Thrive Capital partner says he can't think of a single company he's invested in that laid off engineers because of AI tools (www.businessinsider.com)

Thrive Capital partner Philip Clark argued that AI is augmenting — not replacing — software engineers, saying he "cannot think of a single" portfolio company that has laid off engineers because of AI tools. Clark, who has worked on Thrive’s investments in OpenAI (Codex) and Cursor, acknowledged companies might “grow without adding quite as much headcount,” and hiring is softer (software job ads recently hit a five‑year low on Indeed), but he framed current change as productivity-driven augmentation rather than mass substitution. He acknowledged economic churn and localized turnover, but said concrete examples of AI-triggered engineering layoffs are absent in his experience. Technically, code‑assistants like Codex and Cursor are remaking engineering workflows by automating boilerplate, suggesting fixes, and accelerating iteration — enabling what some call “10x” or even “100x” engineers. That boosts throughput and opens space to tackle higher‑value research (oncology, sustainable mining, space habitation), but raises real concerns for early‑career engineers: fewer entry‑level openings, reduced on‑the‑job training, and anxiety (62% of familiar college seniors told Handshake they worry about AI’s career impact). Clark’s view is optimistic but cautious: AI is reallocating developer effort and raising productivity, yet substantive industry‑wide data on job displacement is still lacking.