Podcast Notes Playlist: Startup

I asked Cathie Wood the question no one else will

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My First Million


Key Takeaways 
  • Tesla as AI’s Largest Play: Tesla represents the world’s largest AI project, combining robotaxis ($8-10T opportunity, 50% platform capture) and humanoid robots ($26T opportunity in 7-15 years)
  • Embodied AI (physical + digital) is severely underappreciated by markets
  • Elon’s recent FSD breakthrough, solving “the last mile” problem, positions Tesla to dominate autonomous mobility
  • Wright’s Law Investment Framework: Cost per unit falls by a constant percentage with every cumulative doubling of production
    • This mathematical certainty drives exponential adoption in AI compute, EV batteries, robotics, and DNA sequencing
    • EVs have unlimited doublings ahead; internal combustion engines have none—making legacy automotive “no shot” to compete long-term
  • Portfolio Management Beyond Headlines: Selling Nvidia from early entry at $0.20 per share was not necessarily a mistake if proceeds were used to buy another stock that 10x’d in price 
    • Opportunity cost matters more than hindsight narratives
    • ARK trades volatility thresholds around conviction holdings without thesis changes
  • Bull Market Discipline and Rebalancing: Top-performing stocks go crazy in bull runs; this requires active diversification and profit-taking 
    • End-point sensitivity in performance criticism ignores the fund timeframe
    • Her future strategy: aggressive rebalancing guidance to counter fear/greed cycles inherent to retail investor behavior


    • Read the full notes @ podcastnotes.org



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    Episode 760: Shaan Puri ( ⁠https://x.com/ShaanVP⁠ ) talks to Cathie Wood ( https://x.com/CathieDWood )  about her fund’s performance, her biggest bets on AI, and the most misunderstood stock on earth. 

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    Show Notes:

    (0:00) McDonald’s to Managing Billions

    (8:54) A day in the life of Cathie Wood

    (17:29) ARK’s Performance Review

    (30:00) Cathie’s #1 stock pick

    —

    Links:

    • ARK - https://www.ark-funds.com/ 

    • The MFM Newsletter Challenge - https://www.beehiiv.com/application/mfm

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    Check Out Shaan's Stuff:

    • Shaan's weekly email - https://www.shaanpuri.com 

    • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents.

    • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies!

    Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC

    —

    Check Out Sam's Stuff:

    • Hampton - https://www.joinhampton.com/

    • Ideation Bootcamp - https://www.ideationbootcamp.co/

    • Copy That - https://copythat.com

    • Hampton Wealth Survey - https://joinhampton.com/wealth

    • Sam’s List - http://samslist.co/

    My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

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