARCK) tells Investors' Chronicle she often urges Uber drivers to embrace the artificial intelligence (AI) revolution by effectively outsourcing their jobs to a fleet of Tesla (US:TSLA) cars.
"When I'm in an Uber car I often say to drivers, 'you know, your job is going away and here's a good idea for you, you and all of your Uber friends or other friends should buy as many Teslas right now as you can. You will be able to leverage off Tesla's platform as it launches its autonomous taxi network and put your fleet, however many cars you buy, to send them out and do the work for you'," she says. Wood argues that such vehicles would be "cash cows" and help drivers to pay down any loans on such cars in a relatively short time.