1123581321
4 hours ago
This is a non-story; for those who haven’t read them, prospectuses include every potential risk under the sun. There will be risks that never make the news alongside the exciting backlash.
dofm
4 hours ago
“Everyone hates us and the very fundamentals of what we are promising, will fight to prevent us establishing infrastructure, may pass laws to limit our activities in their states, and will extend that hatred to our major investors, potentially materially damaging their businesses” is not a common thing in an IPO prospectus, I imagine, for quite obvious reasons.
But that is the gist of the situation is it not? If it’s an honest statement, it is going to say something like this.
Which prospectus got close to anything like this? People hate SpaceX products less.
jryle70
3 hours ago
"Everyone hates us but they can't have enough of us. Our revenue can't stop rising"
Anthropic's credit line is now $10B - [0], and the IPO is expected to beat or match SpaceX - [1]
[0] https://finance.yahoo.com/technology/ai/articles/anthropic-p...
[1] https://www.bloomberg.com/news/articles/2026-08-20/anthropic...
nozzlegear
2 hours ago
This doesn't really refute what they said. The fact that they make a lot of money doesn't mean the public doesn't hate them or that they won't find themselves facing anti-AI backlash in the near or far future.
jryle70
an hour ago
Huh? "Everyone hates us and the very fundamentals of what we are promising"
First of all everyone? Based on what?
Second of all "they hate our guts and the core of what we're doing (fundamentals), but they can't have enough of us". Are you sure the society (everyone) is that self loathe or HN is in a giant bubble?
AI clearly causes disruption, anxiety, uncertainty, and will be negative for certain groups, just like anything with major impacts in the history. But hate by everyone? people who consider themselves smart and well informed should really be more objective and level headed.
dofm
3 hours ago
Not what we are discussing.
jmalicki
3 hours ago
Uber and Airbnb both had similar risks in their S1s, for obvious reasons.
dofm
3 hours ago
I was thinking maybe Uber but I was not sure it could have been that bad. They would have had states pushing back but against a very popular product with users.
But Airbnb, good point: they would have talked about the risks of states curtailing their businesses.
It’s still a very unusual level of hatred, I would say.
cavem0nkey
3 hours ago
I think there’s a genuinely huge divisive opinion on AI companies. We don’t see this due to our particular industry echo chambers but really the majority of society has bigger problems and this offers them no solutions and threatens to take their lifelines away.
Divisive technology leads to hate. Flock as well which is an us and them. Same mindset.
We are not as popular as we think we are. I know which side of the fence I want to be on.
jmalicki
3 hours ago
Uber called out that they were aggressively doing an end run around both taxi licensing AND minimum wage laws and facing significant pushback on both fronts, among many other risks.
cavem0nkey
3 hours ago
And both have been damaging to society. And are getting fined and chased out of certain countries.
Why would you throw investment in this unless you’re just leveraging the growth in the time it takes for regulatory issues to appear? Which is terribly unethical.
Wall to wall bastards. I’d rather die poor than contribute to the further decline of society.
dofm
3 hours ago
They have but this reply was a fully fair answer to my point; perhaps there are more.
bragr
3 hours ago
I'm sure you can find similar stuff in the prospectuses of many controversial companies spanning oil, cigarettes, alcohol, cannabis, adult entertainment, guns, gambling, defense, etc... Anything someone is trying hard to ban.
newsomix9xl
3 hours ago
Why is AI in the category of oil, cigs, and beer? Its software ....
dragontamer
3 hours ago
The electricity usage is off the charts. Every place that gets a data center has their electricity prices go up.
Consumers are now fighting to stop data centers from coming into their hometowns. It's not like Data centers have lots of jobs that benefit a community anyway. It's basically a building that eats a local city's resources and gives barely anything back in return.
At best, an AI data center is a year job for the local blue collar workers. A temporary benefit at best, while the price of electricity rises will negate any local benefits by a long shot.
Plus water and noise, and other such issues.
newsomix9xl
an hour ago
The electrical price argument I find unconvincing.
If this is a shortage of electrical capacity the data center didn't arrange that. I'm pretty sure they want plentiful cheap electricity.
And the data center doesn't set the price: that's the utility and regulators.
Yet the consumer is blamed for poor regulation and low supply?
ToValueFunfetti
3 hours ago
Just read this interview[1] the other day that contends that the blue collar workers, or at least their union leaders, are thrilled about the data center boom. There are loads of these projects underway and they show no sign of stopping, so the fact that it's only work for a few years per building hardly matters. Plus, the pay is great because the projects have to fight each other for labor. It also says that localities competed for these projects because of the substantial tax revenue they'll bring in for the communities.
Separately, while electrity usage is a valid concern with respect to pollution, data centers are not really driving electric costs up for residents, with (maybe?) a couple exceptions. Noise is likewise a non-issue by-and-large with (definitely existent) rare exceptions. And the water usage issue is totally invented; data centers use a tiny fraction of the water other industries that would otherwise occupy industrially-zoned land use.
You didn't mention it, but the interview also contends that the "this will take our jobs" angle that gets passed around here as a reason isn't on anybody's mind.
