Comment by anxman
2 days ago
A $1T valuation would imply OpenAI’s most recent round is already under water.
Everyone has to get capital efficient now — and fast!
2 days ago
A $1T valuation would imply OpenAI’s most recent round is already under water.
Everyone has to get capital efficient now — and fast!
What does that imply about where SpaceX should have been? It feels like we are re running the WeWork IPO except without the investors who said "no way"
It’s become a reddit meme that this is the WeWork IPO redux, but that’s fairly obviously ridiculous.
WeWork was renting cubicles and calling it technology.
Whatever you think about this market, the LLM technology is real, obviously important, and Anthropic is the market leader. The only similarity is that they’re both famous and well-funded.
Anthropic is renting GPUs and calling it technology.
Sure, they have some flashy models, harnesses, and tooling around it, but their competition isn't that far behind - and some of that competition is 100% free. Their moat is closer to a puddle, to the point that there are entire companies built around the concept of dynamically routing requests either to them or their competitors.
Anthropic is the market leader in a rapidly-evolving market, where customers can and will jump ship the second a competitor's model looks shinier or cheaper.
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And yet, $1T is still insanely high for an IPO. The size of this...inflation...is truly mind-boggling.