Is it not sort of implied by the stats later: "Revenues from Claude Code, a program for coding that Anthropic introduced earlier this year, already are said to be running at an annual rate of $1 billion. Revenues for the other leader, Cursor, were $1 million in 2023 and $100 million in 2024, and they, too, are expected to reach $1 billion this year."

Surely that revenue is coming from people using the services to generate code? Right?

A back-of-the-napkin estimate of software developer salaries:

There are some ~1.5 million software developers in the US per BLS data, or ~4 million if using a broader definition Median salary is $120-140k. Let's say $120k to be conservative.

This puts total software developer salaries at $180 billion.

So, that puts $1 billion in Claude revenue in perspective; only about 0.5% of software developer salaries. Even if it only improved productivity 5%, it'd be paying for itself handily - which means we can't take the $1 billion in revenues to indicate that it's providing a big boost in productivity.

Generating code isn’t the same as running it, running it on production, and living with it over time.

In time I’m sure it will, but it’s still early days, land grab time.

> Surely that revenue is coming from people using the services to generate code? Right?

Yes. And all code is tech debt. Now generated faster than ever.