In the middle of September I ran ccusage against every Claude Code session on my laptop since May. It walks the local logs, counts the tokens, and prices them at what the API would have charged. I expected a big number. What came back was about twenty billion tokens and just under fourteen thousand dollars, across every project I’d touched in four months, with most of it going to Pepper, which is now open for signups, so go check it out. Nineteen billion of those tokens were cached reads.

I sat with that for a minute. Fourteen thousand dollars is real money. At my current pace it works out to roughly thirty thousand a year. I could triple it and spend a hundred thousand dollars a year on tokens, and that still isn’t one engineer. In exchange, Chris and I have shipped more code than I’ve shipped in any stretch of my career. I wrote in September that the two of us merged 657 pull requests in our first thirty days with a budget instead of a platform team. When I put the ccusage number in those terms on a panel, it came to about a dollar fifty a pull request.

That number is what my laptop would have cost at API prices, and it isn’t what we actually pay. Here’s the whole bill for both of us. Two Codex subscriptions, one each, are $200 a month. Anthropic is $550 a month: a Max plan for me and Chris, plus two Vycari team seats, one for Chris and one that runs our automation. I have an Ollama subscription at $200 a year. Greptile is about $1,500 a month. All in, that’s a little under $2,300 a month, or about $28,000 a year, for both founders and every pipeline we run. It still isn’t one engineer.

The obvious conclusion is the one a friend reached when he heard the figure: if code is that cheap, just get more tokens. I thought so too, for about a day. Then I looked at what was actually slowing us down, and the token budget wasn’t on the list.

The Constraint Is Attention

Every agent I run needs things from me that tokens can’t buy. It needs a plan approved before it starts. It needs its pull request read when it finishes. When it hits something it can’t decide, it escalates, and somebody has to be there to answer. None of those steps is expensive on its own. The problem is what happens when I run enough agents that the steps overlap.

When I run too many agents, the cost goes up a little and the risk goes up a lot. The biggest thing that’s slipped past us so far was how we managed database connections. It got out of hand, a little at a time, while my attention was on other pull requests, and eventually it caused an outage. Chris had to roll forward while I was out of town, and I spent the following week building a proper database abstraction layer. He put it more bluntly than I would have: the thing that kills us is splitting our attention. That’s when stuff slips through.

When people ask how we decide what to spend, I give them the order. Optimize for human time, because that’s the scarcest thing we have. Then money, because that’s the second scarcest. Then everything around agent time. “I can waste agent time all day. I don’t care.”

So the number that limits us is how many agents one person can supervise well at the same time. I don’t have a precise figure for that ceiling. I know I’ve been over it, because I can feel the difference between a day when every pull request got a real read and a day when I was skimming to keep up.

Another friend told me recently about engineers at his company running up bills in the thousands to build simple internal copies of SaaS tools. His reluctant guess was that they just aren’t as good at using agents yet, and that it’s a skill people have to develop. I don’t know what they’re doing differently. It doesn’t sound like token maxxing, which I’ve never really understood either. I’d love to sit with engineers who run up giant bills and just watch. My guess is they’re using the agents inefficiently, and that what’s missing is supervision, which a bigger budget won’t fix.

Building for More Agents per Person

Almost everything I’ve built since the summer has been an attempt to raise that ceiling, and almost none of it has been about spending less.

The pipeline I described in The Agent That Never Merges is the first piece. Agents open pull requests continuously and never merge them, which means the supervision cost per pull request is bounded at one careful read. The pipeline absorbs the rest: triage, planning, the first round of review comments, the retries. I only see the work once it’s in a state worth my attention.

The second piece is where the work lives. I wrote about pulling Pepper apart into small, bounded repositories to keep CI fast and give agents less to load. It mattered just as much for my attention. An agent working in a repository with one job produces a pull request I can evaluate in one sitting.

We’re up to fourteen repositories now. Last week I moved our iOS app out of the monorepo into its own. That was 150,000 lines of code, and nobody noticed except Chris, who had to wait a day to land his next batch of iOS changes. Agents make refactors that size easy. Having the CLI and the iOS client in their own repositories also forces us to keep good API definitions between the server and its clients.

The third piece is delegation inside the agent layer itself. I run two Claude Opus 5.5 orchestrators on medium effort. One is the UTL, for uber tech lead, and its job is to spawn subagents that build features. The other is what I call the focused worker, and its job is working with me. It catches the manual tasks that come out of the UTL’s pull requests and keeps them in a ledger. Then we work through them together: systems changes, bringing up new platforms, migrating data, anything that needs my level of access and oversight. Everything else goes to a subagent under the UTL, Opus for design docs and code reviews, Sonnet for implementing a feature from a design doc. Every one of these agents can consult a model a tier above it as an advisor, and they all share a wiki for notes.

Anthropic is now advertising much the same pattern with Claude Projects, and I’m happy to see others arriving at the same answer. Chris has been building a loop that babysits open pull requests through review until they score well enough to be worth a human’s time. Each layer like that turns a job I used to do by hand into something I check. The ceiling goes up one delegated task at a time.

The Token Budget Was the Easy Problem

There was a week in September when the meter really was the constraint. We ran through our free credits and paid about $120 in overage. Then AutoDev ate the whole Vycari quota, and I did server cleanup by hand because I couldn’t do anything else.

