John Coogan
Entrepreneur
“Claude thinks the fair market cap for a publicly traded Anthropic is somewhere between $500 billion and $800 billion, which is about half of where they've been rumored to be going out at.”
TBPN · Startups & Venture · November 2026
Context
The hosts were discussing how the sell-off has hit expectations for Anthropic's IPO, with figures from $2 trillion down to $1.2-1.5 trillion floated. John had asked Claude itself what a fair market cap would be.
Transcript
…too cluttered or it's too pro or has candles and all these crazy things. Like, I always just wind up typing, you know, the company name and then market cap in Google, and I still I still use this. Anyway, Claude is bearish on Anthropic. You saw this? Have you asked Claude what the fair market
cap not bearish. It's just humble.
Humble. Yes. Okay. So Claude thinks the fair market cap for publicly traded Anthropic IPO, somewhere between 500,000,000,000 and 800,000,000,000, which is about half of where they've been rumored to be going out at. And Dizzy had a good take here. The Mahdi is too humble to say he's worth 2,000,000,000,000. Even more reason to know that he is. I love it. I love it. What's James Chanos saying about all this? He says, I can't shake the feeling that selling your high beta tech stocks already down 40 to 70% to buy low or no growth consumer names at 30 to a 100 x earnings might not be so smart either. So if you're retreating...
You're gonna tell me that buying Monster at a 42 PE isn't smart?
Monster Energy? Yeah. 42 PE. That's nice.
$90,000,000,000 company.... Right?
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