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Anthropic's IPO prospectus shows AI vision, surging costs

143 points · 150 comments · 6thbit

  1. 2ss · · focus · HN ↗
    2 things can be true:

    -LLMs profoundly change society -The LLM business is mangled in terms of ROIC vs CoC

    Such a business already exists - airlines.

    This nuance is what many here refuse/find difficult to understand.

    1. pid-1 · · focus · HN ↗
      Isn't telecom kinda the same? Lots and lots of capex, turned into dumb pipes that can't extract value from their customers.
      1. mattm · · focus · HN ↗
        I don't think telecom is the same. 2025 net income for the big 3 US telecoms: AT&T: $22B Verizon: $17B T-Mobile: $11B
        1. bad_haircut72 · · focus · HN ↗
          Compared to the Google/Facebook and other websites who run over these networks the Telcos barely capture any of the value in that exchange for themselves, whilst stumping for huge amounts of the capex
          1. repeekad · · focus · HN ↗
            Meta alone made more than those three combined at $60B, Google made $132B
          2. ticulatedspline · · focus · HN ↗
            Well, it would be weird if a loaf of bread cost less then the wheat it's made from.
            1. bad_haircut72 · · focus · HN ↗
              This is more like, 90% of the money from selling the bread goes to the guy slicing it, while the ones who bought, own and operate the ovens get the other 10%
      2. akersten · · focus · HN ↗
        If my ridiculous $100+/m subscription to the single dumb pipe that has a government-endorsed monopoly in my area is anything to go by, they're extracting plenty of value from this customer at least.
        1. oyashirochama · · focus · HN ↗
          Which is northing compared to what google and other networking/application companies get from businesses to use their digital, no or little in comparison physical maintenance, products.
          1. TeMPOraL · · focus · HN ↗
            Which is still nothing compared to what users get out of this, which is why the technology continues to work and improve despite occasional bubble-popping events leaving some investors without their shirts.
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