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Sure you can, as long as nobody complains too much about problems during night if those 2 people can work overtime every now and then.

You can probably even promise 99% uptime (sounds good enough to most buyers probably?) even if people sleep 8 hours a day as long as the failures comes no earlier than than 15 minutes into their sleep and only happens at most once a month (1% of 30 days is 7,8 hours).

^ this. It's so doable. You can even hit targets better than this.

>Thing is that you cannot do 24/7 oncall with two person and Opus 5.5

Almost all 24/7 on call is support theater anyway.

>Also bus factor start to be pretty big if there is only two persons etc.

Not if a newcomer can be assisted by the other person or even just by AI in understanding the codebase.

depends where you work. on a tiny team the 3am page is usually real and its usually you

Ok, three persons.