IBM crashes because we’re gonna YOLO a replacement for banking and credit-card back-ends, replacing billions of lines of COBOL with vibe code. Uh…

https://www.techbuzz.ai/articles/ibm-crashes-11-as-anthropic-threatens-cobol-empire

IBM Crashes 11% as Anthropic Threatens COBOL Empire

Anthropic's AI disrupts IBM's mainframe business, sending shares down 11% on threat

@timbray I wonder if there are deeper issues not mentioned in the article? I have heard anecdotally that one of the problems of the COBOL culture is that the practitioners are literally dying off without fresh talent replacing them. Which leaves billions of lines of rock solid but terribly obscure and hard-to-maintain COBOL code. Not to mention the proprietary nature of the underlying hardware architecture.