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I'm not in the OSS world much so hopefully someone can help me understand: what does 700k buy you in OSS language development?

In the case of Zig, You can see their financial reports here:

Most of it goes to contributors.

Who are paid at a steady and relatively decent rate. That's cool.

$60 an hour is an absolute bargain for a developer who can operate at this level, particularly considering they aren't using AI tools.