Cathie Wood. ARK InvestCathie Wood compared Tesla to Apple, and referred to crypto as the missing layer of the internet.Ark Invest CEO slammed regulatory backlash against Didi, and other Chinese tech company.Wood predicted that technologies like blockchain and clean energy will transform industries.Check out more stories from Insider's business page.Cathie Wood suggested that Tesla would follow Apple in capturing a large portion of its sector's profits. She also predicted that new technologies would reshape entire sectors and shared what traditional finance professionals don’t understand about bitcoin and other cryptocurrency in a RealVision interview.Ark Invest CEO, who also lamented the recent crackdown against Didi and other Chinese tech companies, argued long-term investments in technology can be more important than profit margins today and encouraged workers to change jobs if their superiority is not recognized.These are Wood's top 10 quotes from the interview. They have been lightly edited and condensed to make them more concise.1. "I believe that I was created to do this. If I had started ARK at 57, I wouldn't be a happy woman." "I feel like I'm a vessel to something that was meant for me."2. "I love being a woman in the business. Amazing mentors have provided me with growth opportunities. You have to leave if you are a boss who delights your bosses, but doesn't get promoted despite the numbers being loud and clear. Don't lose heart, just move on and share your brilliance with another team.3. "We are at the edge of greater change than ever before. There will be a lot of disruption and disintermediation. We see financial services, the energy sector, and any other industry that touches the internal combustion engine, its suppliers, or anything physical in terms being the touchpoint for consumers, the point-of-sale - all in danger.4. "There is a lot of inefficiency in Tesla's research and investment. Our target price for our base case right now is about $3,000. Many people think this is a ridiculous number. The stock currently trades at $700. We believe the reason Tesla's valuation is so inefficient is due to the short-term time horizons of analysts and the wrong analysts following them. Wood said that analysts aren't able to grasp the full potential of Elon Musk’s clean-energy company.5. "Apple knew that a cell phone was a computer long before Ericsson and Motorola. Because Intel and Qualcomm were going with the volume players and Apple was nowhere, it designed its own chip. It has retained the largest share of profits in the mobile phone market by designing its own chip. Despite its declining share, its value has increased. That's what we think will happen to Tesla.6. They are more efficient than other cars. They delight the customer. This is how Apple won. This is how Tesla will win. This suggests that Tesla's cars are of superior quality and performance to its competitors.7. These technologies took 15, 20, 25, 25 years to mature before they could be ready for prime time. Everyone who ran the same strategy back then as we at ARK do now was cheered on. It was hallelujah! The brave new world, rahrahrah–rah, everyone chasing one another and trying to outdo one another. We're a strange duck today. This contrasts with Ark's current investment style which is skeptical of technology and the widespread support for it before the dotcom crash.8. "Execution" does not necessarily mean reducing operating margins to the nth degree. We could care less about this. We want them to spend in the beginning. Execution is all about R&D. How much are they spending? Are they spending it in the right areas or throwing spaghetti at a wall? Ark is more concerned about technology investments than profits, this statement emphasizes.9. "The behavior of China, which is very defensive, is anathema for the rest of the globe and likely not to the delight of its own people. This is a little bit of a stifling situation. Anybody who dreams of being a unicorn and has more than one million users will have second thoughts. The government is basically keeping them under surveillance. "I don't believe you should encourage entrepreneurship in this way." Commenting on the recent crackdown by Chinese regulators on Didi and other domestic tech companies.10. 10. Commerce was not the original purpose of the internet. This is what the internet is.
