Latest news with #Tenev
India Today
18-07-2025
- Business
- India Today
AI is now writing half the code at this company, and it is not Google or Microsoft
Robinhood, the trading platform known for its focus on retail investors, has revealed that artificial intelligence (AI) is playing a much bigger role in its software development than many expected. According to CEO Vlad Tenev, about 50 per cent of the new code written at the company is now being generated by AI, Business Insider made this claim during a recent episode of the 20VC podcast. While companies like Google and Microsoft have also begun using AI to assist with coding, Robinhood appears to be relying on it more heavily. Google and Microsoft recently said that around 30 per cent of their code is AI-generated. But, Robinhood's number is much explained that almost all of the company's engineers now use AI-based code editors. He said it's becoming harder to tell which parts of the code are written by humans and which are produced by AI. "We've moved from GitHub Copilot, which is an autocomplete system, to Cursor, and now things like Windsurf, where nearly all of the code is written by AI," he said. He also mentioned that it's difficult to estimate exactly how much code is human-written, but he believes it's now the smaller change isn't just helping Robinhood write code faster. It's also helping the company save money and improve how its teams work. Tenev said that AI has had a major impact on departments like engineering and customer support. "The impact that it's had on internal teams has been huge,' he noted. He also said the company has been quiet about how much AI it's using behind the scenes, but the results have been growing use of AI comes at a time when the company is performing well in the market. Its stock price has jumped over 170 per cent since the start of the year. This growth has been driven by several factors, including the company's push into crypto tokens based on private stocks, and new product rollouts like a prediction market feature for Robinhood is leading in terms of AI code generation, other big tech firms are also increasing their use of AI in similar ways. Microsoft CEO Satya Nadella said recently that AI writes up to 30 per cent of code in some projects. He also pointed out that the company is using AI to review code, making development more CEO Sundar Pichai gave a similar update during Alphabet's latest earnings call. He said over 30 per cent of new code at Google is AI-written, which is up from 25 per cent a few months ago. Meta's CEO Mark Zuckerberg has also said that he expects AI will soon handle half of the coding at the company, especially for projects like its Llama companies are even changing their hiring plans because of AI. Salesforce CEO Marc Benioff announced earlier this year that the company would pause new engineering hires in 2025 due to AI increasing developer productivity by 30 per cent. Stripe, a payments company, laid off hundreds of workers including some in engineering, partly due to the change toward AI-powered development. Only time will tell whether AI will benefit humans or not in a big way.- Ends
Yahoo
17-07-2025
- Business
- Yahoo
Robinhood CEO says the majority of the company's new code is written by AI, with 'close to 100%' adoption from engineers
Robinhood CEO Vlad Tenev estimates that "a minority" of the company's new code is written by humans. On the 20VC podcast, Tenev said that it's become difficult to distinguish human-written from AI-generated code. He said the company has used tools like GitHub Copilot, Cursor, and Windsurf, and nearly 100% of his engineers use an AI editor. At Robinhood, nearly all of the engineers are vibe coders. That's according to Robinhood CEO Vlad Tenev, who said on the 20VC podcast that the company's human-written code was hard to distinguish from AI-generated code. Among the company's engineers, "close to 100%" are using AI code editors, he said. When asked what percentage of Robinhood's new code is AI-generated, Tenev said that it was around 50%. That's a higher percentage than what Microsoft and Google have previously said, with CEOs Satya Nadella and Sundar Pichai estimating around 30%. Tenev acknowledged that the 50% metric was imprecise, thanks to the upgrowth of "agentic" code editors. "We've moved from GitHub Copilot, which is an autocomplete system, to Cursor, and now things like Windsurf, where nearly all of the code is written by AI," Tenev said. "It's hard to even determine what the human-generated code is." Taking a guess, Tenev estimated the "minority" of new code at Robinhood was written by humans. Robinhood's stock price has been on a tear, trading up over 177% since the start of the year, with multiple factors driving its recent rally. Robinhood expanded its crypto venture by launching US private-stock tokens. Retail investors on Robinhood remain active, and the company continues to roll out new products like a predictions-market hub. On 20VC, Tenev said AI had contributed to the company's cost and efficiency stabilization, he said. "We have been pretty mum on how much we've been using it internally," Tenev said. "The impact that it's had on internal teams, ranging from software engineering to customer support, the really big internal teams, has been huge." Read the original article on Business Insider
