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Startups are context arbitrages

Alessio Fanelli · 14 Apr 2026

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Every claim below was made in this piece, quoted word for word and numbered in the order the piece makes them, so you can read it there rather than take our word for it. The sentence above each quote is our reading of the claim, not their wording. Each quote was checked against a stored copy of the page at build time; where the two differ, the quote is the fact.

  1. Coding agents are not perfect, but they have raised the skill floor of software engineering dramatically.
  2. Build vs buy in the future will simply be a context arbitrage between startups and their customers.
  3. Startups have always been about the founders and the talent they could attract, they were never about writing better code.
  4. The cracked engineer of the future will be the one that can imbue the most context into the coding harness that their employer provides. And they might not even be an engineer at all.

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