WSJ says Anthropic IPO in October… Are you a buyer? If so, what valuation? - Current run rate is $70B ARR - Raised at $965B, probably going to aim for $1.5T valuation on IPO The S1 will be really important to see the path to profitability and how much capex they are spending. A successful IPO probably setups the stage for OpenAI to go public in 2027, but public markets will have to believe in the sustainability of their growth. Worst case scenario is a pump like SPCX but nothing to sustain it and then a 50% drawdown, but in the case would likely affect other semi companies that ultimately benefit from Anthropic’s spend.

How @elonmusk fixed Starlink: “Starlink was a mess. It was 10X too expensive and they were building 1/10 of how many they needed. Elon’s like I've had it. This is now the bottleneck. I'm fixing this. He grabs a team of engineers that he trusts and they fly up to Seattle. They fire the entire Starlink leadership team. They sit down in a war room and they start running the algorithm. •What is the first principles of satellite design? •How simple can we make this thing? •Why does this exist? •Why are these two things so far apart? •Why do we need this much energy? •Why do we need this manufacturing process? And over the course of a few months they make a two order of magnitude leap. These people had never encountered this design before, but just by applying the algorithm and working with maniacal urgency towards this extremely high design bar, they created this product that's now —if it was a standalone business —would be worth tens of billions of dollars or more.”