*By Carlo Versano*
Once every decade, there's a seismic shift in technology ー usually in the form of a new innovation ー that reshapes how we live, said venture capitalist Gene Munster.
"There's always little waves going on in tech, but every 10 years or so there's a big wave that hits," Munster, a managing partner at Loup Ventures, said Wednesday in an interview on Cheddar.
There was the smartphone in the mid-aughts, following the widespread adoption of the world wide web. Before that, the PC. Munster said we're now in the early stages of the latest changes in tech: the emergence of A.I., robotics, autonomous vehicles, and augmented and virtual reality. Our lives, he said, will be manifestly different. And Munster's firm recently launched a new ETF to expose investors to that theory.
The Loup Frontier Tech ETF will contain a basket of relatively small, highly innovative tech companies with market caps in the $500 million to $2 billion range, Munster said. [The fund](http://www.innovatoretfs.com/pdf/LOUP_Factsheet.pdf), which launched in late July, was built to reward companies with revenue growth and positive cash flow.
For now, Munster wants to prioritize smaller stocks, but there's one major exception: the ETF does hold shares of Tesla.
Why does the $50 billion-plus company fit the strategy? Munster said Tesla, despite its public dramas, has "the greatest product road map of any tech company." He added that CEO Elon Musk has built a business that is uniquely positioned to leverage renewable energy, the storage of that energy, and the combined trends of zero-emissions and autonomy in automobiles.
Munster's belief that virtual and augmented reality are technologies that will "fundamentally change how humans interact with each other" is not widespread ー VR, after all, has struggled to gain broad adoption, and Snap, which built its first app on the basis of AR, has seen its share price cut in half since its IPO last year. But the Loup Frontier Tech ETF includes stocks like Micron Technology, which makes chips for VR headsets. That kind of diversification ー plays on gaming and autonomy side by side ー is what distinguishes his ETF holdings from typical sector-based funds, Munster said.
One tech giant which may be marking its own seismic shift is Apple. Munster, who was previously a top analyst of the stock at research firm Piper Jaffray, believes the company is on the verge of transitioning from a hardware operation into a service-based company with its App Store, Apple Music, and iCloud. That change will propel the stock higher as investors shift from a "boom-bust" mentality based on the product cycle to a more solid conception of "Apple as a Service."
And what about Apple, flush with all that cash, making a play for Tesla?
Munster said it isn't out of the question. Both companies have a shared ideology based on a love of design; and Apple has long been trying to enter the EV market with its Project Titan electric car.
"It's always been a fairy tale that Apple and Tesla are going to find a way to get together," he said.
For full interview [click here] (https://cheddar.com/videos/gene-munster-captures-tech-growth-with-new-etf-launch).
Aaron Jefferson, VP of product at Luminar, joined Cheddar to discuss partnering with automaker Volvo to bring its LIDAR (light detection and ranging) tech into autonomous cars capable of safely driving on the highway. While companies like Tesla have come under fire due to safety issues with its self-driving technology, Jefferson noted how his company's tech differs. "Our LIDAR, its iris sensor that's really set for production, is able to sense, understand, and give the vehicle confidence to react accordingly such that you don't have these same types of issues," he said. The Ride Pilot technology in Volvo vehicles will be rolled out in California following safety testing.
The fintech app backed by billionaire Mark Cuban called Dave made its public debut on the Nasdaq Thursday via a SPAC merger. CEO and co-founder Jason Wilk spoke to Cheddar's Kristen Scholer about the IPO and how his company's services distinguish it from traditional banks. "Customers come to us because they're tired of paying $20 billion of overdraft fees, and they come to Dave, they download our app, and within minutes they can get access to $250 of no interest credit, which we give them through our own proprietary machine learning model," he told Cheddar.
Stephanie Linnartz, president of Marriott International, joined Cheddar's "Closing Bell" to talk about the launch of the Marriott Design Lab, a new facility within its Bethesda, Maryland, headquarters to explore innovative tech offerings for bolstering the guest experience. "It's all around figuring out how we can innovate in the guest room in the public space, looking at how we can use robotics, improve sustainability, etcetera," she said. Some short-term changes in the future Linnartz also noted is an expansion of the chain's mobile capabilities to make check-in and check-out an easier process for guests, as well as mobile room service, from the feedback it received during the pandemic.
Nike has initiated a lawsuit against athletic apparel retailer and competitor Lululemon over claims of patent infringement. The sneaker giant is claiming the technology in their rival's MIRROR home gym was patented back in 1983.
Adi Robertson, senior reporter at The Verge, joins Cheddar News to break down the battle between two NFT collections by Phunky Ape Yacht Club and PHAYC that are selling plagiarized Bored Ape Yacht Club designs.
Dan Diasio, EY Global Artificial Intelligence Consulting Leader, joins Cheddar News to discuss the role of artificial intelligence for everyday consumers, what hurdles are holding back for greater A.I. adoption, and advice for businesses using this emerging tech.
On this episode of Cheddar Innovates: Founder of Unlimited Tomorrow breaks down how he is creating completely 3D printed prosthetics to make them more affordable, customizable, and accessible; Chief Technology Officer of Zebra Technologies explains what the future of collaboration between robots and humans may look like; A look at Curiosity Stream's 'Mystery of the Roman Skulls.'
Easton LaChapelle, Founder and CEO of Unlimited Tomorrow, and joins Cheddar Innovates to discuss how he is creating completely 3D printed prosthetics to make them more affordable, customizable, and accessible. LaChappelle was recently featured in a short film called 'GENERATION IMPACT: THE INVENTOR,' which follows the story of a 14-year-old girl receiving a True Limb and can be found on HP's Digital Hub 'The Garage.'
Tom Bianculli, Chief Technology Officer at Zebra Technologies, joins Cheddar Innovates to discuss how they are creating technology to make workers' lives easier, and what the future of collaboration between robots and humans may look like.
