Comment by danaris
1 day ago
But "Anthropic is a technology company" isn't enough to claim that their IPO valuation is reasonable.
The problem with WeWork's IPO wasn't that they aren't a tech company. It's that they didn't have a good enough business model.
AFAICT, the only one who cares about whether Anthropic, or WeWork, is a technology company, is you.
I didn't claim the valuation is reasonable. I said that the comparison with WeWork is ridiculous.
> The problem with WeWork's IPO wasn't that they aren't a tech company. It's that they didn't have a good enough business model.
No, they had a fine business model - there are many other companies using it today (including WeWork). It just wasn't worth a technology company multiple.
(Let's also not forget the mountain of crazy things - such as the founder leasing his own properties to the company at sweetheart rates - in the WeWork S1, that actually torpedoed the offering. Anthropic's listing is nothing like WeWork. Nothing. Not even remotely.)