Most of that was self-inflicted. I’d started with Fable as the orchestrator, with no cap on context, and burned a week’s quota in three days. The setup above fixed it. The orchestrators run on medium effort, and the cheaper model does the implementing. Opus answers the reviews because Sonnet is too literal about them, and a literal reading turns two review cycles into twelve. Every agent auto-compacts at 200K tokens, because Anthropic charges more for context past that point. With that setup, and the work spread across parallel sessions, I find it hard to spend all of my quota. My goal now is to hit 99% of it every week just before it resets. I keep a list of research projects, and if I have quota left 24 hours before the reset, I spin one up. That isn’t the same as maxing out tokens. I’m not trying to use as many as possible. I’m trying to use all the ones I’ve already paid for.

There’s also a second account on the same machine. Claude Code reads a CLAUDE_CONFIG_DIR environment variable, so two shells with two config directories give you two accounts side by side. The second one runs the AutoDev and code review pipelines, and those use up its quota every week, so it isn’t a fallback for my own sessions. When I do run short, I supplement with other labs’ plans. Every one of those fixes took an afternoon or less. None of the supervision problems above has had an afternoon fix.

Where the Money Actually Goes

While I had the numbers in front of me, I looked at where development spend actually lands, because it isn’t where I expected either.

Development tokens currently run about ten times what the product itself consumes, even with real people using it. Building the thing costs more than running it. That won’t last. The feedback from our private beta has been really good, and we now open Pepper to a limited number of new signups every day, so product usage is rising quickly.

Most of what we actually pay goes to code review. Subscriptions are the cheap way to buy tokens if you’re willing to hit limits, so they’re the smaller line. Greptile reviews every pull request we open, and at about $1,500 a month it’s our biggest single expense. We both think it’s worth it, because it’s the layer that lets the never-merge pipeline run without me reading every first draft.

In October I tested that. I spent a few days building a cheaper reviewer to replace it. I came out the other side saying, “I think we should just pay for it because I can’t do it cheaper.” What I could change was how often we call it. The agents kept asking for a re-review before they’d fixed anything. Because every repository shares a common dev environment, the fix went in once: our pull-request skill now has agents run /simplify and then /code-review before they’re allowed to open a pull request. On many of our repositories, our own reviewer also does the first round and only then calls Greptile. My goal is a pipeline where Greptile’s reviews come back with nothing to say. We’re not there yet, but we get a little better every week.

I’d rather pay for review than have a second person do it, and the reason isn’t salary. The person would need supervising too, because review is a job I’d have to check, not one I can hand off.

What a Hire Is For Now

Five years ago, if I’d been getting a product like this ready for market, I’d have been hiring twenty to fifty engineers. The work would have needed that many hands, and most of what they’d have done was write code. Today the code is the cheap part. If I bring someone in to write code, I’ve added a person who needs plans approved and pull requests read, which is the exact resource I’m short on. A hire whose job is output adds coordination faster than it adds capacity.

I said on a podcast that came out last week that the code I’ve written would have cost about fifteen thousand dollars at API prices, and that I couldn’t hire engineers for that money. That’s true. The engineers I’d still want are a different kind from the ones I hired at Google. We need a few more people who can herd agents, not fifty.

The engineering hire that adds capacity is a different shape. It’s someone who can own a bounded service whole. Here’s the interface, here’s everything it needs to do, let me know when it’s done. That person brings their own supervision. They run their own agents, read their own pull requests, and answer their own escalations, and the only thing that crosses the boundary between us is the contract. Supervision divides along the interface instead of piling up on one person. That’s a tech lead’s job, and it’s the only kind of engineering hire I can see that raises the ceiling instead of lengthening the queue.

That raises a fair question about how anyone grows into that job now, which I tried to answer in The Questions Are the Job. The other advice I give is to work on open source. I’ve met people who showed they could work really efficiently with agents through open source projects, Gemini CLI in particular, and some of them ended up being hired onto my teams. Open source has its own problems right now. But if you show up as a thoughtful engineer with features or bug fixes that are well reviewed, well tested, and bring value to the project, I think you’ll be welcome. That’s one of the reasons I decided to open source the Pepper CLI.

The first hire probably isn’t an engineer at all. I’ve said this a few times now, including on stage at a panel in September. Neither Chris nor I are go-to-market people, and I may hire one before I hire another engineer. I can create piles and piles of code, even relatively good code. What I can’t do is agentically acquire customers. (Did I mention that Pepper is open for signups now?) Someone in marketing came up after the panel and told me I’d validated her existence.

The Third Trend

I’ve watched this happen twice before. Open source developer tooling made it so a small team didn’t need to buy or build its own compilers, databases, and frameworks. Cloud infrastructure made it so that team didn’t need to own hardware or a data center. Each time, the number of people you needed to start something real dropped, and the skills that mattered shifted toward the people who understood systems well enough to compose what was suddenly free.

Agentic tools are the third one. Anyone with a good idea can now get from concept to production on a budget that would have been a rounding error in a Google planning cycle. But the constraint didn’t vanish. It moved, the same way it did the last two times, toward the people who understand systems design well enough to drive the agents and notice when something has slipped through. I wrote a year ago that management skills were going to carry over to working with agents. I didn’t expect to be proving it with a two-person org chart and fourteen thousand dollars of tokens.

This isn’t only a small-company problem. At Google it was hard to get more than a few changes in a day, because each one waited on code review. I’ve talked to engineers there who now do all their work in experimental directories that don’t require review, then port it back to their team’s repository at a pace the review process can keep up with. That’s what happens when you don’t manage for human attention. Productive people spend their cycles waiting on the process.

When other companies ask me what to change, my answer has become: drive until human attention is the scarce resource, then build for that. If you’re reading your own ccusage number and wondering whether the answer is more tokens, look at where your attention went first. For us the answer has been more interfaces. Those are the places where one person’s supervision ends and another’s begins, or where an agent takes over a job one of us used to do by hand.