Business Insider
17-07-2025
- Business
- Business Insider
Robinhood CEO says the majority of the company's new code is written by AI, with 'close to 100%' adoption from engineers
Robinhood CEO Vlad Tenev estimates that "a minority" of the company's new code is written by humans. On the 20VC podcast, Tenev said that it's become difficult to distinguish human-written from AI-generated code. He said the company has used tools like GitHub Copilot, Cursor, and Windsurf, and nearly 100% of his engineers use an AI editor. That's according to Robinhood CEO Vlad Tenev, who said on the 20VC podcast that the company's human-written code was hard to distinguish from AI-generated code. Among the company's engineers, close to 100% are using AI code editors, he said. When asked what percentage of Robinhood's new code is AI-generated, Tenev said that it was around 50%. That's a higher percentage than what Microsoft and Google have previously said, with CEOs Satya Nadella and Sundar Pichai estimating around 30%. Tenev acknowledged that the 50% metric was imprecise, thanks to the upgrowth of "agentic" code editors. "We've moved from GitHub Copilot, which is an autocomplete system, to Cursor, and now things like Windsurf, where nearly all of the code is written by AI," Tenev said. "It's hard to even determine what the human-generated code is." Taking a guess, Tenev estimated the "minority" of new code at Robinhood was written by humans. Robinhood's stock price has been on a tear, trading up over 177% since the start of the year, with multiple factors driving its recent rally. Robinhood expanded its crypto venture by launching US private-stock tokens. Retail investors on Robinhood remain active, and the company continues to roll out new products like a predictions-market hub. On 20VC, Tenev said AI had contributed to the company's cost and efficiency stabilization, he said. "We have been pretty mum on how much we've been using it internally," Tenev said. "The impact that it's had on internal teams, ranging from software engineering to customer support, the really big internal teams, has been huge."
Business Insider
17-07-2025
- Business
- Business Insider
Robinhood CEO says the majority of the company's new code is written by AI, with 'close to 100%' adoption from engineers
At Robinhood, nearly all of the engineers are vibe coders. That's according to Robinhood CEO Vlad Tenev, who said on the 20VC podcast that the company's human-written code was hard to distinguish from AI-generated code. Among the company's engineers, "close to 100%" are using AI code editors, he said. When asked what percentage of Robinhood's new code is AI-generated, Tenev said that it was around 50%. That's a higher percentage than what Microsoft and Google have previously said, with CEOs Satya Nadella and Sundar Pichai estimating around 30%. Tenev acknowledged that the 50% metric was imprecise, thanks to the upgrowth of "agentic" code editors. "We've moved from GitHub Copilot, which is an autocomplete system, to Cursor, and now things like Windsurf, where nearly all of the code is written by AI," Tenev said. "It's hard to even determine what the human-generated code is." Taking a guess, Tenev estimated the "minority" of new code at Robinhood was written by humans. Robinhood's stock price has been on a tear, trading up over 177% since the start of the year, with multiple factors driving its recent rally. Robinhood expanded its crypto venture by launching US private-stock tokens. Retail investors on Robinhood remain active, and the company continues to roll out new products like a predictions-market hub. On 20VC, Tenev said AI had contributed to the company's cost and efficiency stabilization, he said. "We have been pretty mum on how much we've been using it internally," Tenev said. "The impact that it's had on internal teams, ranging from software engineering to customer support, the really big internal teams, has been huge."
Yahoo
15-07-2025
- Business
- Yahoo
What are ‘tokenized' stocks, and why are trading platforms like Robinhood offering them?
