Agree all. And as the revenues become questionable, the frontier labs practices will necessarily become (more) questionable. Vicious cycle.
To avert that dynamic, the frontier labs must deflect and otherwise act to prevent this controversy from breaking through. Both to the general public, but also more specifically to the firms' decision-makers. All of whom are generally aware of the IP issues, and some of whom are aware of what happened with Cursor and Figma, but with few exceptions have not yet themselves acted to protect their property.
As someone who does not understand how IPO works. So they do not need to show whole “big picture” of their revenue vs costs before going public? Wouldn’t build it trust to show they are healthy company worth investing besides speculation? (It must be naive question from)
Yes they do. They have to file an S-1 with the SEC, which will be made public about a month before the IPO.
The S-1 has to include, among other things, three years of audited financial statements, plus interim statements (unaudited). It will cover both revenue and expenses, the latter breaking out things like cost of revenue, R&D, sales and marketing etc.
Based on the (unofficial but reported) IPO target date of late Sep to early Oct, the S-1 will have to be made public in a few weeks from now.
They do, but the accounting rules change based on context. They will file an S1 today outlining how they are rolling in profits then, come tax time, suddenly they are hemorrhaging money. Flesh-and-blood investors have lost all trust in financial filings. See SpaceX.
It's obviously not in their interest. Disclosing would only work as marketing for their IPO and it's the most anticipated IPO in history and needs no marketing. There is like zero positive side to disclosing audited financial statements and massive liability.
"There is like zero positive side to disclosing audited financial statements and massive liability."
Why are you posting about stuff you have zero clue about?
Oh theres no positive side... yes there is. There is a huge amount of failure risk weighing on both OAI and Anthropic - investors don't care about how great you claim your technology is gonna be. They want to know if a viable buisiness model is taking form and whether you will be around long enough given the investment time horizon of the investor.
Right now China is making that failure risk even larger. This directly affects the IPO.
I honestly didn't think anyone in the US considered healthcare socialized (same for housing and a big chunk of university-level education), so I've learned something today.
I personally find it hard to reconcile the concept of socialized healthcare with UnitedHealth Group being apparently the 7th company by revenue in the world, at least I don't think that's what Europeans would mean by "socialized".
As someone from the US, I consider all those industries to be almost fully for profit. Our k-12 education is public, but constantly under fire to move those public funds to private providers via various voucher programs. I would say that each of those industries have various regulations around them, so maybe that's why the commenter thinks it's socialized.
To avert that dynamic, the frontier labs must deflect and otherwise act to prevent this controversy from breaking through. Both to the general public, but also more specifically to the firms' decision-makers. All of whom are generally aware of the IP issues, and some of whom are aware of what happened with Cursor and Figma, but with few exceptions have not yet themselves acted to protect their property.
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