I don't understand. People are fighting to get into funding rounds for Anthropic. No one is forcing anyone to invest. Anthropic isn't stealing any money,
When they’re unable to meet their… *checks notes*, $895,400,000,000.00 in commitments, what do you think will happen to the people that bought at IPO prices?
Retail is a small part of those index funds, and the wealthy won't be happy with losing paper value.
But that's not today. Even if/when they do go public, those pension funds are choosing to invest. They're not forced to invest. People buy S&P500 indexes because they're convenient. They're not forced to invest in indexes.
Shareholders in PBC have no sway. Look up drakes landing v. tilden park from earlier this year. A PBC was in financial trouble and two specific lenders proposed a solution: financing and debt conversion that would increase their combined ownership from roughly 25% to 85%, heavily diluting all other shareholders. An independent special committee of the PBC approved it.
Shareholders holding more than half the stock had requested a vote against this, but none occurred. They were told that the mission of the PBC came first.
It’s an absolutely crazy financial loophole. Basically, if you found your company under these PBC rules (which have only existed for like a decade), you can avoid any accountability to shareholders and do whatever the fuck you want. It’s a total subversion of property law. You can own a majority of the company and they can still unilaterally vote to dilute your holdings to zero.
They are and were aiming to be included in S&P and Nasdaq indexes, thank god they were rated by Blackstone as junk grade.
Even outside of that their 800 billion, and I assume OpenAI's equally shitty compute contracts pollute the MAG7 revenue lines.
How much does it represent the MAG7 revenue books? How much is their shitty stock deal counted towards the above's assets?
Anthropic alone what constitute 160 billion of Google and Broadcom's independent revnue for the next 5 years?
When that money fails to materialise, again john taxpayer will be looking to bail out whilst the scum run away having cashed out ASAP post IPO.
Fuck all the people involved.
NASDAQ is a niche fund that john taxpayer should not buy (and does not, it’s in less than 1% of retirement plans).
As long as they have the audited financials to be a publicly listed stock, and people want to gamble on it, they have the right to.
None of this is true. Your hatred has blinded you, my friend.