Claude Code for Finance + The Global Memory Shortage: Doug O'Laughlin, SemiAnalysis

First speakers for AIE Europe and AIEi Miami have been announced. If you’re in Asia/Aus, come by Singapore and Melbourne. AI Engineering is going global!

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One year ago today, Anthropic launched Claude Code, to not much fanfare:

The word of mouth was incredibly strong however, and so we were glad to be one of the first podcasts to invite Boris and Cat on in early May:

As we discussed on the pod, all CC usage was API-based and therefore it was ridiculously expensive to do anything. This was then fixed by the team including Claude Code in the Claude Pro plan in early June, and then the virality caused us to make a rare trend call in late June:

Now, 6 months on, Doug has just calculated that around 4% of GitHub is written by Claude Code:

We talk about how Doug uses Claude Code to do SemiAnalysis work.

Memory Mania

In the second part of this episode, we also check in on Memory Mania, which is going to affect you (yes, you) at home if it hasn’t already:

Full Episode on YouTube

Timestamps

00:00 AI as Junior Analyst
00:59 Meet Swyx and Doug
03:30 From Value Mule to Semis
06:28 Moore’s Law Ends Thesis
12:02 Claude Code Awakening
32:02 Agent Swarms Reality Check
32:53 Kimi Swarm Benchmarks
37:31 Bots vs Zapier Automation
39:44 Claude Code Workflow Setup
57:54 AGI Metrics and GDP
01:04:48 Railroad CapEx Analogy
01:06:00 Funding Bubbles and Demand
01:08:11 Agents Replace Work Tools
01:13:56 Codex vs Claude Race
01:21:15 Microsoft and TPU Strategy
01:34:13 TPU Window vs Nvidia
01:36:30 HBM Supply Chain Squeeze
01:39:41 Memory Shock and CXL
01:45:20 Context Rationing Future
01:54:37 Writing and Trail Lessons

Transcript

[00:00:00] AI as Junior Analyst

[00:00:00] Doug: This crap makes mistakes all the time. All the time. It is still just like a, like I think of it once again as like a junior analyst, right? The analyst goes and does all this like really pain in the ass information and you bring it all together to make a good decision at the top. Historically what happens is that junior analyst, who I once was, went and gathered all that information, and after doing this enough times, there’s a meta level thinking that’s happening where it’s like, okay, here’s what I really understand and how this type of analysis, I’m an expert in, actually I’m very good at, I consistently have a hit rate.

[00:00:28] Now I’m the expert, right? I don’t think that meta level learning is there yet. We’ll see if l ones do it, right? Everyone who’s spending one quadrillion dollars in the world thinks it will, it better, it better happen by if you’re spending, you know, a trillion dollars and there’s not meta level learning.

[00:00:44] But for me, in our firm, that massively amplifies everyone who is an expert. ‘cause like you have to still do something that you can just like lop it up. It’s very obvious to me. What It’s slop.

[00:00:59] Meet Swyx and Doug