Comment by HardCodedBias

Excellent products, even world changing products does not mean shareholder returns in Anthropic’s case.

Even if Claude meets all of our wildest goals and earns trillions yearly there is absolutely no “guarantee” that any will flow to shareholders.

1. Shareholders do not have control of the company due to its structure. The Trust controls through class T shares. As a backup the founders control through class F shares.

2. Since the company is a PBC its board is allowed balance dividends with other social benefits as they see fit.

This means that even if Anthropic is wildly successful as shareholders have no general legal claim to compel the company to distribute those profits.

It is absurd that with a 2T IPO upcoming this is not front and center.