To keep raising money at this point, after all the money already raised and ahead of a seemingly imminent IPO should tell everyone everything they need to know about the state of their finances. I can’t wait to read OpenAI and Anthropic’s S1s.
I agree. These investors are already completely exposed. Their only way out of the hole is to dig themselves deeper and wait for 60 days or whatever after IPO to recoup their investment.
It is also why they are valuing themselves so high. They need it to be that high. To return value to shareholders.
