Ant: Can unprecedented revenue growth outrun irresponsibly large investment
avoidboringppl
11 points
2 comments
November 01, 2026
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Discussion Highlights (2 comments)
fitzn
Solid write up
vannevar
The article raises some concerns about the CSP revenue (which could be gamed, since it's part of the circular revenue deals among AI labs and hypoerscalers), but it doesn't delve into the "organic" customer revenue. Fortunately, other sources have done this work and have revealed that 80% of revenue comes from just 1% of their customers, and VC-backed startups make up a large segment of that top tier, while also showing disproportionate growth. Many of these companies are backed by the same VC that back Anthropic.[1] So even the "organic" revenue growth is OPM, not cash flow from profitable businesses. [1] https://www.wheresyoured.at/annualized-enron-rate/#ai-startu...