The IPO failures last week are not depicting a market that’s keen for a $2T Anthropic.

In the bizzare world of today, rather than trying to convince folks that they have a viable business the AI labs appear fully dedicated to finding a story, any story, that lets them off the hook for tough business and financial questions they seemingly don’t have basic and good answers for.

“We’d be doing awesome financially right now, but we had to slow down because of the killer self replicating bots… humanity over profit!” is not a messaging that’s going to work in the public markets to explain quarter after quarter of massive losses.