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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

#431

Post by BoneShard »

stocknoob wrote: post #361
BoneShard wrote: post #315

Earlier quoted context omitted.

easy: 1. Shit goes into S&P 500 (pump phase) 2. Shit goes to 0. Your 401(k) invested into S&P 500 takes a dive (dump phase) 3. Retail holding bags (full of shit) phase. Case study: Tesla, with a P/E ratio in the hundreds along with declining sales and TAM, is a part of the S&P 500 and, consequently, of many people's 401(k)s.

Index funds are market cap weighted. As companies fail, as they always do (median lifespan of S&P companies is about 15 years), you have less of it.

"That's the point: just pump the shit and offload it to retail. Yeah, it's less than 1% of the S&P 500, so who would even notice?"

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

#432

Post by HDThoreaun »

itsyonas wrote: post #368
Lionga wrote: post #15

Boys we got more subsidy for Claude Code Plans! Let the VC financed spending of 1000$ of datacenter cost for 200$ sales price continue!

$1,000? According to ccusage, I used around 3,200 USD worth of API credits last month, but I'm on a plan that only costs around 100 USD per month, and I'm not even a heavy user. At the end of each week, I have typically used about a third of my weekly Claude limit. So either their APIs are heavily overpriced, which seems rather unlikely, or they subsidise subscriptions to the tune of 100x or even more. Well, I will e…

Why do you think the API being overpriced is unlikely? Seems pretty likely to me that sub sells at cost and api is the massive markup they force on enterprises.

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

#433

Post by Nevermark »

sandeepkd wrote: post #350
Nevermark wrote: post #341

Earlier quoted context omitted.

> ARR seems like a interesting concept Yes, it is a meaningful financial measure of actual progress, exactly where progress is most needed for a new company. > which hides away the concrete details A normal metric isn't a magic trick. It's just the number it is. > The crucial detail is probably the money being spent Accelerating (not just fast) revenue growth at an astounding rate, with absolute numbers that are enor…

> A normal metric isn't a magic trick. It's just the number it is. ARR as a number for steady business or public company is much simpler, ARR for companies at this early stage fueled by the motivation for IPO is more than just a number. Its an attempt to convince the market for a certain outcome without revealing the books > Accelerating (not just fast) revenue growth at an astounding rate This acceleration is fueled…

> ARR as a number for steady business or public company is much simpler, ARR for companies at this early stage fueled by the motivation for IPO is more than just a number. Its an attempt to convince the market for a certain outcome without revealing the books

Of course ARR is simpler for less dynamic companies. Tautology.

Of course a PR is a communication to the market. Also a tautology.

You are framing functional numbers and behavior as fraudulent because... a newsy PR isn't a formal disclosure?

Cynicism is fine. However: accusations should reference some evidence, not just distrust.

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

#434

Post by ethbr1 »

aprilthird2021 wrote: post #426
ethbr1 wrote: post #399

Earlier quoted context omitted.

The root problem: At every company, there is always more work that could be done, but there is not always more work that would increase profits . Existing corporate command and control has optimized for people control, because people cost money and performed work. Control their assignments, and you control costs and what's worked on. Widespread unmetered AI turns this on its head, because suddenly each employee is di…

I mean, the layoffs we are going through right now are patently due to the high cost of AI buildouts and transitions. Meta is taking on significant debt for the first time in a long time to continue their build out plans as AI components have spiked in price. I get what you're saying about how every employee becomes a liability when they are let loose with an AI, and totally agree. But I think the layoffs have a much…

My point about layoffs is that with widespread AI adoption and without department-targeted layoffs, a company risks their AI spend disappearing into the void.

Layoffs + access to AI forces most of that AI use to make up for the layoffs.

Which is a pretty shitty way to burn your employees out... but it has a method.

(Also, I'd say AI infra companies vs everyone else are apples to oranges. This point would be more applicable to a non-AI infra company that's paying for AI use rather than AI infra capital)

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

#435

Post by c0rruptbytes »

vishnugupta wrote: post #304
c0rruptbytes wrote: post #248

Earlier quoted context omitted.

i would assume investors giving billions of dollars have done their due diligence and not base it off vibes...

You’d be surprised how much vibe is there in VC investing. When one is under the grip of irrational exuberance and FOMO due diligence goes out the window. For example look at Sequoia’s investment into FTX and article about Sam that accompanied.

yes but Sequoia invested like 200m, we're talking like Google investing 30b...very different scales and bureaucracies

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

#436

Post by aussiegreenie »

throwaway85825 wrote: post #336
stingraycharles wrote: post #285

Earlier quoted context omitted.

