The article discusses the struggles faced by Cathie Wood’s Ark Invest exchange-traded funds (ETFs), which have experienced significant net outflows due to poor performance and questionable investment decisions. Wood’s flagship Ark Innovation ETF has seen over $1 billion in net outflows this year, as her bets on high-growth tech stocks like Tesla, Roku, and Zoom Video have backfired amid rising interest rates and economic uncertainty. The fund’s heavy exposure to Tesla, which accounts for nearly 10% of its holdings, has been particularly detrimental, with the electric vehicle maker’s stock plunging over 60% in 2022. Analysts criticize Wood’s unwavering belief in her investment thesis, even as her funds continue to underperform. Despite the setbacks, Wood remains confident in her strategy and believes that her disruptive innovation picks will eventually pay off.