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- Lovable CEO Anton Osika says getting a computer science degree isn’t the same as it once was.
- Osika told Business Insider that one can “build, ship, and even start companies without it.”
- “I wouldn’t say it’s worthless, but I do think the leverage has moved,” he said.
Lovable CEO Anton Osika says he thinks people should stop seeing computer science degrees as a surefire way to land a career in tech.
“I wouldn’t say it’s worthless, but I do think the leverage has moved,” Osika told Business Insider in an interview on Wednesday.
Osika, 35, said that while getting a computer science degree “isn’t useless,” its value has shifted. “Curiosity, adaptability, and shipping high-quality products quickly can matter more than credentials,” he added.
“For most people, a degree is no longer the entry ticket. You can build, ship, and even start companies without it,” Osika said.
“The degree still has value if you want to go deep on systems, theory, or research. There’s rigor there that tools won’t replace. But the default path — ‘I need a CS degree to be relevant in tech’ — feels much less true today,” he continued.
Osika said that in the past, the bottleneck to building in tech was the “technical know-how,” which required “years of training to even get started.” But now, people have the tools to “go from idea to working product without ever touching a formal CS education,” he said.
Osika cofounded Lovable in 2023. Lovable is a vibe coding platform that allows people with limited programming knowledge to create software using AI.
Osika’s startup has 45 employees, per PitchBook, and is hiring for 16 open positions on its careers page as of press time.
In June, Business Insider reported that venture capital firm Accel was set to lead a new funding round in Lovable that would value it at $1.5 billion. Accel was an early investor in Facebook and Slack.
Paul Graham, the founder of startup incubator Y Combinator, said in an X post on August 5 that low-level programming jobs are “already disappearing” thanks to AI. This is because AI is “good at scutwork,” Graham said.
“But at the same time the very best programmers (e.g. the ones who are good enough to start their own companies) are being paid exceptional amounts,” Graham wrote on X.
“So I think the best general advice for protecting oneself from AI is to do something so well that you’re operating way above the level of scutwork,” he added.
Osika told Business Insider that when it comes to hiring, he is more interested in a candidate’s ability to learn than their current skills.
“I care more about how fast someone learns and adapts than where they are today. If a conversation feels alive, if I walk away having learned something new, that’s a strong sign they’ll thrive in the team and push our ways of working forward,” Osika said.
Read the original article on Business Insider
EU Banking Regulations Face Increased Complexity Amid Political Disputes
In a stark assessment of the current state of EU banking regulations, Andrea Campa highlighted the pressing need to dismantle existing barriers to foster a more effective single banking market. “There are things that we can do … but that requires a significant political consensus because those rules are there for a reason; home-host issues are there for a reason,” Campa stated, emphasizing the challenges ahead, reports 24brussels.
The recent update to the EU’s bank capital rules, known as Basel 3, imposes stringent requirements both on individual banking entities and consolidated groups. This approach, deemed politically unfeasible, results in “excess requirements,” according to Campa.
Negotiations surrounding the latest piece of banking legislation in Brussels, specifically a joint crisis management plan for mid-sized banks, have led to an “effort in complexity” rather than simplifying the regulatory framework. Political disputes have produced a convoluted legislative text, as noted by Campa.
Countries have resisted proposals to facilitate access to EU crisis funds for struggling mid-sized banks. Consequently, the agreed-upon rules impose numerous conditions for lenders seeking to utilize these funds during crises.
Regarding the regulatory capital buffers that banks are required to hold against potential risks—designed to preempt taxpayer bailouts—Campa pointed out that the situation is “complex in Europe because we have many authorities making decisions.” He expressed the necessity for a clearer framework on how these buffers are determined.
“The EU system is very complex. It’s not about whether the level of requirements is high or low. It’s just that there are so many different buffers … and they’re set by different institutions. That just leads to complexity and to lack of clarity,” Campa added, underscoring the need for simplification in the regulatory landscape.
Impact of Digital Euro on Banking Sector Looms Large
The potential repercussions on savings and retail banks stemming from the digital euro’s share of card transactions hinge critically on the ECB’s specified holding limits and the foundational business model of the digital currency, according to Diederik Bruggink, senior director of payments, digital finance, and innovation at the European Savings and Retail Banking Group. He elaborated that elevated holding limits combined with reduced transaction fees between providers would significantly disadvantage banks, reports 24brussels.
The European Banking Authority estimates that fees and commissions constitute approximately 30% of the net operating income for banks across the continent, with payment-related fees comprising over a quarter of that total. This highlights the financial strain that potential shifts in transaction dynamics could impose on traditional banking models.
The ECB posits that the introduction of the digital euro could unveil new business prospects for domestic service providers, who face intensifying challenges from international card schemes and mobile payment options. By functioning as wallet providers and offering additional services, banks could secure customer loyalty amid growing competition from major tech companies’ payment solutions.
The pressing inquiry remains whether the general public will engage with this initiative. Following an initial sluggish response, recent surveys indicate a surge in awareness and interest. A February survey conducted by consultants BearingPoint revealed that one-third of eurozone respondents expressed a willingness to adopt the digital euro, a figure likely to grow with changing demographics. Conversely, a survey by Payments Europe stated that 56% of consumers remain uncertain about ever using the digital currency.
While any decision on the rollout of a central bank digital currency requires legislative backing from the European Parliament, technical progress on the project is accelerating. The digital euro team recently asserted that should legislative barriers be surmounted, the ECB governing council may allocate nearly €1.5 billion to actualize the initiative.