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The 85% Inventory Trap: What 28 Million Workflows Reveal About AI ROI
In Episode 10 of Engineering Alpha in Private Equity, Paul Karner and Dave Mangot dive into the hard data from the 2026 CircleCI State of Software Delivery Report, which analyzed over 28 million CI workflows. While the tech world is celebrating a 59% increase in code throughput due to AI, Dave and Paul reveal a massive P&L red flag: 85% of that new code is getting stuck in "feature branches".
This means the AI isn't generating operational alpha; it is generating expensive, unsold inventory. They break down why only the top 5% of elite engineering teams are actually pushing this code to…
The skinny
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