Robinhood (HOOD) CEO Vlad Tenev has a contrarian take on the artificial superintelligence doomsday scenario: instead of wiping out money and jobs, ASI will actually supercharge demand for things that can't be easily replicated.
Scarcity Gets More Valuable, Not Less
Tenev shared his thoughts Thursday on X, arguing that artificial superintelligence won't eliminate money or private property because both concepts are fundamentally tied to scarcity. His reasoning? Assets like premium real estate, front-row event access, and NFTs with strong provenance should become even more valuable as AI advances.
It's an interesting framework. If AI can generate infinite content and automate most tasks, the things it can't replicate become more prized. You can't AI your way into owning beachfront property or sitting courtside at the Finals.
Tenev also suggested that "more and more people will be paid to play games and do other jobs that we think of as leisure now." He's pointing to a historical pattern where major technology shifts create entirely new income categories rather than just destroying old ones.
The Chess Industry Didn't Die When AI Won
To back up his thesis, Tenev used chess as a case study. When AI defeated Garry Kasparov back in 1997, plenty of people assumed competitive chess was finished. Instead, the chess industry grew five to ten times larger, and the number of grandmasters increased more than threefold.
The lesson, according to Tenev: technology that surpasses human capability in a domain doesn't necessarily kill interest in that domain. Sometimes it amplifies it.
Robinhood Stock Tests Support After Recent Slide
Meanwhile, Robinhood shares are trying to find their footing after sliding toward mid-November lows. The stock has reclaimed the $116 to $118 support range, a zone that's been active since the summer. Buyers stepped in right where the 100-day EMA lines up with that support band.
The chart shows a broad symmetrical triangle forming below the September high. A descending trendline is capping rallies on the upside, while a long-term ascending trendline continues to hold on the downside.
EMAs Mark the Near-Term Battleground
The 20-day and 50-day EMAs have turned lower and sit near $129 and $128. That zone represents the first resistance cluster. The 100-day EMA near $116 remains the primary support level, while the 200-day EMA near $95 marks the deeper structural line.
The Parabolic SAR indicator flipped during the selloff but is now flattening as price forms a base. Lower wicks at $116 suggest buyers are actively defending that level.
A close above $121 would open room toward the EMA cluster at $128 to $129. If the stock breaks out above the triangle's upper boundary, it could target the $150 supply zone. On the downside, a drop below $116 would expose the rising trendline near $111.
