Veteran's Day

I’m home today with Colin as daycares are closed for Veteran’s Day. I know there’s a significance of 11/11, but these midweek holidays are silly. I’d imagine most Veterans would prefer just moving it to a Friday or Monday. It sure would help parents.

On another note, it appears that the Anthropic IPO is imminent. The range the bankers have given is between a $1.2 and $1.4T valuation which would put them at second largest IPO by valuation right behind SpaceX. It’s an amazing feat, but an interesting one as initial rumors were pointing towards $2T a bit over a month ago.

The number has slowly slid from there perhaps due to some outside factors such as the midterms and a public market tech pullback. It’s a big “drop” but I doubt anyone at Anthropic is shedding a tear. The shareholders that I know are definitely okay with it. Given the hype, I can only imagine that there will be the classic pop on IPO date. Whether that holds or not is the more difficult part.

While there is the chance of a “busted” IPO as always, I think I speak for the majority of investors and employees of other VC backed companies that Anthropic going out at whatever valuation is going to be a net positive. SpaceX and Anthropic are the two big elephants in the room clogging up space for anyone else. Getting them out to the public markets creates liquidity and at least establishes some baseline for these AI valuations.