Yeah but SpaceX has undergone some “changes” in the past few months that make it a dumpster fire, rather than Anthropic’s explosive growth. Also, I don’t think the CEOs of both companies operate in the same way.

I dont see why changes at spacex would necessitate any changes at nasdaq.

The US capital markets are closer to Putin's Russia than to free markets.

Historically, listing rules asked: "How much money did you make last year, and do you fit our standard corporate governance box?"

Today, NASDAQ's rules ask: "Do you have the massive market capitalisation, sufficient institutional public float, and transparent liquidity to ensure fair and orderly trading?"

Here are the obvious ones:

1. Free float - Every company that intended to list was required to have at least 20% free float.

2. Index weights were based on the free float.

3. Time before inclusion into the Indices (min 12 months) now 15 trading days

4. Lockup period - minimum 12 months up to 24 months - not 180 days.

I wish people would understand that if America had a functioning criminal justice system, no one would have heard Elon Musk nor Donald Trump.

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

#437

Post by mikeyouse »

limflick wrote: post #401
mikeyouse wrote: post #329

Earlier quoted context omitted.

Rings true in my org -- finance is a big consumer because all the software shops who do integration work with CRMs and ERPs are garbage and take forever to implement changes and via some clever prompting, you can obviate most of that work.

I'm curious, do you have an example?

One regular workflow is a reconciliation we do for events that we put on — a number of costs that are expensed, a number of costs that are prepaid until the event happens, individual registration revenue that is recognized immediately and then the corporate sponsorships that are often paid in advance but their recognition is deferred until the event happens. Previously since that involved both balance sheet, income statement and CRM reporting, we relied on an integration vendor to write custom scripts to bring all the info (poorly) into our ERP. Since then, we’ve found a tool leveraging LLMs to ‘join’ those various sources and our events people generally described the report they wanted with a template in excel and it readily created that report with “export to sheets or excel” functionality.

A report that previously took ~4 hours per month for a very expensive resource now takes 30s to validate and can be run completely ad hoc by the events managers.

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

#438

Post by solumunus »

aprilthird2021 wrote: post #426
ethbr1 wrote: post #399

Earlier quoted context omitted.

The root problem: At every company, there is always more work that could be done, but there is not always more work that would increase profits . Existing corporate command and control has optimized for people control, because people cost money and performed work. Control their assignments, and you control costs and what's worked on. Widespread unmetered AI turns this on its head, because suddenly each employee is di…

I mean, the layoffs we are going through right now are patently due to the high cost of AI buildouts and transitions. Meta is taking on significant debt for the first time in a long time to continue their build out plans as AI components have spiked in price. I get what you're saying about how every employee becomes a liability when they are let loose with an AI, and totally agree. But I think the layoffs have a much…

I really can’t fathom the Meta strategy at all here.

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

#439

Post by pas »

executivevice wrote: post #418
pas wrote: post #397

Earlier quoted context omitted.

sure, but does that risk have good returns to go along? if IPOs are known to be very bad bets why do institutions (supposedly savvy professional investors) participate?

Because they (should) have sophisticated risk models that account for the long tail. If even a few ipos become Google or Facebook, the risk is worth it. But for average retail investors ipo participation will be bag holding exercise. That said betting your conviction is one of the only ways to beat the market, even if it comes with additional risk (emotional+intellectual attachments). If you really believe in ai or s…

you mean that if average Retail Ronnie directly buys the new hot stock at IPO versus getting exposure to it through whatever ETF they have?

yes, directly buying a stock at IPO sounds really strange for me. (because either you know it's undervalued, but then it's insider trading. if not, then why compete with irrational fanatics?)

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

#440

Post by jmathai »

tredre3 wrote: post #114
jmathai wrote: post #86

Earlier quoted context omitted.

The branding of Claude is so much stronger than ChatGPT. Even Anthropic is such better branding than OpenAI (especially considering they're not open at all). My wife knows about Claude because that's what I use and we pay for. She uses it also as a result. And inevitably she will talk about Claude to her friends.

> The branding of Claude is so much stronger than ChatGPT. Absolutely not, you live in a bubble. Everybody knows about ChatGPT. Few non-programmers have heard of anthropic or claude, nor do they care. But they all know what ChatGPT is.

Agree. I didn’t mean stronger in that sense. I meant how it naturally extends to Claude Design, Claude CoWork, Claude Code.

ChatGPT is too awkward to do that with.

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