Anthropic's leaked S-1, read with Paul Kedrosky, gives Prof G Markets another rare start
Ed Elson led this one without Scott Galloway, and the comment section turned into an accounting class about what counts as a loss.
Prof G MarketsStory of Why this story? The video opened at a pace of 376,123 views a day, 10 times a normal first day on this channel (37,336).
Anthropic’s Financials Revealed — The Losses Are Stunning
Ed Elson held the chair this time. Two days after Scott Galloway's doubts about data centers sent Prof G Markets far past its normal pace, as we reported here, his co-host has done it again. The new episode is built around Anthropic's S-1, the registration filing a company makes before it goes public, in this case one the show describes as leaked. Seventeen hours after it went up, it had passed 320,000 views, about ten times what a new episode on the channel usually draws in a full day.
The guest for the main segment is Paul Kedrosky, managing partner at SK Ventures and a familiar skeptic of the AI spending boom. A short clip cut from the same conversation shows the tone. Elson says the company is expected to list in November at a record $2 trillion valuation. Kedrosky calls that a ridiculous price and reaches for the old poker-table rule: if you look around and cannot spot the sucker, it is you. That clip has gathered only a few thousand views so far. The full episode is where people went.
The rest of the half hour moves quickly. Jay Ritter, who runs The IPO Initiative at the University of Florida and has studied new listings for decades, explains why the smart-ring maker Oura has put off its own debut and what that says about the market for IPOs. Elson closes on Manchester City being found guilty of financial violations.
The comments read like a seminar on bookkeeping. Viewers argue about adjusted figures versus standard GAAP numbers, and one commenter who says they are an auditor weighs in. Several bring up WeWork's famous prospectus as a comparison. The most-liked thread is about whether AI companies should have to pay for the material their models are trained on. Running through all of it is a steady stream of praise for Kedrosky, whose directness is the thing viewers mention most.
Across the whole channel, daily views are running at more than four times their usual level. That makes this the second Prof G Markets episode in three days to lift everything around it, and this time Galloway was not the one in the chair.
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What viewers say
Paul is awesome! Straight to the point and no sugar-coating 👏
@nitro_the_lurkerSee it on YouTubePaul Kedrosky is one of the best guests you guys have had..
@nitroformula05See it on YouTubeI honestly love the first guest, clear head on his shoulders, articulate, very direct sense of humour...
@flipflopzgSee it on YouTube
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- Channel
- Prof G Markets
- Subscribers
- 122,000
- Channel views, pace per day
- 642,140 (on a normal day: 146,439)
- Video published
- September 30, 2026
- Video views so far
- 326,743 (less than a day online)
- Video views, pace per day
- 376,123
The numbers
The figures show a first day well beyond the channel's normal start, arriving only two days after its last one.
💡 Test your knowledge
Anthropic, the company whose filing the episode examines, makes which AI assistant?
Claude is Anthropic's family of AI models and its chatbot. Gemini is Google's, Copilot is Microsoft's and Grok is xAI's.
