The Rest Is Money 269. Monzo founder: AI will kill income tax
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Apr 12, 2026 
Tom Blomfield, fintech entrepreneur and Monzo cofounder now at Y Combinator, outlines how AI could reshape work and taxation. He discusses AI matching the internet revolution, coding models writing most code, and professional services being automated. He proposes taxing compute and building sovereign data centres to fund public services and preserve economic leverage.
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Prototype With AI To Learn Its Capabilities Fast
- Try building AI-native prototypes quickly to learn capabilities; Blomfield built a voice recipe app in two weeks.
- He says the same project today could take him an hour, illustrating rapid productivity gains.
Coding Is The Canary For Wider White‑Collar Automation
- Blomfield sees coding as the canary: AI automating code enables it to automate many other white‑collar jobs.
- He warns professions like law and accounting will compress as AI writes software to replace routine work.
Timeline For Humans Losing Economic Utility
- He predicts knowledge work will become largely non‑economically useful within 4–5 years, then physical work when robotics arrive in 7–10 years.
- Blomfield foresees superintelligent AI making senior professionals appear obsolete.