Jeffrey Park: Anthropic should not IPO based on current metrics

Jeffrey Park, Partner and Portfolio Manager at ParaFi Capital, stated that Anthropic should not proceed with an IPO based on current metrics. He mentioned that the power of American capitalism is built on a social contract: if humanity must bear its risks, the public should also share in its prosperity, rather than just footing the bill.

Jeff Park pointed out that Anthropic is valued at $2 trillion but is held by only about 300 private investors. If it goes public, early growth profits will have already gone to a few private holders, while the public will have to bear the risks. In contrast, Meta is owned by over 5,000 institutions and millions of retail investors, with Facebook going public at a $100 billion valuation, allowing the public to share in a tenfold return after the IPO. He also noted that Anthropic's prospectus includes 80 pages of risk factors, warning that its technology could pose "catastrophic or existential risks." He argued that if these risks are real, the company should be partially nationalized rather than sold to retail investors; otherwise, it should remain private and self-finance until it achieves sustainable profitability.