AOL founder Steve Case warns AI poses a 'probably net negative' risk to jobs, urging balance between innovation and regulation as the sector faces growing public backlash.

What happened

Steve Case, AOL cofounder and Revolution CEO, spoke at Fortune's Brainstorm Tech conference in Aspen, acknowledging both "huge, huge opportunity" in AI and real workforce risks. When asked about AI's impact on jobs, Case said "Maybe jobs will be created, maybe a lot of jobs will be destroyed. Probably a net negative, but we'll see how it plays out." He also compared ChatGPT's surge to 100 million users shortly after launch to a "Netscape moment," contrasting it with AOL's growth to 184,000 users in seven years before climbing to 30 million.

Why it matters

Case, who built AOL into the largest internet company of the 1990s, carries credibility on tech cycles and policy risk. He warned that Silicon Valley's "trust us, it's all going to be fine" stance will fail to resonate with the public—noting boos at commencement speeches and protests against data centers. He predicts pressure over AI will surface in the 2028 election, and cautioned executives to treat AI policy as a 10- to 20-year endeavor rather than assuming the current administration's light regulatory touch will be permanent.

What to watch

Case suggested there could potentially be an "FDA for AI," similar to how cars eventually became subject to speed limits and medical innovations to FDA oversight. He also noted that hyperpartisan politics won't last forever and that, over time, "we'll figure out a way to get back together and really get stuff done."