The chief executive of the retail-focused trading platform Robinhood says he has a contrarian view on the impact of AI on jobs.
In a Basis Points interview, Vlad Tenev says there will be more software engineers and lawyers in the next decade because AI makes it easy for people to write code, ship products and build new companies.
“In my hot take, my prediction, if I had to make one, is that there will be more software engineers in 10 years than there are today, and there will be more lawyers. So it’s very contrarian.
And of course I could be wrong. I got to put myself out there with something non-obvious. I think you’ll have both of those things. And the reason you’ll have both of those things is that it’s going to become much easier to start a venture and run it autonomously. So you’ll be a software engineer de facto. You’ve got your Claude agents writing code for you. There’ll be more businesses, and the need for the legal profession actually scales with business activity. So if you have a million businesses incremental per year, I mean, each of those is going to need legal support. So I think it’ll be democratized. It’ll be cheaper. It’ll be high quality, but those activities will actually dramatically increase.”
Tenev also believes that the explosion in business formation would ultimately lead to more investment activity.
“And in that world, investing also becomes much bigger. But for a different reason, it’s because we’ll just have a huge amount of new companies to invest in, private and public. And that’ll just increase the activity. Your portfolio will be bigger. There will be many more tradable assets. So you should just expect that the current engine, the things that work now, continue to accelerate in that world.”
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