What Anthropic left out of their draft S-1
Buyer, beware of omissions
TL;DR
- Anthropic's draft S-1 filing was released.
- Some versions of the filing omitted Q3 data.
- The omission is relevant to understanding recent demand trends.
- Demand has shifted following the decline of tokenmaxxing and the rise of low-cost alternative models.
Gregory (Scotland Yarddetective): Is there any other point to which you would wish to draw my attention?
Sherlock Holmes: To the curious incident of the dog in the night-time.
Gregory: The dog did nothing in the night-time.
Sherlock Holmes: That was the curious incident.– The Adventure of Silver Blaze
Earlier today, I wrote “Keep an eye out, too, for the details of Anthropic’s S-1, and especially on how much they reveal (or not) about what has happened to demand in recent months, after the decline of tokenmaxxing and the increase in the popularity of low-cost alternative models.”
Minutes earlier (unbeknownst to me at the time) they had dropped their draft S-1. And (in some places) literally left out Q3:
