Just say no to Anthropic’s IPO

After a bumbling start …… Anthropic just announced that it is aiming to IPO at “up to” $1.4 trillion (more likely a bit less), an astronomical sum for a company that has (with the possible exception of one anomalous, heavily subsidized quarter) has never made a profit and that has nearly $900 billion in future liabilities. The Amended IPO itself is actually candid about the issues, to some degree:The whole idea that they might be worth trillions mostly comes from projections like this absurd but popular one (try not to vomit when you look at the Y axis) made back in May, at the peak of the tokenmaxxing mania:Predictions like that were predicated on the idea that Anthropic’s revenue would continue on the...

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