IBM/long
Legacy COBOL modernization is now tractable at scale via AI, unlocking IBM's decades-old modernization pipeline.
we reverse-engineered it into more than 100,000 plain-English rules in 40 days
Peak+0.3%
Chamath's "Software Factory" essay surfaces two clean trades: IBM long on AI unlocking the legacy COBOL modernization backlog, and PLTR long as the public company closest to his "accountability-first production system" model where value flows when software cost collapses.
originalwe reverse-engineered it into more than 100,000 plain-English rules in 40 days
The cost of producing software is collapsing. And when production costs collapse, value will migrate to whoever can guarantee the output.