The Ledger

Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.

clear all ✕

why aren't all 5 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable

Assertion Not checkable as stated
Bornstein: AI cannot solve legacy code migration due to lost context
“AI may be able to transpile, you know, COBOL to Java, but there's a huge amount of context in what went into creating that COBOL code that's been totally lost, right?”
Matt Bornstein May 16, 2025 ▶ 31:30 Who's Coding Now? - AI and the Future of Software Development
Prediction Not checkable as stated
Strange: LLMs will automatically translate legacy COBOL code into modern languages
“You can imagine a world where LLMs get so good that you could feed in large portions of code written in COBOL, And they would spit out the same amount of code or the same functionality of said code in a different language, you know, and we're not there yet, bu…”
Angela Strange Dec 22, 2023 ▶ 12:09 Big Ideas 2024: The Rise of the Developer as a Buyer in Financial Services with Angela Strange
Assertion Not checkable as stated
Rabois: Incumbent banks run on COBOL and have zero software talent draw
“And the incumbents can't do this. They, they're still like literally in COBOL often, and their ability to attract talent is just like zero.”
Keith Rabois Oct 16, 2025 ▶ 44:50 Keith Rabois: Israel, OpenAI, Opendoor, and DOGE
Assertion Partly supported
Strange: 40% of legacy bank code is written in COBOL
“40% of bank's code is in COBOL.”
Angela Strange Oct 14, 2021 ▶ 10:52 The Open Source Movement in Fintech
Assertion Not checkable as stated
Sinofsky: One US government branch relies on 7M lines of COBOL
“We met with a government agency this week, and they have one application for one branch for one scenario with seven million lines of COBOL code.”
Steven Sinofsky Jan 2, 2019 ▶ 26:07 a16z Podcast | The $200 PC in the Enterprise
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