Why Anthropic's filing crushed tech stocks

conartist6

"The shift in politics is even starker. In the 2010s and early 2020s, big tech was well-liked by most people. But AI is absolutely loathed by the public. These companies have never faced real public dissatisfaction, they all imagine themselves to be the good guys, with the credibility of having created magical search engines and smartphones. But that era is gone. They are now akin to the bankers on Wall Street in 2008, and politicians are winning elections by saying they hate AI as much as the voters do." Yeah I see this too. That we're not innovating any more also doesn't help make our industry look good

bagacrap

Anthropic didn't lose $80B. Some complex securities tied to their stock went up in value by $72B, which they have to count as a loss, even though it's not cash out the door. As far as Google's mark to market profit on Anthropic shares, everyone realizes that's not a sustainable source of income. Which is probably one reason why it's trading at about 15 times profits. If you back out the $99B of (unrealized) equity gains in anthropic and others, Google is trading at 25 times the last 12m earnings.

dangoodmanUT

If they're referring to the recent tumble, I wouldn't suggest anthropic incited that coreweave did i'm sure ant didn't help, but thanks for the fire sale i guess

asmnzxklopqw

did he even renormalize the dataset on the S-1 fill size?

NBJack

The tech blowout had little to do with Anthropic's filing. The numbers from multiple companies show a high CapEx investment in a product that has yet to be proven as profitable as the very things it is hurting (i.e. ads). End of story.

phyzome

Boy, people sure do love turning data points into stories.

simianwords

I tried to give this article an honest read but > Last year, for instance, Anthropic lost $80 billion, and Amazon had negative $42 billion free cash flow. The entire big tech complex, it seems, has moved from minting cash to burning it. And investors are, well, not panicking exactly, but wondering if the bubble is ending Is this really the quality of such newsletters? I’m not asking rhetorically because I’d like to also have trustable sources to understand the underlying reality. I actually spent time understanding this part and the 80B dollar loss thing is completely misrepresented here (also went viral in other media).

feverzsj

It's just the beginning. The real collapse will happen right after midterm.

hnburnsy

My impression was that it was Intel that crushed the market in Thursday and Friday.