**Mastering the Future: Tony Kim on Technology Investing****Episode Overview:**This engaging conversation features Tony Kim, Managing Director at BlackRock and head of the fundamental equity technology group, sharing his insights on the future of technology investing and the transformative power of artificial intelligence.**Key Points:*** **Deconstructing Technology:** Kim utilizes a holistic approach to map the technology landscape, identifying key sub-sectors and their interdependencies. This framework allows him to identify investment opportunities and anticipate industry trends.* **AI as a Catalyst:** Kim emphasizes the transformative potential of artificial intelligence, deeming it the "first representation" of a broader wave of technological advancements. He predicts that AI will permeate all industries, driving significant investment in AI-related technologies and companies.* **Power Law Investing:** Kim believes in the power law concept, where a small number of companies dominate market share in various sub-sectors. He favors investing in leaders and challengers within each sub-sector, acknowledging the winner-takes-all dynamics of the technology industry.* **Ecosystem Focus:** Kim highlights the importance of understanding the entire technology ecosystem, including hardware, software, and semiconductors. By analyzing these interconnected components, investors can gain a comprehensive view of the industry and identify emerging opportunities.* **Mid-Nineties Reflections:** Reflecting on his early career, Kim acknowledges that he would have gravitated towards Silicon Valley had he known the future trajectory of the tech industry. However, he emphasizes the value of his diverse investment experience in shaping his insights.**Episode Summary:*** **Introduction:** Welcome Tony Kim to the podcast.* **Background and Career Path:** Kim shares his genesis as an industrial engineer, investment banker, and his transition into technology investing at BlackRock.* **Technology Investment Landscape:** Kim discusses the evolution of technology investing over the past two decades, including the rise of passive funds and the emergence of active ETFs.* **Future of Technology Investing:** Kim analyzes the transformative potential of artificial intelligence and its impact on the technology industry. He emphasizes the need for investors to adapt to this rapidly changing landscape.* **Deconstructing Technology:** Kim explains his mapping approach to identifying investment opportunities, focusing on sub-sector dependencies and the diffusion of technology across different components.* **AI as a Catalyst:** Kim highlights the key role of artificial intelligence as a driver of industry innovation and investment. He discusses the symbiotic relationship between AI and other technologies, such as semiconductors and software.* **Power Law Investing:** Kim discusses the concept of power laws in technology, advocating for investments in market leaders and challengers. He explains the winner-takes-all dynamics and the importance of emerging technologies.* **Ecosystem Focus:** Kim emphasizes the significance of understanding the entire technology ecosystem, from hardware to software. He believes that by analyzing the interconnected components, investors can identify hidden opportunities.* **Mid-Nineties Reflections:** Kim reflects on the evolution of the tech industry since the mid-nineties. He acknowledges the value of his diversified investment experience and the lessons he has learned along the way.* **Final Thoughts:** Kim offers advice for aspiring investors, emphasizing the importance of critical thinking, flexibility, and taking long-term bets on the future.**Additional Resources:*** [Tony Kim's LinkedIn Profile](https://www.linkedin.com/in/tonykimblackrock/)* [BlackRock's Technology Sector Overview](https://www.blackrock.com/us/individual/insights/2023/ai-innovation-and-disruption)* [iShares AI Innovation and Technology Active ETF (TEKT)](https://www.ishares.com/us/products/239826)* [iShares Technology Opportunities Active ETF (TEK)](https://www.ishares.com/us/products/269878)