This is the minimum viable set-up to have TypeScript setup on a Next.js project, leveraging the new Next.js feature which

Interesting further reading and information:

Q: Is the compiled code held in memory during development or is it compiled to physical .js files?

Q: Woah, Next.js sounds like it has a rad webpack configuration That would be correct - further reading avaliable: https://nextjs.org/blog/webpack-memory