Thread by @jwangARK

ARK's Big Ideas 2020 deck is here—a year of research packed into 80 slides covering AI, robotics, autonomous, genomics, bitcoin, and more.

Download: ark-invest.com/big-ideas-2020

Here are 5 slides that really hit it home. Thread:

Deep learning continues to improve at astounding rates. In 2017 it costed $1,000 to train ResNet50 on the cloud, now it costs $10.

Thanks to AI accelerators and 'unlimited' compute in the cloud, AI algorithms are eating up 10x the amount of FLOPs per year.

They promised us flying cars and instead we got something even better—drones!

Drones are to flying cars as smartphones are to mainframes—they are cheaper, smaller, and serve more markets.

Everything from delivering Starbucks to moving people can be made 10x cheaper with drones.

Between Venmo and Square Cash App, they have ~100m users—rivaling some of the largest US banks.

Yet the markets values them at a huge discount to both traditional banking customers and private Fintech companies.

When these customers grow up, so will their valuations.

In a world with 10,000 crypto currencies, bitcoin simply..refuses..to die.

Maybe its unique combination of technical and 'belief' networks endows it with some durable value.

How much? We slice it three ways and a $1T is not off the mark.

Investing based on consensus estimates is a great way to generate consensus returns. That's why we do our own forecasts.

The EIA's forecast for EVs have been underwater every year for 5 years. Based on our battery cost model, we see 7m+ EVs by 2024—7x consensus.