I talk about this more explicitly in the PyCon talk (https://pythonspeed.com/pycon2025/slides/ - video soon) though that's not specifically about Pydantic, but basically:

1. Inefficient parser implementation. It's just... very easy to allocate way too much memory if you don't think about large-scale documents, and very difficult to measure. Common problem with many (but not all) JSON parsers.

2. CPython in-memory representation is large compared to compiled languages. So e.g. 4-digit integer is 5-6 bytes in JSON, 8 in Rust if you do i64, 25ish in CPython. An empty dictionary is 64 bytes.

Funny to see awkward array in this context! (And... do people really store giant datasets in json?!?).