David Solomon

But with this technology, my ability to spend more and invest more in growth and accelerate things that can grow our enterprise, it's more available to us.

I think there are places where the number of jobs, the actual jobs will come down.

But the lens I look at it is, you know, I think we can continue to grow Goldman Sachs.

I think we can continue to serve a wider slice of clients with these tools and these capabilities being integrated into the firm, changing our processes.

The question...

You know, the way I would answer the question, if the firm was the same size and it didn't grow, we would certainly be operating with fewer people.

But if the firm grows and you expand and you can invest in other areas for growth, we'll wind up with more jobs 10 years from now than we have today.

Just as, by the way, we have in every step along the journey for the last 40 years, as technology has made us more productive.

I don't think it's different this time.

Well, sure, it concerns anybody that's deploying capital, but I think the journey's pretty clear, even though we're at the beginning of the movie, not the end of the movie.

I guarantee you, at the end of the movie, there'll be a bunch of winners, and there'll be a bunch of losers.

There'll be a bunch of capital that was deployed that ultimately delivered very attractive returns, and there'll be a lot of capital that was deployed that did not deliver returns.

And you can go back in any super tech cycle, or any big investment cycle, and that is the pattern you'll see.

Again, it's not different this time.

We just don't know how that will play out.

But it's very exciting to see these technologies get deployed and the impact it's going to have.

It allows productive people and productive businesses to be even more productive.

And so people get very caught in this question of more or less.

And I prefer a lens that says there are obviously things where we're going to have a lot fewer people, but I'd love to have the capacity to go get more people to spend time with clients.

I'd love to have the capacity to invest in new businesses where I think we can affect clients and we need people to do those things.