The billionaire founder and CEO of Vista Equity Partners makes plea to businesses adopting AI: ‘Don’t destroy your intern program’

Robert Smith liked to play around the dinner table with his kids, asking them to name the most profound tech development in human history. Was it the printing press? Smith, who is CEO of the tech-focused private equity firm Vista Equity Partners, says he was inclined to choose the transistor—an unsurprising choice for someone who became a billionaire by betting on the rise of new software. But he says his kids and other younger people, would likely choose AI since it is the most important tech to emerge in their lifetimes.

Smith shared the story at Fortune’s Brainstorm Tech in Aspen, using it to make a broader point: Each new era of tech builds upon the previous one, and that it’s important for companies to ensure younger people are part of this evolution. Smith says giving young people a role in the workforce not only serves to transfer knowledge, but also the spirit of optimism that has always........

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