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GAAP doesn't work here really. the R&D treadmill means you are always betting on next year and its NOT inventory or something you can defer your cost on. It's an upfront R&D expense.

so what happens on year 10 when Anthropic hits a $10B training and only returns $8T? they're cooked

 help



Yeah, that's kind of what I'm wondering about.

It's an interesting story about how even though all metrics show massive losses actually they have massive gains.

Accounting is a rather mature field, so I figure that someone in the past has tried this stunt and there should probably be ways for dealing with it.

Or do they always flame out after losing all the money? Knowing the history here would be informative.




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