Robinhood cofounder and CEO Vlad Tenev channeled Hollywood glamour last month in Cannes at an extravagantly produced event unveiling of the trading platform's newest products, including a tokenized shares offering designed to give investors exposure to private companies like SpaceX and OpenAI, as well as public companies like Microsoft and Nvidia. For crypto enthusiasts, it was a watershed moment: A major trading platform was finally breaking down the barriers between traditional equities and blockchain technologies. Managers think employees should take a break from work—but they don't promote the ones who do 5 work-from-home purchases worth splurging for This 'Iron Dome' for mosquitoes shoots down bugs with lasers 'The time is now for crypto to move beyond Bitcoin and memecoins and introduce fundamental utility,' Tenev told Bloomberg Television. 'We think, in the future, crypto and traditional financial services will fully merge, and crypto will become the infrastructure layer behind all kinds of financial services.' But Tenev's moment of triumph was short-lived. First, OpenAI cautioned Robinhood customers to 'be careful,' noting on X that tokenized shares are 'not OpenAI equity.' Then, this week, the Securities and Exchange Commission's cryptocurrency task force leader released a statement saying that 'tokenized securities are still securities.' While the statement did not represent an official shift in Securities and Exchange Commission (SEC) policy, it did serve as a signal that U.S. regulators are monitoring tokenization with a critical eye. (For now, Robinhood's tokenized shares are only available in Europe.) Despite the controversy, at least half a dozen companies are racing to develop tokenized versions of traditional equities. Here's what you need to know: Tokenized shares are digital versions of stocks or other securities that mimic the valuation of the real-world version. They give buyers exposure to the traditional equities without giving them governance rights. Tokenized shares can work one of two ways: In the first case, the trading platform acquires shares in a company, and then issues tokens for those shares. There is a one-to-one relationship between the underlying shares held by the trading platform and the tokens that the platform issues. In the second case, the trading platform issues tokens without acquiring any underlying shares, while promising to tie the value of its token to the real-world security's value. The onus here is on the trading platform to be able to cover any gains through its own investment and hedging strategies. Robinhood has said it will own the shares backing its tokens and will provide token holders with benefits including dividends. Many of the leading crypto trading platforms, including Coinbase and Kraken, are in the process of developing tokenized shares. Coinbase is still in talks with the SEC, while Kraken launched its xStocks product, which includes over 50 U.S. equities, in select non-U.S. markets in May. Kraken backs its xStocks one-to-one with traditional equities. Republic, an investment platform known for its private market and crowdfunding solutions, is calling its tokenized shares 'mirror tokens' and is currently operating a waitlist for unicorns including SpaceX, Anthropic, and Ramp. It's capping investor participation at $5,000, and does not plan to acquire shares. 'You're not buying a SPV [special purpose vehicle] interest in SpaceX,' says Mario Lattuga, Republic's head of legal. 'What you're doing is, you want to participate in that prospective upside. And it's as much of a bet on Republic as it is on that 'underlying' company.' Jarsy, founded by former Facebook and Uber executive Han Qin, is one of several younger startups focused on tokenized shares. Jarsy closed its $5 million seed round last month. Proponents of tokenization view it as a way to increase access to private markets and modernize public markets. In the U.S., only accredited investors are allowed to invest in private companies—and even for accredited investors, it's extraordinarily difficult to buy shares of a unicorn like SpaceX. Younger generations of investors, in particular, see the opportunity to get in early on future unicorns as important to their financial success. In parallel, proponents of public company tokenization view the model as a way to increase markets' speed, efficiency, accessibility, and cost. Robinhood is aiming to demonstrate those benefits by making its tokenized shares tradable 24 hours a day, five days a week. Over time, Robinhood aims to eliminate even blockchain middlemen and run token trading on its own infrastructure. For companies, token markets have the potential to undermine control. A private company raising a fundraising round, for example, might struggle to convince investors of its target strike price if the company's tokens are trading at a lower price. For retail investors, there are a multitude of risks, which can vary depending on the specific terms being offered by the trading platform. Some platforms are imposing liquidity constraints, for example. Plus, there has been no official rulemaking around the products, making it unclear what recourse will be available to investors in the event of a trading platform's collapse or other potential problems. The S.E.C.'s crypto task force held a hearing on tokenization in May. Hester Pierce, the task force's leader and an S.E.C. commissioner, indicated in her recent statements that tokenized shares should be treated as securities, or tradable financial instruments, which would make them subject to government oversight. She also noted that the S.E.C. was also willing to collaborate with trading platforms. 'We stand ready to work with market participants to craft appropriate exemptions and modernize rules,' she said. For now, though, the products are in the same kind of regulatory limbo that has plagued some aspects of crypto for years. No. In 2021, crypto exchange Binance launched tokenized U.S. stocks, including for Apple and Tesla. But Binance scrubbed the effort just months later, after regulators balked. OpenAI's famously complex corporate structure may play a role in its cautionary tone. Startup Jarsy, for example, does not plan to list OpenAI tokens. Jarsy could have tried to acquire OpenAI preferred shares through an existing investor, but decided to pass because of the risks associated with tying tokens to a company with a murky governance structure. 'OpenAI is a nonprofit company; the shares they're offering are not exactly shares,' says Qin. The Trump administration is seen as crypto-friendly. If Trump's SEC allows tokenized shares to move forward, it could be difficult for a future administration to walk the decision back. This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
