Meta and Anthropic valuations compared at $1.5T

The author compares the business models and valuations of Anthropic and Meta at roughly $1.5 trillion, contrasting Meta's secure advertising cash flow with Anthropic's vulnerability in usage-based API revenue. The analysis argues that Meta's core business provides a resilient financial floor even if its speculative AI bets disappoint, whereas Anthropic's API model faces compounding pressures from customer insourcing and model commoditization. Open article →