Ouch. So practically all of that Claude use is just busy work, I guess
Exit liquidity, time to pay off all those private capital loans.
If AI went away tomorrow I would find a new line of work because artisanally handcrafting code is the most boring use of my time in the entire world.
And even if AI is disappearing tomorrow and not progressing any further, i see already myself living on a farm with cheap energy (pre invest into solar and batterie) and having my small AI datacenter in basement and running multiply fable level agents 24/7 for different things.
Genie is out of the bottle.
I too, since I was a child, aspired to be a babysitter.
Biopharma CEO "This presentation contains forward-looking statements, as a result of risks and uncertainties..."
AI/Tech CEO "We will cure all diseases in less than 10 years"
Like look I get it, this is truly impressive tech, but can we at least be a little more sober?
What would it take for AI to not replicate that in biology? Either curing cancer has to be a much harder problem, which is doubtful given targeted treatments like immunotherapy humans have already stumbled across, or AI progress has to slow down massively, which is doubtful given all the trends say it is speeding up.
Then again orange man president and SpaceX is saying some pretty bonkers stuff.
Though Anthropic's IPO flopping might affect the valuation of OpenAI, which further inhibits their ability to raise additional funds (which they're already been struggling with). Given the incestuous financing in AI any major actor in the AI space defaulting could bring a lot of companies with it.
As a side note, regardless of outcome, Anthropic IPO:ing is the first step in the inexorable march toward profit maximization and enshittification. You all better be ready with your verification cans.
If the bubble bursts, better now than much later. The industry stance that's been ongoing "AI, at all costs" has been such a market and economic pressure on the everyday worker that even a small value deflation I deem necessary.
Here's an older compilation of some of the bubble theories in HN https://news.ycombinator.com/item?id=50313358
Hundreds of billions in future liabilities.
IPO valuation above $1 trillion.
The lunatics are running the asylum.
Reporting an increase in the value of the company as a loss is weird, but they have to do it. this is a case where adjusted earnings give a better idea of how the business is going.
So their loss is actually small compared to revenue.
Old-school fundamentals are laughed at or handwaved away. FOMO rules the day. "If Anthropic is the first to AGI, it'll take over every industry and go to the moon!"
Yet to be seen if it tarnishes.
Meanwhile the hyper advanced software company's shitty electron app still flickers so bad on a high refresh monitor that it should require an epilepsy warning. I'll never understand the love for Anthropic, they legitimately have the worst software I have used outside of Microsoft.