Shopify CEO Tobi Lütke called the one-person billion-dollar company “bullshit” during a fireside chat at Toronto Tech Week's Homecoming event on Wednesday, saying that while AI makes it technically possible for a solo founder to build that kind of business, he doesn't see the point. “Why the fuck would you not spend some of that money to have someone else around?” he asked. Lütke spoke alongside Rostra founder and Shopify board member Lulu Cheng Meservey in front of more than 700 attendees. He agreed startups with a handful of people can now scale into billion-dollar businesses, citing AI voice dictation company Wispr, which went from seven employees a year ago to roughly 60 and is reportedly closing a round at a $2B valuation. “The shape of companies is going to change,” Lütke said. “Companies will be smaller, but there will be vastly more of them.”
