Jason Calacanis

Then...

Then...

February 23, anthropic announces Claude can modernize COBOL databases.

February 23, anthropic announces Claude can modernize COBOL databases.

If you don't know COBOL, that's the like oldest coding language in the world.

If you don't know COBOL, that's the like oldest coding language in the world.

That's where Saxon learned code when he was in college in the 70s.

That's where Saxon learned code when he was in college in the 70s.

It's used for banking, payroll, government, healthcare, healthcare runs 95% of ATMs.

It's used for banking, payroll, government, healthcare, healthcare runs 95% of ATMs.

in the US and it powers Social Security payments.

in the US and it powers Social Security payments.

85% of all Cold War code runs on IBM machines.

85% of all Cold War code runs on IBM machines.

So IBM decided they would tank 13% on Monday, their worst day since $2,031 billion in market cap losses.

So IBM decided they would tank 13% on Monday, their worst day since $2,031 billion in market cap losses.

So let's stop here before I get into the fanfiction piece.

So let's stop here before I get into the fanfiction piece.

What's your take here of what's happening in the market, Shamath?

What's your take here of what's happening in the market, Shamath?