A $1m @cursor_ai grant becomes generational wealth worth ~$267m at the @SpaceX exit if you joined at its seed around October 2023. ~267x the original value 🤯 (after dilution) It’s incredible that you would’ve done better by joining Cursor then compared to virtually any of the AI labs. And by better I mean a 11x greater outcome being at the “wrapper” rather than at @AnthropicAI, and 29x vs @OpenAI in the same timeframe.

I took the investor table from Cursor's $60B exit, and turned it into this graphic with Claude. Some quick notes: each box represents an investor, and the scales are in 4th root (for better visibility). x-axis is money in, y-axis is money out. Each box spans the approximate range of both. The further up and left a box, the larger the ratio of outcome. The boxes try to capture some of the ambiguity on investment size / terms, and range of outcome possible. The most notable one here probably is Ali Partovi's Neo writing a pre-seed check which ~3000x’d in about 4 years. The OpenAI startup fund did quite well here themselves with a nice 500-800x. Thrive, while a bit later, made the most in absolute value, netting somewhere in the range of $7B to $11B

What a $1m grant from 2023 at @AnthropicAI and @OpenAI is worth today. Anthropic: ~$51m OpenAI: ~$16m These figures are adjusted for dilution. Anthropic has had an incredible run in the last few years, and it clearly outpaced OpenAI in growth. Part of it is that OpenAI was already at a ~$30B valuation in 2023, while Anthropic was trailing at ~$4B. Anthropic’s valuation went up 235x from there. OpenAI’s went up ~28x. Anthropic diluted about twice as much in the same timeframe, ~78% vs 39% at OpenAI. You can view the timeline of some of the tender offers issued along the way too.