ETF.com: Do you think it’s just a matter of time before other investors start really catching on to this?
Edelman: Yes. I mean, when’s the first time you heard of a self-driving car?
ETF.com: A few years ago.
Edelman: Exactly. Well, self-driving cars have been around for 50 years. But most people have never heard of them until the last few. Now, everybody is familiar. But the same thing will apply: You go from oblivion to awareness to adoption. And that takes time for people. So I believe that what’s currently considered an unusual, unique investment will become increasingly mainstream, and ultimately you’ll know when this happens when copycats emerge.
And you're starting to see that. Look at ARK Investments. And now there are cybersecurity funds. So you're beginning to see other emergents in the field. And that will become much more common.
ETF.com: What do you see as the target audience for this? I thought it was almost like targeting young millennial investors.
Edelman: Companies that were built for the 20th century will fail in the 21st. This is a fund focused on the future. And anybody who’s planning on living and succeeding in the 21st century should have a portfolio that owns investments focused on the future. So this is as applicable to a 65-year-old as it is a 25-year-old.
I'm convinced that today’s 65-year-olds are going to be alive in their 90s and 100s. So although their issues are different than a 25-year-old’s, they face many of the same issues about digital assets and estate planning. They have investment management issues, long-term care issues, that are of much more concern to them than their children.
My chapter on housing, leisure and recreation is targeted almost exclusively to the older reader, compared to the younger. So this book has broad application for everyone in society.
ETF.com: What are the technologies that have impressed or excited you the most out of all the ones you discussed in the book?
Edelman: They're all exciting. They're all fun. But the two I think are the most important, the most impactful, are nanotechnology and censor technology.
First, the reason for nanotech is that, as Richard Feynman said, and I quote him in the book, “There's a race to the bottom. There's plenty of room at the bottom.” They key is to recognize that computers are getting smaller. We’re now already dealing with DNA. We’ve mapped the human genome. Through CRISPR technology, we have the ability to alter DNA. We can do that as easily as you can cut and paste in a Word document.