The entire stock market basically functions as a funnel of wealth from the middle class to the rich right now. When OpenAI and Anthropic IPO, they'll be megacap stocks and 401ks and pension funds the world over will invest in them. Then insiders will cash out, and the AI bubble will collapse. USD will have transferred from the retirement accounts of middle-class people to the rich. This is how all stock market crashes work. This one is especially interesting because the middle class is already so squeezed - how many more times can they pull this trick off? Seems like it can't go on many more times.
That's not how the Google IPO worked. If you bought that at IPO and held it this whole time, you'd be very rich by now. Which is why the financial system will never let that happen again. These days many of the companies that go public will be nefarious financial schemes in Florida that hired and fired a guy in a San Jose at one point (thus transforming the scheme into a Silicon Valley startup) and anything good like Anthropic you need permission to invest in them, or you invest in them by proxy. If you want to long OpenAI you then you long Microsoft. If you want to long Anthropic then you long Google. Guess which one the carry traders liked more these past few days?
Yeah, I think people have had enough this time its not gonna fly