Cathie Wood

It included biotech and there was this dream of personalized medicine back then.

Why?

Because we were close to sequencing

the first whole human genome.

Back then, it cost $2.7 billion to sequence one person's genome.

Today, it costs $100.

Think about that, right?

So from $2.7 billion to $100 billion.

We are ready for primetime.

The technologies are ready, and the costs are low enough.

So this is where we're going to learn a lot.

I think investing, the pendulum shift is going to move back to longer term time horizons.

What many analysts are struggling with right now is the short term time horizon they have.

You know, I want my profits now, I want my dividends now, my share repurchases now.

And unfortunately, it is going to take some time, partly because of the supply chain issues.

We're seeing TSM, you know, it was interesting, TSM's CapEx was stalled at roughly 10 billion, right?

And we were thinking, okay, is TSM signaling that there is an inventory problem looming out there?

Well, I think they just jacked that up.

Didn't they jack it up to, I forget what the number was.

Yes.