Trading/Crypto/Macro/Micro

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The Kobeissi Letter (@KobeissiLetter) on X

🥸🥸🥸that’s deserve research 🧐

Google has signed a $30 billion deal to lease computing power from SpaceX, paying $920 million per month through June 2029. The move came after SpaceX acquired xAI in February 2026, gaining massive data centres. The deal precedes SpaceX’s highly anticipated IPO next week.

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BREAKING: Marvell Technology extends gains to over +45% in 2 days after Nvidia CEO Jensen Huang says it could become the "next trillion-dollar company."

That's +$90 BILLION in market cap since Jensen Huang's comment.

For the last decade the career advice was universal: learn to code.

It was the safe bet, the future-proof skill, the path to six figures without a traditional degree.

Then AI showed up and entry-level coding jobs started disappearing faster than any other tech role.

This chart tells the story in one image.

Software developer headcount indexed to October 2022 by age group. Every cohort 31 and older is flat or up.

The 26 to 30 group has dropped modestly. The 22 to 25 year old group — the ones who took the "learn to code" advice most recently — is down nearly 20% in roughly three years.

The youngest coders are being displaced first and fastest. That's not random.

Entry-level coding is exactly what AI does best. Writing boilerplate code. Debugging simple errors. Building basic features from clear specifications.

The tasks that used to require a junior developer with two years of experience now get handled by GitHub Copilot, Claude, and a dozen other tools at a fraction of the cost and a multiple of the speed.

The senior developers are fine for now. They're doing architecture, system design, complex problem solving, and managing the AI tools themselves. Their headcount is holding. Their salaries are holding.

The junior developers who were supposed to spend three years learning on the job before moving up are discovering there's no longer a ladder to start climbing.

This creates a genuinely difficult problem for the next generation of software engineers.

The entry-level roles that used to be how you built experience, got mentorship, and proved yourself before taking on harder work are disappearing before you ever get to the harder work.

It's not that coding is dead. Demand for skilled senior engineers is still strong.

The problem is that the traditional path from junior to senior just got significantly harder to navigate in a world where AI handles everything a junior used to be paid to do.

The career advice needs an update. Learn to code is still worth something. Learn to direct, manage, and build with AI is worth more.