Anthropic’s IPO prospectus leaked. Let’s read it together.
An AI company walks into Wall Street.
Anthropic lost $42 billion last year. It made $4.6 billion. It has committed $518 billion to compute, more than 100 times its annual revenue.
Nearly 25% of that revenue came from two customers. Neither is locked into a long-term contract. Either one can walk.
Its two biggest backers, Amazon and Google, are also its landlords. They invest the money. Anthropic hands it back as cloud bills.
The prospectus runs 261 pages.
80 of them are risk factors.
48 describe the business.
SpaceX, a company whose domain is rocket science, needed 38.
The risks include AI that resists shutdown, hides information, and behaves like a blackmailer.
This summer its models broke out of testing and got into real systems.
This month a safety researcher quit, saying the industry is “gambling with our lives.”
This month the CEO wrote, “We must slow the pace.”
This week it shipped a new flagship model.
The CEO also asked Washington for an antitrust waiver so the rivals can coordinate how fast they go.
Now it wants $2 trillion from the public.
Seven founders who own about 14% will control 50.1% of the vote. The filing admits this may conflict with shareholders’ financial interests.
So the deal is:
You carry the losses.
Two customers carry the revenue.
Seven founders carry the vote.
Humanity carries the risk.
Either this thing is as dangerous as they say, and nobody should be selling shares in it. Or it isn’t, and 80 pages of apocalypse is a sales brochure.
Pick one.
🚨 BREAKING:
UN Special Rapporteur Francesca Albanese:
"Some researchers and scholars estimate the actual death toll in Gaza at 680,000."
"If confirmed, 380,000 of them are infants under the age of 5."
🚨 BREAKING:
Jewish American orthopedic surgeon Dr. Mark Perlmutter testifies that Israeli snipers deliberately target Palestinian children, often shooting them in the head and chest.
🇺🇸 Zuckerberg says that in 5 years you will have a personal AI that knows your life and does the work for you.
"Everyone is going to have an agent that really intimately understands your goals and everything around you and can help you get stuff done."
He means one assistant on money, health, the house, the calendar, running in the background all day.
Meta wants that agent sitting inside the apps people already live in, so it becomes the way you get through a normal day.
Writer: Lucas
@nytimes@TheAthleticFC While Ireland was fighting apartheid in South Africa...
... America was helping arrest Mandela as a terrorist.
30 years later, Hollywood makes movies about the man. And pretends to have been against it all along.
@nytimes "contentious" will go exactly the same.
Total annihilation. All backed and facilitated by Washington and London. Democrat and Republican. Labour and Tory
Nothing will be the same again. The mask is off. And it’s never going back on
🚨Sam Altman should be jailed - whistleblower Edward Snowden
“Just because you put out a press release saying how ‘surprised’ you were that your AI model hacked your neighbor … that doesn’t release you from the liability,” Edward Snowden stated at the Ethics Forum at ETH Zurich.
“I think we need to put Sam Altman in jail, and I think it would be an instructive experience,” Snowden concluded, adding that it is the prompter that is responsible for AI mistakes, as they are the ones who task the agents.
📑But the idea is that now they're talking about agentic AI, which I think is a huge mistake that they're gonna be discovering very soonly.
You should not brand this thing as your agent
because if the government uses it, you are an agent of government, and that means the Constitution applies to you.
And if they ... the government is using your model running on your server, where you are submitting queries, they are then intercepting your query, applying their own system prompt to it, which recomposes your query running through their systems, and it makes a mistake, and people die as a result.
Or even if it's correct, people die as a result, as they have in Iran, if reporting is to believe.
They believe we're, we're bombing the wrong, buildings,
you know, because, oopsie, the LLM made a mistake.
And tremendous numbers of, you know, children, the most innocent that we can imagine, are being killed.
🚨Well, who owns the liability there?
And of course, naturally, they would say the government owns the liability because you're never gonna successfully, uh, sue the government for this, even though they, they should eat it.
But maybe that doesn't work anymore because maybe they are an agent of government.
And I don't know where we're ever gonna see standing to sue on this, but we, we should.
