Discussion

• @danprimack Dan Primack on x

  Anthropic's restrictions on secondary selling aren't new or unusual. That said, there's a huge active secondaries market for Anthropic, SpaceX, OpenAI, etc. Got to wonder if these cos will hold the line, and how many people will have lost their shirts.

• @briannorgard Norgard on x

  If Anthropic starts invalidating layered SPVs and other “creative” financing structures, private markets are in for a reckoning. The SpaceX IPO will expose just how much synthetic ownership and outright fraud has accumulated in privates.

• @thedukekim @thedukekim on x

  Presenting: counterparty risk

• @lex_node @lex_node on x

  I am surprised more people are not paying attention to this update from Anthropic on its stock policy. This seems like a potential bombshell. There is an active secondary market purportedly in Anthropic stock or derivatives including on fairly reputable (or at least well-known) […

• @andyyy Andy on x

  Imagine owning an Anthropic SPV at sub $100B valuation, sitting on a juicy 10-20x on IPO, and you come to find out your shares are fraudulent and you own nothing. Yikes

• @kukreja_abhinav Abhinav Kukreja on x

  Great to see Anthropic taking a break from nuking the careers of software engineers and pivoting to the much more noble cause of nuking the careers of wannabe brokers

• @chesterzelaya Chester on x

  has anyone checked in on this? [image]

• @isaacking314 Isaac King on x

  While it is pretty silly to sign a stock grant without reading the terms, I do think society has erred by using the terminology of “ownership” for securities with these sorts of restrictions. Being allowed to sell something is a big part of what it means to own it!

• @symonebeez Symoné B. Beez on x

  Anthropic is now saying early shares sold through secondary markets will be void and was illegal. @_masterinvestor this is interesting, I talked about how early share investing is the new financial scam.

• @yoheinakajima Yohei on x

  not sure what happens here, if you bought anthropic secondaries... openai has a similar announcement: https://openai.com/... [image]

• @swarajk_ Swaraj on x

  that vc girlboss fucked it up for everyone lol

• @givnerariel Ariel Givner on x

  This should be common sense... Unfortunately, needing to say this out loud is the direct result of the explosion in SPV “tokenized pre-IPO Anthropic” products and synthetic exposure scams flooding the market. “Any unapproved transfer is legally void...” Duh? That includes

• @charlesd353 Charles on x

  This is almost certainly a bluff fwiw and after the IPO will never be mentioned again (I don't own any Anthropic shares)

• @frankieislost Frankie on x

  Frog put the shares in an SPV. “There,” he said. “Now we can transfer these shares freely” “But Anthropic can still exercise its transfer restrictions” said Toad. “That is true,” said Frog. [image]

• @zeroxkyle Kyle on x

  how many people got rinsed on this?

• @centristpeater @centristpeater on x

  Simply reporting a bunch of unauthorized sales of Anthropic shares made me more money than my entire net worth from working in my 20s. This is insane.

• @turnernovak Turner Novak on x

  One of the things I'm most interested in knowing right now is how big the multi-layered SPV scam really is. Talk to folks directly on the cap tables of these companies, and there's not very many entities that would be enabling underlying SPV's.

• @tftc21 @tftc21 on x

  Anthropic just published a support page that should terrify anyone holding its shares on the secondary market. “Any sale or transfer of Anthropic stock, or any interest in Anthropic stock, that has not been approved by our Board of Directors is void and will not be recognized on …

• @richardchen39 Richard Chen on x

  Many shady crypto people I know have moved on to playing the “hot potato” game in two areas: 1) pre-IPO secondaries and multi-layer SPVs 2) humanoid robots FAFO

• @mikeisaac Rat King on x

  yeah look all the privcos draft this language to scare employees who don't know better from trading on secondary markets and from buyers seeking those shares and yet SPVs, uh, find a way funny to see the saber rattling and twitter accounts doing hyperbolic posts though

• @dowdedward Edward Dowd on x

  Several billion just went up in smoke.

• @shardib2 @shardib2 on x

  By the way, this is bad Like, I've never seen Do you know how much Anthropic is in SPV's and has been traded on secondary markets? Glad I don't own this... total clusterfk

• @amritwt Amrit on x

  Crypto dudes were so retarded