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Frontier Tech Performance: August 2023

The Deepwater Frontier Tech Index aims to provide investors with exposure to themes that we will be talking about in 3-5 years. Go deeper.

This is a series of monthly posts providing an update on performance and sharing what’s on our mind in frontier technology.

Performance Update

What is On Our Mind?

The Things AI Won’t Change

Human Nature Doesn’t Change

In a world facing rapid change from AI, it’s the things that won’t change that you want to build on and invest in.

That’s the classic perspective from Jeff Bezos. He famously told The Harvard Business Review in 2007:

It helps to base your strategy on things that won’t change. When I’m talking with people outside the company, there’s a question that comes up very commonly: “What’s going to change in the next five to ten years?” But I very rarely get asked “What’s not going to change in the next five to ten years?” At Amazon we’re always trying to figure that out, because you can really spin up flywheels around those things. All the energy you invest in them today will still be paying you dividends ten years from now. Whereas if you base your strategy first and foremost on more transitory things—who your competitors are, what kind of technologies are available, and so on—those things are going to change so rapidly that you’re going to have to change your strategy very rapidly, too.

Bezos believed people would always want great retail selection, low prices, and fast delivery regardless of new technology like the Internet. The Internet was a conduit to meet those persistent demands. He was right, and people still want those same things today almost 30 years after the founding of Amazon.

AI is the biggest technological advancement since the Internet. Maybe since even electricity. It will change almost everything. The thing that never changes though, even with electricity and the Internet, is human nature.
As Sam Altman said, “The stuff that people cared about 50,000 years ago is likely to be the stuff people care about 100 years from now.”

Creativity, community, and empathy are the aspects of human nature that won’t change in the face of robotic advancement. We’ve believed this since we started Deepwater to invest in technology companies in 2017, and we still believe this today with the minor edit of empathy to experience. Nothing about the rapid emergence of ChatGPT and other AI tools has changed the human need to create, to commune, and to experience. The continued advancement of AI will only further our desire for those innately human aspects.

Go deeper.

How Can I Invest in the Index?

Deepwater partners with Innovator ETFs to offer the NYSE-listed Innovator Deepwater Frontier Tech ETF. The ticker is LOUP.

To learn more about how to invest, visit the Innovator website.

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