That's the discussion I WOULD like to see on HN, rather than "omg $81B net loss".
My understanding is the opposite - Anthropic issued debt / liabilities tied to their company valuation, their company valuation skyrocketed, so the value of their liabilities also skyrocketed, resulting in a large accounting loss.
But finance is not my wheelhouse, so I would love to hear this from someone who actually knows what they're talking about.
You are correct. Matt Levine discussed this in more detail in his last column (scroll down to the Anthropic section): https://wallhop.io/https://www.bloomberg.com/opinion/newslet...
Yes, it is analogous to selling covered calls on stock. It’s $72B in “lost profits” that they would have had had they held onto it instead of selling it.
Inclusion of SAFEs makes this IMHO the most plausible explanation.
I do not expect to find that Anthropic invested enough in the SAFEs of other companies to lose $80B on their investments.