In this episode of The Brainstorm, Brett, Nick, and Sam are joined by Frank Downing to discuss the current state of the Software-As-A-Service (SaaS) industry, exploring whether it is dead or simply undergoing a transformation due to AI advancements. They delve into the competitive landscape, pricing power, and the challenges faced by traditional SaaS companies. The discussion also touches on the innovator's dilemma in the context of AI and how it affects companies' willingness to disrupt their own business models. Finally, they examine the dynamics of the crypto market and the shift towards institutional adoption.

If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Wolf.financial, and sponsored by Public. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.

Key Points From This Episode:

• AI is reshaping the SaaS landscape.
• Competition in SaaS is increasing due to new entrants.
• The innovator's dilemma remains a challenge for established firms.
• Crypto markets are maturing with institutional interest.

To learn more about WOLF: https://wolf.financial

To learn more about Public: https://public.com/

In this episode, ARK’s Cathie Wood and Brett Winton speak with Bryan Pellegrino and Simon Baksys of LayerZero, a leading interoperability protocol aiming to unify fragmented blockchain environments. The conversation covers LayerZero’s origins, the evolving landscape of crypto infrastructure, and the expanding role of stablecoins and tokenized assets. Bryan shares his personal journey from professional poker to crypto entrepreneur, and how LayerZero emerged from a need for seamless cross-chain communication.

Together, they explore the trade-offs in blockchain scaling, institutional adoption of crypto, and how LayerZero could power a future shaped by AI agents and global, permissionless finance.

(00:02:55) Bryan Pellegrino’s path from poker to crypto infrastructure

(00:06:31) Why interoperability is critical in a multi-chain world

(00:10:36) Institutional adoption and the trade-offs in decentralization

(00:13:09) The rise of Layer 2s and the compromises in blockchain scalability

(00:16:34) The future of chain proliferation vs. reconsolidation

(00:23:22) How LayerZero works from a user perspective

(00:31:43) Winning market share and competitive dynamics in bridging

(00:43:13) AI x Blockchain: Enabling agentic commerce and microtransactions

(00:49:34) Stablecoins as bottom-up globalization and financial empowerment

(00:54:04) How LayerZero is becoming the default stablecoin infrastructure

(01:02:57) Final thoughts: Stablecoins, tokenization, and AI agents converging

Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

In this episode, ARK CEO and CIO Cathie Wood sits down with Stefanie Drews, the newly appointed CEO of Amova (formerly Nikko Asset Management). Together, they explore the evolution of a decade-long partnership that helped shape both firms — and delve into Stefanie’s remarkable leadership journey as a woman at the helm of a global asset manager. From Amova’s recent strategic expansion in Asia to Stefanie's philosophy of integrating personal, professional, and purpose-driven goals, this conversation blends business insight with human depth. Stefanie also shares how her experiences as a single mother, an environmental advocate, and a structured leader have shaped the way she builds companies and raises a family — simultaneously, and without compromise.

• [00:00] Introduction — Cathie Wood introduces Stefanie Drews and Amova’s significance to ARK
• [02:00] Why “Amova”? The origin and meaning behind the rebrand
• [06:50] How ARK and Amova (formerly Nikko) first connected — a webinar, a cold call, and early alignment
• [10:30] Japan’s surprising appetite for innovation and thematic investing
• [15:00] Fintech’s rapid uptake in Asia and ARK’s early research shifts
• [16:15] Misconceptions about Japanese retail investors and their sophistication
• [18:45] Social media, translation, and virality of ARK’s research in Japan
• [20:00] Amova’s expansion into Southeast Asia: Malaysia, digital wealth, and private equity
• [22:00] Six-part growth strategy and ticking boxes for Amova’s 10-year global plan
• [29:20] Stefanie's leadership philosophy: raising children with structure, empathy, and independence
• [31:25] Career stumbles and moral realignment: learning to face yourself and course-correct
• [34:10] What’s next? Stefanie on continuous progress, purpose, and leading with intent

Amova Asset Management (“Amova”) is a current client of ARK Investment Management LLC (“ARK Invest”) in its capacity as a sub-adviser. Amova is also a compensated promoter for ARK Invest. Amova has entered into an agreement with ARK Invest whereby ARK Invest has agreed to pay Amova a fee in exchange for Amova referring investors to ARK Invest’s ETFs. For its services to ARK Invest, Amova will receive 25% of the advisory fees received by ARK Invest for referred seed investors with respect to the initial seed investment. ARK Invest will also compensate Amova 25% of the advisory fees received by ARK Invest from referred investors other than seed investors in respect of the monthly holdings of each referred investor who has invested into one or more of ARK’s ETFs, excluding those of initial investments made by seed investors. The compensation arrangement will continue for so long as the referred investors remain invested in ARK’s ETFs. The advisory fees charged to the ETFs will not be affected by the fees paid to Amova, because Amova’s compensation will be paid solely from ARK Invest’s investment management fee. Amova and its representatives may also receive non-cash compensation from ARK Invest, such as attendance at events, entertainment and gifts. Receipt of cash and non-cash compensation influences Amova’s referral of investors to ARK Invest.

Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)