[fastball]

I know many, many engineers who are paying something like 2-5% (via subscription) of what their usage would cost if billed by API tokens.

I know some down to about 1% ($200 Max plan vs $20k in tokens per month)

[Certhas]

And I know many people that don't. That have a 20 or 100 dollar subscription for very bursty workflows with months where they barely use tokens.

Not every subscriber is a full time SWE. In fact most professional SWEs will be on enterprise plans and thus not get subscriptions at all.

I think it's very plausible that subscriptions are overall losing money. But we simply don't know.

[fastball]

Claude Code has enterprise subscriptions. No $200 max plan but you can buy $100 premium seats.

(and if you are using per-token billing as an enterprise user without first maxing out a premium seat you are very silly)

[Certhas]

Not true. These seats are being phased out. Enterprise is now token only.