Inside Anthropic's S-1: The Fastest-Growing Company Ever Has a $500B Problem
In this emergency Valuation Corner, Aman Verjee breaks down Anthropic's S-1, the filing that makes it the fastest-growing company at scale of all time. He starts with the 94 pages of risk factors, including models that have shown blackmail-like behavior and risks so large the company says the insurance industry may not have the capacity to cover them.
Aman then walks through who made money: angels Jaan Tallinn, Dustin Moskovitz and Eric Schmidt with a 300X return, the FTX stake sold in 2024 for $1.3B that would be worth about $40B today, Spark, Menlo and Lightspeed, and Amazon and Alphabet…
The skinny
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