Anthropic plans equity-backed fund for workers as IPO nears
Original title: Anthropic plans fund for workers threatened by AI, Musk counters with SpaceX shares for children
The fund would be a wholly owned LLC, and extra share grants stay at the board's discretion.
Anthropic says it will set up a fund for workers threatened by AI, beyond an existing $200 million commitment to study labor-market effects. For every 50 percent the valuation rises above a baseline, the fund could receive another two percent of shares, but those top-ups are not locked in. The structure is a wholly owned LLC rather than a nonprofit, while the company prepares an IPO that reporting says could raise up to $100 billion. Elon Musk said on X he plans to give SpaceX shares to US children; he did not explain how.
Unconfirmed: Valuation triggers, fund governance, the IPO size, and Musk's distribution plan are unconfirmed or discretionary.
- Anthropic says about 20 percent of its equity is directed to the public good.
- The co-founders pledged 80 percent of their shares when the company started.
- Anthropic promises the capital will not fund lobbying or political donations.
- After the IPO, founders would hold 50.1 percent of votes on major decisions.
- Musk cited about 72 million US children and a total of about $10.5 billion.
- Countries
- United States
From the original article
3 min read at the-decoder.com
Anthropic wants to put five percent of its shares into a new public benefit fund that will also look into direct payments to workers at risk of losing their jobs. The fund is a company-owned LLC, so Anthropic keeps control of it as a possible IPO approaches. By offering the option of direct payments, Anthropic goes further than its competitors.
By Maximilian Schreiner · the-decoder.com
A short excerpt; the article and its images belong to the publisher. Summary, key facts and assessment above are AI-written from the article and can be wrong.