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Anthropic raises $65B in Series H funding at $965B post-money valuation

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Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#381

Post by epolanski »

8f2ab37a-ed6c wrote: post #53

Say you join Anthropic now as an employee. What are the chances of your equity appreciating in value? I don't think we have any historical precedents to this.

It's always a very borderline idea to hold equity in the company you work, argument being that if the company goes south or severely underperforms, you may find yourself laid off and with worthless equity.

So you're assuming lots of risk and putting it all in the same basket.

There's no shame in getting 100k $ worth of stock, selling it and putting it on some vanguard fund and diversifying, in fact it's statistically the best move you can do.

Of course, you can be like those many googlers that did this and then regret in hindsight.

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#382

Post by epolanski »

charlie0 wrote: post #17
tomwheeler wrote: post #14

Earlier quoted context omitted.

Effectively infinite. Databricks is a good example. They're still private after 13 years and closed a Series L round last year. Stripe is similar. Having been through an IPO before, it was good for employee liquidity, but bad for the culture and long-term success of the company.

Dead capital. There's no need for public funding until they are reasy to cash out at the top, if ever.

> There's no need for public funding

You're assuming private liquidity to be infinite and private credit (that fuels VCs) to always have favorable rates.

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#383

Post by DanielHB »

executivevice wrote: post #306
pas wrote: post #170

Earlier quoted context omitted.

... still, "on average" IPOs tend to make money, no? that's why people (fight to be able) to buy them. this gives a nice comfy exit to many late-stage investors, etc. and, of course, it's hard to say that it's great that these companies are mere shadows of themselves post-IPO, but also it's impossible to non-misleadingly assess each IPO as if they were in a vacuum. obviously Coinbase is/was a stupid venture, but at t…

> Approximately 56% to 60% of U.S. initial public offerings (IPOs) lose absolute value over a five-year period. Historically, the median IPO stock has lost roughly 41% of its value five years after its first day of trading. Ipos are somewhat notoriously risky investments.

I remember seeing a video about this subject, since large IPOs are automatically included in index funds it is kinda of a way to extract value from passive investors. Insiders cash out before it hits the indexes, index crashes by a fraction for a %, all pensions in the country (and many overseas) pay for it.

But with OpenAI and SpaceX IPOing roughly at the same time it will likely be more than fraction of a % in this/next year.

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#385

Post by DanielHB »

HDThoreaun wrote: post #271
halamadrid wrote: post #137

Earlier quoted context omitted.

Looking back it feels like GOOG, FB, TSLA etc. all went IPO at reasonable valuations. Retail & public investors did benefit long term and continuing to get higher valuations in public is not a small feat compared to a VC valuation. A trillion dollar valuation seemed so hard back in the day and now there are so many companies in that list. What's the next level? Is this just signs that $ is no longer the inflating at…

I remember a ton of people talking about how FB ipo'd at way too high a valuation. Just checked and it opened at $38 and was $19 3 months later

I think this is usually the case for most IPOs, insiders cash out, index-funds buy in. Basically it is a one-time technique for investors to extract money from pensions.

If you try to configure the index-fund to avoid this problem it is not longer passively managed as each new stock needs to be evaluated in a (at least) semi-subjective manner.

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#386

Post by king_zee »

shtopointo wrote: post #376

Smart move from Anthropic. They're the belle of the ball right now, everybody is talking about them, everybody wants to invest in them, so they can call the shots. Then they'll have money in the bank for a long time no matter what happens – IPO, market downturn, etc. Takes off lots of pressure so they can continue focusing on the product.

you talk like claude of course you're glazing them

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#387

Post by DanielHB »

mcoliver wrote: post #294
topherPedersen wrote: post #62

Anthropic has a great product, but what's going on in the stock market is astonishing. Companies waiting to be valued at a trillion dollars before going public? (I'm writing this comment with the assumption that they will go public soon and the valuation will be higher than this $965 billion dollar private valuation) The stock market used to be a place for companies to raise money from investors. But that isn't what…

Bingo. The bigger story is that the float is not there so the companies are "public" in that they sell a small number of shares at IPO to get crazy market caps that then force the ETFs to buy stimulating demand. It's genius and infuriating at the same time.

It is a one-time technique for private investors to extract money from pensions.

I moved all my money outside US index and global index funds because of SpaceX and OpenAI. At least until these IPOs have passed I will not move any money back. The sheer size of these IPOs might trigger a market crash.

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#389

Post by dbbk »

karmasimida wrote: post #104
cmiles8 wrote: post #12

Probably the bigger headline here is that they’ve blown past OpenAI in revenue and valuation, with OpenAI looking increasingly shaky and vulnerable.

OpenAI isn't shaky or vulnerable, this market will need at least 2 players. I see most of the surge here comes FOMO AI spending which will have to be dialed down later half of the year, otherwise those companies will have to layoff to fund their AI bill, which is harmful to their business. Anthropic grabs its bag at the peak, but feast is over.

The other player is Google.

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#390

Post by dbbk »

ignoramous wrote: post #28
cmiles8 wrote: post #12

Probably the bigger headline here is that they’ve blown past OpenAI in revenue and valuation, with OpenAI looking increasingly shaky and vulnerable.

How? OpenAI and Antrophic are basically the Big 2 racing away at light speed; the others who can't get near them are perhaps shaky & vulnerable. And sure, there's a garden full of those.

Google is the present winner, they're beating everyone else
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