1BIG IDEAS2024Annual ResearchReportF O R I N F O R M A T I O N A L P U R P O S E S O N L YB I G I D E A S 2 0 2 4J A N U A R Y 3 1 , 2 0 2 4ARK Investment Management LLC. This is not a recommendation in relation to any named particular securities/cryptocurrencies and no warranty or guarantee is provided. Any references to particular securities/cryptocurrencies are for illustrative purposes only. There is no assurance that the Adviser will make any investments with the same or similar characteristics as any investment presented. The reader should not assume that an investment identified was or will be profitable. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE PERFORMANCE, FUTURE RETURNS ARE NOT GUARANTEED.2B IG ID EA S 2 0 2 4 : D IS C L O S U RERisks Of Investing In InnovationPlease note: Companies that ARK believes are capitalizing on disruptive innovation and developing technologies to displace older technologies or create new markets may not in fact do so. ARK aims to educate investors and seeks to size the potential investment opportunity, noting that risks and uncertainties may impact our projections and research models. Investors should use the content presented for informational purposes only, and be aware of market risk, disruptive innovation risk, regulatory risk, and risks related to certain innovation areas. Please read risk disclosure carefully.DISRUPTIVE INNOVATIONRAPID PACE OF CHANGEUNCERTAINTY AND UNKNOWNS EXPOSURE ACROSS SECTORS AND MARKET CAPRISK OF INVESTING IN INNOVATIONREGULATORY HURDLESCOMPETITIVE LANDSCAPEPOLITICAL OR LEGAL PRESSURESources: ARK Investment Management LLC, 2023.à Aim to understand the regulatory, market, sector, and company risks. (See Disclosure Page)à Aim for a cross-sector understanding of technology and combine top-down and bottom-up research.3B IG ID EA S 2 0 2 4 : IN T RO D U C T IO NBig Ideas 2024ARK Invest proudly presents "Big Ideas 2024: Disrupting the Norm, Defining the Future." A tradition since 2017, Big Ideas offers a comprehensive analysis of technological convergence and its potential to revolutionize industries and economies.ARK seeks to deliver long-term capital appreciation by investing in the leaders, enablers, and beneficiaries of disruptive innovation. With a belief that innovation is key not only to growth but also to resilience, ARK emphasizes the necessity of a strategic allocation to innovation in every investor's portfolio. This approach aims to tap into the exponential growth opportunities often overlooked in broad-based indices, while simultaneously providing a hedge against the risks posed by incumbents facing disruption.We hope you enjoy Big Ideas 2024.Disrupting The Norm, Defining The Future4Reusable Rockets143Technological Convergence5Artificial Intelligence19Bitcoin Allocation34Bitcoin In 202343Smart Contracts 53Digital Consumers64Digital Wallets75Precision Therapies87...
