Catherine Wood and Tom Staudt – Conviction (EP.41)
Catherine Wood and Tom Staudt from Ark Invest join Phil to talk about the early days of Ark Invest and how they built their business. Cathie tells the story of her eureka moment when she had the idea for disrupting the asset management industry and how she battle-tested the idea. Tom tells us how he met Cathie and ultimately got an offer letter filled with exclamation points! Cathie and Tom talk about the early lean years, how the firm pivoted, and how her conviction and confidence in the firm and in her bold calls has never wavered. Cathie reveals how she manages criticism from twitter trolls and what it’s like to become a meme, and being memed. The conversation then moves to copycat funds and Tom explains how imitation from big firms is a form of validation.