Anthropic's seven cofounders say trust keeps the company together

Anthropic, the company behind the AI tools many people now use, has seven cofounders. CEO Dario Amodei and president Daniela Amodei say that unusual setup works because the founders trust one another. They spoke on the podcast The Builders, just as the company prepares to go public.

What the founders said

Many people told the Amodeis that starting a company with seven cofounders was a terrible idea. More than five years later, they say it is key to their success. Dario said all seven hold equal stakes and share the vision. He said the founders disagree often on big questions, such as what safeguards to put on an AI model and how to lobby for regulations.

Those disagreements always get resolved, he said, because everyone trusts that the others are honest and trying to get the right answer. He contrasted this with his earlier experience at OpenAI. Daniela said honesty also shapes how leaders treat employees, and reflects how they want the technology to be built.

Who holds the power

The podcast came out one day after Anthropic released its S-1, the paperwork a company files as it prepares to sell shares to the public. Under the governance structure it describes, the seven cofounders will control 50.1% of all shareholder votes. That gives them more voting power than every other shareholder combined.

The founders also hold large stakes and stand to earn billions. Each has pledged to give 80% of their personal stake in the company to charity. The Amodeis together had compensation packages worth around $35 million last year.

The numbers and the risks

• Last year Anthropic had a net loss of $42 billion on $4.6 billion in revenue.
• Five customers drove around a quarter of revenue in the first nine months of the year.
• More than 90 pages of the filing cover risk factors.
• Anthropic warned that a "catastrophic AI-related incident" could overwhelm the entire insurance industry.

What happens next

Anthropic is expected to list on the Nasdaq in November. It is reportedly targeting a valuation of $1.5 to $2 trillion, which could make it the largest IPO ever. Some investing experts worry the market may struggle to absorb another blockbuster IPO.

For anyone who uses Anthropic's tools or may buy shares, the picture is clear. A small group of trusted founders will steer the company, and they will do so while it is losing a lot of money.