Instead, it seems that the AI companies used NDAs to prevent localities from efficiently pricing their deals. That's obviously sketchy on its own and worthy of attack, plus as a bonus it prevents governments from making statements to clarify that the populist narratives that surround the things and are, bluntly, false.
[1] https://www.natesilver.net/p/why-does-everyone-hate-data-cen...
nozzlegear
2 hours ago
This is a very long interview, and I really don't think it's as rosy for AI as you're painting it. Jasmine makes it clear throughout that people are very concerned about data centers in their areas, and AI in general.
From the comments on that post, Rachel says:
> With all due respect to Nate and Jasmine I think they are overthinking why people hate data centers - it’s a fairly direct answer. People hate data centers because they are a tangible manifestation of a technology that is expected to take away their jobs and lifestyle, mess with their societal place and sense of self, and uglify their neighborhoods and the natural world, all while providing little obvious benefit to the regular person and the tantalizing prospects of all the weird elites they hate the most becoming brains in a jar who lord over them forever.
Bingo.
ToValueFunfetti
17 minutes ago
I read that comment as well at the time and was taken aback. After such a lengthy discussion where Jasmine went and talked to the people doing the disagreeing over multiple weeks and reported her findings, Rachel replies that no, this is wrong, her presumably pre-existing belief is correct, and she cites nothing at all in support of this. Due respect seemed lacking despite claims to the contrary.
Likewise, I am taken aback that you, having apparently read this lengthy interview to find it in disagreement with my summary, elected instead to quote Rachel's unsupported comment dismissing the whole thing. Why not just quote the journalist disagreeing with me instead of some rando disagreeing with her? Does Rachel have a reputation that I'm unaware of?
dofm
3 hours ago
I think that was maybe a rhetorical question, but that indeed sums it up.
jmalicki
3 hours ago
Because oil, cigs, and beer don't create the existential threat to the human race that Anthropic is trying to claim it creates.
Yes, it is software, something more powerful and thus potentially more harmful than any of the above physical products.
bragr
3 hours ago
Social media and gaming companies probably have it too
seattle_spring
3 hours ago
Is your comment meant to be making fun of the people who think AI is doing no harm?
The world is considerably worse because of AI than the effects of beer and cigarettes. No, I'm not joking.
montagg
3 hours ago
The non-story part is that they would include this risk even if it were 5 people.
sumeno
3 hours ago
I could easily find 5 people who hate SpaceX and yet that wasn’t mentioned as a risk
I think you’re going to have to provide evidence that this is a commonly documented risk
jmalicki
3 hours ago
"Our AI products and X platform are subject to complex and evolving U.S. and foreign laws and regulations regarding privacy, cybersecurity, data use, data combination, data protection, content, AI, competition, youth protection, safety, consumer protection and notification, advertising, e-commerce, sanctions, export controls, and other matters. Many of these laws and regulations are subject to change and uncertain interpretation, and we could be required to make changes to our products and business practices, and be exposed to monetary penalties, increased cost of operations, declines in user growth or engagement, or loss of customers, or other harm to our AI products and X platform. "
"Certain of our AI products, including Grok, offer features or modes designed to generate more candid, direct, or less reserved or irreverent outputs, such as “Spicy” Imagine Mode and “Unhinged” Voice Mode. These features are intended to provide users with greater flexibility and control in how they use our tools. Because these modes may be more irreverent and harsher than our standard offerings, they present heightened risks, including reputational harm, the generation of potentially explicit content and misinformation or deceptive outputs, potential nonconsensual or exploitative imagery, intellectual property infringement, or content that could be viewed as exploitative, harmful, harassing, abusive, or discriminatory. The availability of such features may also increase the risk of regulatory scrutiny, enforcement actions, litigation, or claims of harm, as well as reputational damage, user or advertiser backlash, or limitations on our ability to distribute or monetize our products in certain jurisdictions or through certain partners."
Or the wonderful:
"We, Mr. Musk, and other companies Mr. Musk is affiliated with frequently receive an immense amount of media attention. The actions and statements of Mr. Musk and his affiliated ventures, whether or not directly relating to us, may draw significant public attention and scrutiny to us and could potentially have a positive or negative impact on our business, relationships with customers and regulators, or stock price."
1123581321
3 hours ago
Thank you. Hopefully a good lesson for the GP to actually read prospectuses before making claims about them!
user
3 hours ago
sumeno
2 hours ago
I should have specified the space part of SpaceX, of course the AI part has the same risk.
1123581321
2 hours ago
Market acceptance risk, geopolitical funding risk, reputational harm risk, for space flight and starlink specifically. The Musk risk section isn’t specific to AI.
user
3 hours ago
Betelbuddy
3 hours ago
One risk they should include is: Our vision is working on a product and business model, that if we succeed, will make our business model and product obsolete.
1123581321
3 hours ago
I expect this will effectively be stated, that their success will depend on developing a succession of products and evolving the company in response to the market climate.
JacobAsmuth
3 hours ago
Not a risk.
Betelbuddy
3 hours ago
Well there is a story, and the story is we are going to have an Anthropic IPO? Believe it when I see it...
mihaelm
3 hours ago
We've known Anthropic has filed for an IPO since early June.