Anthropic raises $13B Series F

So many negative comments here! The fact that one of the top players in a new market segment with significant growth potential can raise $13B at a 20x revenue valuation is not the bubble indicator you think it is.

It's at least possible that the investment pays off. These investors almost certainly aren't insane or stupid.

We may still be in a bubble, but before you declare money doesn't mean anything any more and start buying put options I'd probably look for more compelling evidence than this.

These are the same investors who got scammed by SBF who didn't even have a basic spreadsheet that explained the finances.

I see two of nineteen investors were also invested in FTX (Insight and Ontario teachers). With hindsight that's a bad investment although they probably recovered their money here so probably not their worst. Does this actually tell you they are stupid or insane?

I think that's one possible interpretation but another is that these funds choose to allocate a controlled portion of their capital toward high risk investments with the expectation that many will fail but some will pay off. It's far from clear that they are crazy or stupid.

They recovered their money but what about the opportunity cost? Its actually an economic loss. In retrospect given the risk it was a pretty terrible investment.