Solana Co-Founder Challenges Senator's AI Jobs Warning with Free Market Defense

Solana Co-Founder Responds to Senator's AI Jobs Warning

Anatoly Yakovenko, co-founder of Solana, has pushed back against Senator Bernie Sanders' warning that AI and robotics could wipe out millions of American jobs. In a series of posts, Yakovenko defended the concept of markets and decentralized finance (DeFi), arguing that they promote innovation and efficiency.

The debate highlights the contrast between Sanders' call for regulation to protect workers and Yakovenko's advocacy for a free market approach. Yakovenko claimed that billionaires hold capital rather than hoarded wealth, and that surplus production raises living standards. He also argued that 500 more trillionaires would roughly double the global standard of living.

The thread looped back to crypto, with Yakovenko stating that any profitable market can be rebuilt as a smart contract. This, he claimed, is the core benefit of DeFi – reducing the cost of finance to the cost of software.