How did they have such a large stake? Is this some sort of social club between the Amodei’s and SBF because they share the same ideology (effective altruism)? Did Anthropic get partially funded by stolen money as a result? If so, that’s just gross and puts me off Anthropic.
FTX's former Anthropic stake would be worth about $75B at today's valuation
21–26 of 26 posts
Re: FTX's former Anthropic stake would be worth about $75B at today's valuation
#22> That implies the former FTX stake would be worth about $75B before further dilution. > FTX’s customer shortfall was roughly $8B to $9B. I think these hindsight analyses are interesting because they're leading a lot of into retroactively playing devil's advocate for SBF. It is interesting to imagine a world where FTX made a one-time oopsie, broke some laws to cover it up, but then put all the money back and recovere…
Maybe what they hoped is what actually happens. The SEC gives wealthy people and companies a slap on the wrist typically. A fine that means nothing. Government agencies like the IRC or SEC mostly go after smaller players who are mostly less malicious but don’t have the connections or wealth to fight off the bureaucracy. But in FTX’s case they got in trouble before they reached that level of power.
Re: FTX's former Anthropic stake would be worth about $75B at today's valuation
#23So, if FTX had managed to stay afloat a bit longer, they could have gotten away with it.
Which is a much more interesting statement in the context of certain other crypto organizations than it is about FTX...
Re: FTX's former Anthropic stake would be worth about $75B at today's valuation
#24So, if FTX had managed to stay afloat a bit longer, they could have gotten away with it. Which is a much more interesting statement in the context of certain other crypto organizations than it is about FTX...
Just because this one "investment" (or wager, or gamble, or speculation - whatever term you'd prefer) eventually succeeded* that doesn't set a precedent that we should excuse blatant fraud or encourage even more speculation with other people's money.
*of course, it could still go to zero in the future
Re: FTX's former Anthropic stake would be worth about $75B at today's valuation
#25One hypothetical outcome if FTX had not been shut down when it was might have been "there was never a mass withdrawl of funds from FTX that would trigger an FTX liquidity crisis and Alemeda switched its strategy to 100% HODL, waited until exactly now before selling, thus making all the Alameda investors rich and covering the funds 'invested' by FTX so no harm, no foul".
Amother hypothetical outcome might have been "Alameda continued to make risky, over-leveraged investments, immediately rolling any gains into other over-leversged investments and using FTX's customer's money to cover losses until disaster struck".
I find the second hypothetical a bit more plausible than the first, but I probably just don't understand finance.
Re: FTX's former Anthropic stake would be worth about $75B at today's valuation
#26If i was an ftx customer i would have wanted to be paid in shares of equity and not whatever cryptovalue they paid out years later. This is regardless of today's newspaper