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Worth pointing out, but they took a huge round of funding from SBF prior to his arrest. Not sure what liability they have from the bankruptcy court, and the sur

Worth pointing out, but they took a huge round of funding from SBF prior to his arrest. Not sure what liability they have from the bankruptcy court, and the surrounding clownshow. >The Series B follows the company raising $124 million in a Series A round in 2021. The Series B round was led by Sam Bankman-Fried, CEO of FTX. The round also included participation from Caroline Ellison, Jim McClave, Nishad Singh, Jaan Tallinn, and the Center for Emerging Risk Research (CERR).

SturgeonsLaw 4y ago
Guess the Center for Emerging Risk Research failed to catch the risk that was emerging from their co-investors
- college_physics 4y ago
  You are assuming they want to "catch the risk" but maybe they want to be the risk?
- astrange 4y ago
  This fits the trend where they only care about risks that don't exist like AGI, because that's just so much more interesting than the ones that do exist.
rvnx 4y ago
Just a general reminder (non-specific to this situation, but it can explain many moves): Sometimes funds don't invest because of the product or the company, sometimes it's just to take over another investor's position (or make the other investor's position look better). When things go really wrong, the ultimate solution is to use the company that has had a successful exit to buy a failing company.
kenneth 4y ago
So then perhaps the equity in Anthropic will be owned by the FTX creditors through bankruptcy and will appreciate greatly to the point where it could repay all the creditors. That would be hilarious. For what it's worth, when MtGox blew up, it took years to recover and distribute what Bitcoins were left. Everyone was frozen out, but when they finally got their money back it was worth far more than when MtGox blew up. I have friends who are sitting on millions thanks to this. They probably would have sold on the way up or during one of the crashes. But thanks to the illiquidity during bankruptcy, they're far better off now.

SturgeonsLaw 4y ago

Guess the Center for Emerging Risk Research failed to catch the risk that was emerging from their co-investors

college_physics 4y ago
You are assuming they want to "catch the risk" but maybe they want to be the risk?
astrange 4y ago
This fits the trend where they only care about risks that don't exist like AGI, because that's just so much more interesting than the ones that do exist.

rvnx 4y ago

Just a general reminder (non-specific to this situation, but it can explain many moves): Sometimes funds don't invest because of the product or the company, sometimes it's just to take over another investor's position (or make the other investor's position look better). When things go really wrong, the ultimate solution is to use the company that has had a successful exit to buy a failing company.

kenneth 4y ago

So then perhaps the equity in Anthropic will be owned by the FTX creditors through bankruptcy and will appreciate greatly to the point where it could repay all the creditors. That would be hilarious. For what it's worth, when MtGox blew up, it took years to recover and distribute what Bitcoins were left. Everyone was frozen out, but when they finally got their money back it was worth far more than when MtGox blew up. I have friends who are sitting on millions thanks to this. They probably would have sold on the way up or during one of the crashes. But thanks to the illiquidity during bankruptcy, they're far better off now.