Elon Musk: Databases COBOL
on Friday, January 20, 2023Meaning of Elon Musk Money Quote: saying money, finance and banking is using outdated technology. Elon Musk said:
“Money is actually a set of heterogeneous databases with vast amounts of legacy code still using COBOL on mainframes in batch mode” — Elon Musk
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In this quote, Elon Musk seems to be making a technical comparison between money and outdated computer systems. When he refers to money being “a set of heterogeneous databases with vast amounts of legacy code still using COBOL on mainframes in batch mode”, Musk appears to be humorously implying that the global financial infrastructure and methods for managing money still rely on antiquated technologies like COBOL (an old programming language) and batch processing on mainframe computers (large centralized systems).
The quote suggests Musk views the underlying technology powering the movement and record-keeping of money as outdated and in need of modernization. So in essence, he seems to be jokingly equating the current financial system to old computer systems still clinging to obsolete technologies and methods of the past.
Exactly. Money is actually a set of heterogeneous databases with vast amounts of legacy code still using COBOL on mainframes in batch mode.
— Elon Musk (@elonmusk) January 16, 2023