Love how everyone boasted about replacing all the software with ChatGPT and then we end up with coding agents meaning the software engineer are STILL important. The sell is the development tool. It's classic cloud. Where did all the ops people go, many got subsumed by the cloud companies YET every company still has DevOps people to manage cloud infrastructure. The layer of abstraction went up but we still need the people to write the glue code and understand the business. OK great there's a new cash printer in the room. There's a new tool. Let's just start to ground the tooling in its new found gravity, profitability and IPO market dynamics... Reality has set in. The hype cycle is about to explode... Do you remember ride hailing and just how much cash was burned on credits pre Uber IPO. Then remember the IPO itself? These companies are not the new Google. They are a layer on top. Google was still the most efficient cash printing machine in history beyond the the US government and might still be. Will be interesting to see what the trillion dollar IPOs turn into. I'm going to say we see those prices get cut to a third in less than 5 years and scale back up over the next 15-20 years.