3 ms·

Wait did I see “ Ontario Teachers' Pension Plan” as an investor? Are they putting Canadian public funds into Anthropic?

by j7ake 1y ago

sebzim4500 1y ago
Weren't they also a significant investor in FTX?
- arduanika 1y ago
  Yes. So they indirectly owned some Anthropic through the FTX bankruptcy. I kinda wonder whether they somehow opted to keep their Anthropic stake when the FTX estate sold. Or maybe they bought it at some other time.
  - sidewndr46 1y ago
    was FTX actually liquidated? Last I read the lawyers were just busy paying themselves $500,000 a day
    - arduanika 1y ago
      Yes. Among other things, the Anthropic stake was sold, and repayments have begun. The full process will probably drag out through next year at least. On the lawyer fees...do you expect someone to do it for free? Would you rather hire someone without the expertise? Do you think the crimes are the estate lawyers' fault? Process costs money. You can sneer at the professionals that work hard to keep a lawful society in order, if you like. SBF sure did. Look where that got him.
      - sidewndr46 1y ago
        No, I'm just surprised they actually are making payments. I had no personal stake in FTX, so I didn't closely track it.
OhMeadhbh 1y ago
Yes.
datadrivenangel 1y ago
That's how investments these big get made: pension funds and other similar trusts need returns, and at a certain point if softbank says they have a way to deploy billions of dollars you don't have better options...
noleary 1y ago
Ontario Teachers' is a pretty active principal in venture/growth financings and a major LP to a bunch of funds. That said, venture/growth is a pretty small percentage of their holdings. --- [1] https://www.crunchbase.com/organization/ontario-teachers-pension-plan#financials https://www.crunchbase.com/organization/ontario-teachers-pen... [2] https://www.otpp.com/en-ca/investments/our-investments/teachers-venture-growth/ https://www.otpp.com/en-ca/investments/our-investments/teach...
deleted 1y ago
[deleted]
IshKebab 1y ago
They're a huge VC. Paid my wages for a few years.
xp84 1y ago
To me, 'public pension monies' (more or less, retirement savings from citizens who happen to work for the government) and 'public funds' don't seem like the exact same thing. To me, public funds implies money from the government budget or sovereign wealth funds. Although I admit that the government may be on the hook to replenish any spectacular failures in such a pension plan so in that way, it is somewhat fair -- though I doubt any one investment is weighted so heavily in any pension fund as to precipitate such an event.
- j7ake 1y ago
  Government workers are funded by public money, so public pension monies are funded by public money ultimately.
deleted 1y ago
[deleted]

Wait did I see “ Ontario Teachers' Pension Plan” as an investor? Are they putting Canadian public funds into Anthropic?

by j7ake 1y ago

Wait did I see “ Ontario Teachers' Pension Plan” as an investor? Are they putting Canadian public funds into Anthropic?

sebzim4500 1y ago

Weren't they also a significant investor in FTX?

arduanika 1y ago
Yes. So they indirectly owned some Anthropic through the FTX bankruptcy. I kinda wonder whether they somehow opted to keep their Anthropic stake when the FTX estate sold. Or maybe they bought it at some other time.
- sidewndr46 1y ago
  was FTX actually liquidated? Last I read the lawyers were just busy paying themselves $500,000 a day
  - arduanika 1y ago
    Yes. Among other things, the Anthropic stake was sold, and repayments have begun. The full process will probably drag out through next year at least. On the lawyer fees...do you expect someone to do it for free? Would you rather hire someone without the expertise? Do you think the crimes are the estate lawyers' fault? Process costs money. You can sneer at the professionals that work hard to keep a lawful society in order, if you like. SBF sure did. Look where that got him.
    - sidewndr46 1y ago
      No, I'm just surprised they actually are making payments. I had no personal stake in FTX, so I didn't closely track it.

OhMeadhbh 1y ago

Yes.

datadrivenangel 1y ago

That's how investments these big get made: pension funds and other similar trusts need returns, and at a certain point if softbank says they have a way to deploy billions of dollars you don't have better options...

noleary 1y ago

Ontario Teachers' is a pretty active principal in venture/growth financings and a major LP to a bunch of funds. That said, venture/growth is a pretty small percentage of their holdings. --- [1] https://www.crunchbase.com/organization/ontario-teachers-pension-plan#financials https://www.crunchbase.com/organization/ontario-teachers-pen... [2] https://www.otpp.com/en-ca/investments/our-investments/teachers-venture-growth/ https://www.otpp.com/en-ca/investments/our-investments/teach...

deleted 1y ago

[deleted]

IshKebab 1y ago

They're a huge VC. Paid my wages for a few years.

xp84 1y ago

To me, 'public pension monies' (more or less, retirement savings from citizens who happen to work for the government) and 'public funds' don't seem like the exact same thing. To me, public funds implies money from the government budget or sovereign wealth funds. Although I admit that the government may be on the hook to replenish any spectacular failures in such a pension plan so in that way, it is somewhat fair -- though I doubt any one investment is weighted so heavily in any pension fund as to precipitate such an event.

j7ake 1y ago
Government workers are funded by public money, so public pension monies are funded by public money ultimately.

deleted 1y ago

[deleted]