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The problem is the people that pay salaries aren’t going to be put off by that. 60% quality for -100% fully loaded employee cost? Have vendor lock-in? Carpe diem, baby. See: MS, Oracle, and Amazon’s recent lay-offs. It’s happening industry-wide and across disciplines.

You still need someone prompting the agent so it wouldn't be -100% salary. I def see AI speeding a lot of devs up enough that less devs are needed and a part of these lay offs stick. But I have yet to see compelling evidence that the agent can replace a SWE without a competent SWE prompting it.