Cathie Wood, founder of Ark Investment Management, has thrown her support behind the growth prospects of China’s tech disrupters, despite recent headwinds that have wiped months of gains from tech shares.
Wood, who has risen to investment stardom over the past year by earning huge profits from heavy bets on Tesla and other fast-growing US tech giants, spoke to the audience of an online webinar in March, alongside Li Yimei, Beijing-based chief executive of China Asset Management.
She highlighted the rise of “disruptive innovation platforms” in China rather than individual companies, which she believes to be the more fundamental forces for exponential growth, including DNA sequencing, robotics, energy storage, artificial intelligence and blockchain. “The US has had a huge lead in a lot of innovation over the years. But now countries are competing with us,” she said.