Technology
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This is what in thinking. Even the few people I know IRL that know COBOL from their starting days say it's a giant pain in the ass as a language. It's not like it's really gonna cost all that much time to do compared to paying labor to rewrite it from the base, even if they don't end up using it. Sure, correcting bad code can take a lot of time to do manually. But important code being in COBOL is a ticking time bomb, they gotta do something.