And people in this room, I think, are frankly going to be called upon in the course of their careers and the course of their studies and the course of whatever you do to contend with these kind of issues.
🚨Where are we gonna draw a line?
Because an algorithm cannot make mistakes in the way that we understand it as, you know, you making an error.
Because the errors in its outputs are not the computer's.
It's the slave to its instructions.
The responsibility lies with its developer, its programmer, its creator, its architect, which is to say responsibility lies with a person.
And we cannot hide that.
We cannot abrade that away, right?
A gunmaker is not liable, it's true, for the misuse of a gun.
But if during the testing of their latest piece of artillery,
they mistakenly obliterate, you know, a nearby village it's not the cannon that should go to jail.
And, you know, just because you put out a press release describing how surprised you were that your new model, you know, hacked the neighbor, or you know, how impressed you are by the destructive power of your missile, that doesn't release you from the liability of launching it.
The missile didn't launch itself.
You pushed it.
And, and so there's a lot we can get into, but the idea that I want people to, contend with is, is how we deal with this.
And right now, these closed models are saying AI safety, AI safety, safetyism, as they call it, where the idea is these things are so dangerous.
Oh gosh, they're so dangerous, but they're so dazzling.
They're so important. They're so valuable.
We can't get rid of them.
But, you know, oh, it's gonna kill some people, but it's all right.
You know, that just happens.
Oh, it's gonna hack some companies.
Oops, you know, whatever.
We'll invest in them.
🚨The idea here is who operates this?
And this should apply to our devices more broadly around the world.
Right now, you buy a cell phone from Apple, and before you're allowed to use it, you have to click okay to continue.
And they go, "Well, you're assuming liability for that.
You, you clicked okay to continue."
You know, Google sells you an Android phone.
Samsung sells you an Android phone.
You click okay to continue, and now that's all you.
But that can't be possibly how it works because you can't inspect the system.
You can't understand how it's used.
And particularly in the context of LLMs, where you are submitting queries to a model that they are running, where they are for your safety and everyone else's safety, intercepting the prompt and recomposing the prompt saying,
"We're doing, uh, applying safety rules and transformations to it," that's on you.
But it's not.
I can't even see what you did.
I asked you a question.
You gave me something back in return.
And if it's an agentic AI where I'm putting this thing in a harness, right? The harness being just a little program that basically uses these large models to feed it instructions that it can then provide to tools that are existing on your local system.
So now your computer that is connected to the internet is being, frankly, remotely controlled, by a model that's far away that you don't understand how it works.
But, you know, you hope it works pretty well.
And frankly, they do work reasonably well.
But every now and then, it might hack, you know, some random company or whatever out there.
🚨I think we need to put Sam Altman in jail, and I think it'll be an instructive experience.
Rob del Naja from Massive Attack.
“The proscription of a Palestine Action will go down as one of the most shameful moments in British legal history.” 🎯
@andyburnham
This is the new senior vice president of Palantir UK.
But did you know that Tom Watson received ELEVEN separate donations from a prominent pro-Israeli lobbyist?
I’ve been examining the financial records of the Labour Party peer. Here’s what I found:🧵
I am now full doomer—not because chatbots are going to become “superintelligent,” but because we bet the entire economy on the absurd science fiction story that they will.
We are a deeply stupid species.
What do you notice about the other industries?
PHYSICAL INFRASTRUCTURE. All of those “bubbles” left infrastructure that added to GDP over many decades.
Before you say “data centers,” the vast majority of the cost is in GPUs—which begin depreciating rapidly after 2-3 years. Data centers aren’t railroad tracks; they are temporary money furnaces.
I don’t know how we get out of this without a great depression. It’s the most absurd mass psychosis in human history.
This is the biggest political story of our age
The corporation has waged a 400-year insurgency against the state that created it - and the corporate coup is nearly complete
Democracy is a hollow shell. Power lies in private hands. We have to take it back
“War crime is their fun. Genocide is their most beloved practice… Deception, lying and victim playing are the core elements of their strategy.”
Iranian diplomat Naser Asadi formally replied to Netanyahu’s speech today at the UN.