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> It’s an impossible war and all these investors are throwing their money into a bottomless insatiable pit of money.

Anthropic went from zero to $14 billion in revenue in less than 3 years, growing at 10x per year.

That's what they're investing in.

Also Anthropic seems laser-focused, unlike some of their competitors who are throwing stuff against the wall to see what sticks.

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Revenue, but what about profit? Google can be cash positive but I’m not sure Anthropic can be the same.

Also the switching cost. If its negligible theres no reason for Anthropic to be considered a going-concern in the long term. So its valuation makes no sense from a DCF basis unless you are expecting a liquidation in future. But even then, the liquidation value still doesn't justify its valuation today.

What about it?

It took Twitter 10 years before it was profitable [1]. I'd guess that Anthropic will be one of the companies left standing when it's all said and done, assuming nothing catastrophic happens.

[1]: https://en.wikipedia.org/wiki/Twitter,_Inc.#Funding

I did the math. Twitter was down $1.3 billion over 10 years.

Anthropic lost $5.2 billion last year. So they are 40x better at spending investor money than Twitter.

Hard to call Twitter the archetype for Anthropic.

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