This is a most excellent place for technology news and articles.
Interesting. I thought companies usually waited until they at least had a good product or cashflow before going for enshittification.
It is odd that the 3 big players are trying to rush to IPO... probably to dump their shit and cash out before the bag holders have time to sell... I've got a feeling they know it's going to crash soon.
They have to beat OpenAI and SpaceXitter because they're afraid the investors will jump on the first AI bandwagon that comes around and have less or no money for them.
They have a lot less runway to enshittify than everything else we've seen recently. Because AI is way more expensive than anything else we've gotten for "free". Which means they're already on borrowed time.
Hopefully they get it over with sooner rather than later. The longer it takes, the more my retirement savings gets fucked.
And there is a waiting time after the IPO before cashing out is possible, half a year or so. Critics with some knowledge expected the bubble to pop somewhere in 2027, so with the half year waiting period they have to make their move soon or they'll sell on the downslope.
Got to cash out their shares using your pension fund before they go bankrupt.
Is there any way to get my 401k to not invest in this shit?
I don't want my entire retirement to go up in smoke... Again. There isn't even that much of it 😭
Real answer:
Depends on who manages your 401k. Some servicers do allow 'custom' or otherwise 'alternative' management options, with some allowing you to focus on specific companies or industries.
Others might take your call at least and if you raise enough of a stink you might get shoved into an alternative plan out of spite, but that's what you want, so you win.
Joke Answer
Take out all your money, pay off the fee, use the money to buy a used Komatsu D355A crawler tractor and at least a half pallet each of of concrete bags and rebar as well as an extra diesel tank and a decent amount of diesel. Then just find your local senator's personal home and
Classic Killdozer
It’s a speedrun 🙃
Does the US Stock Market even mean anything anymore? It's been screwed and manipulated by so many people it's mostly a dead corpse that holds no real value for society anymore. Just a broken money tool of the rich.
I think, at this point, it's really just like a dozen people trying to control the world via trading money that is essentially meaningless to them.
And holds peoples retirements and investments.
Since you have very few places to put money into that won't get eaten by inflation.
I worked for a company once that went IPO and we had stock units assigned to us.
CEO: Companies try to stay private for as long as they can, they don't just IPO for the hell of it. They're trying to solve a problem with money. Maybe they owe people money, maybe they need to spend a bunch of money to take the company to the next level. An IPO doesn't fix any problems; rather, it turns one set of problems into a bigger, harder set of problems.
Founders try to cash in. They've raised the cow, now's the time to send it to the butcher for parts
You don't have to IPO to cash out, people cash out of private ventures all the time.
If the founders all want to cash out at once, or there's a iceberg that the see, or the company isn't as liquid as it needs to be to cash out....
I strongly suspect they either can't find or sustain the profit, or they think the bubble is close enough to get out early.
IPO brings a lot of money though, much more than seed money.
Market manipulation it is then. Let's go lads! I will be dancing over their grave once they go bankrupt.
how can you file confidentially for a public offering?
that's like throwing a public party where you are expecting to make money of the cover charge but not telling anyone about it
Poor wording. The content of the filing is confidential, not the act of filing.
I had read confidently and was like I bet you smug bastards.
But don’t the public investors need that info to decide? Like a prospectus?
I don’t know that much about IPOs. I’m just assuming.
First the SEC and other authorities need to vet the offering. By filing confidentiality this initial stage is kept from competitors.
It means that instead of filing publicly 90-120 days ahead, they can hold off public prospectus to 21 days ahead of launch.
Well that's shady as fuck.
First an IPO has to get SEC approval. A confidential filing means they send the information to the SEC without it being generally available. The public prospectus follows after approvals are given.
Time to short the fuck out of them, I guess.
You absolutely should do that.
Let the unhinged enshitification begin!
...begin?
I feel the enshitification is still yet partially hinged.
i cant wait until the bubble bursts and every single ai company collapses
I can. They're propping up the whole stock market at this point. Pretty much the definition of "too big to fail." So when they inevitably fail, Congress is going to give them our tax dollars.
Congress is already giving them your tax dollars. They've gotten a number of tax breaks and subsidies.
A company worth 4 billion has produced 5 billionaire..its all a crock. Apologies, thought we were talking of Palantir.
As the Bloodhound Gang said: Lift your head up high, and blow your brains out.
*Whoops, that's confidentially, not confidently. Still.
Life is short and hard, like a body-building elf
Why do all these headlines say that a company "confidently" files for an IPO? I'm assuming it's just AI, but man is that tired and confusing.
Confidentially. I read confidently at first too.
So they confidentially go public. Makes sense lol
It does, actually. From the article:
Anthropic’s confidential filing will give regulators a period to look over the company’s financial disclosures before the AI firm’s investor prospectus becomes public. Filing confidentially has become common for major firms, with SpaceX approaching its IPO in the same manner.
[…]
“This gives us the option to go public after the SEC completes its review. The proposed initial public offering will depend on market conditions and other factors,” Anthropic said.
OK, but same question
I really hope that some of these big players in the AI market will stay private. There are already enough headwinds to them being a force of good in the world without having to report to shareholders of the lowest denominator.
I assume they are all running for the public exit because they are losing money faster than they can raise it and don't have any reliable business models to which they can transition in the near term. If they can't become profitable, the next best thing is to go public while the hype is hot and to cash out ASAP.
