VS Code in Anaconda Distribution 5.1
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The conda package manager can create isolated 'environments' (like virtualenv but not only for Python) that are very space efficient due to using hardlinks.
The conda-forge community has sprung up to develop recipes and provide packages. The Anaconda Distribution recipes are now actually built from github forks of these conda-forge recipes (we hope to achieve binary compatibility with them sometime soon).
For those unaware, VS Code is an Electron app. Depending on how you feel about using a browser to run a text editor, this may not be considered lightweight.