ARK Invest founder Cathie Wood recently took her first ride in a Tesla Robotaxi in Austin, Texas, describing the experience as “seamless” and “very natural.”
The test ride marks a significant moment for Wood, who has spent over a decade projecting the rise of autonomous mobility. During the ride, she expressed complete confidence in the vehicle, noting that she felt comfortable enough to hold a conversation without monitoring the car’s performance.
When asked why she believes Tesla will lead the autonomous race against competitors like Waymo, Zoox, and Avride, Wood pointed to the company’s vast data advantage. She emphasized that Tesla has been training its AI for more than ten years using data from millions of vehicles, allowing it to navigate complex “corner cases”—unpredictable driving scenarios—that other companies might struggle to anticipate.
Wood also highlighted Tesla’s cost structure as a key differentiator. Because Tesla is vertically integrated, she argues the company can offer rides at a significantly lower price than competitors, who often rely on third-party manufacturers that must also account for their own profit margins. She expects the sector to follow a “winner-take-most” dynamic, with Tesla securing the lion’s share of the market, similar to how Uber established itself in the ride-hailing industry.
Looking toward the future, Wood believes the shift to autonomous driving is a public safety imperative. She noted that with 35,000 to 40,000 traffic deaths occurring annually in the United States, regulators will eventually face pressure to embrace autonomous technology to save lives. She even suggested that future generations might look back on human-driven cars as “weapons of mass destruction.”
As for the broader automotive industry, Wood predicted that traditional auto production has likely peaked and will continue to decline as ride-hailing services become more affordable and convenient. She suggested that legacy automakers might eventually pivot their focus toward defense technology to adapt to the changing landscape.
“I am excited for Tesla. I am excited for Tesla shareholders. I am excited for ARK’s clients because I do think now this slowly, slowly, slowly is moving into all of them,” Wood said, reflecting on the experience.
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