alt Hacker NewsFor those who are not familiar with S-1: this document is incredibly important. this is one of the rare times in the life of a company where it's not allowed, by law, to lie, nor to omit the truth.
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Technically true, but they're still fudging their numbers a bit even in the S-1, such as using "adjusted" operating margins to the tune of 10% when their GAAP (which they truly cannot lie about without ending up in deep shit (in theory anyways, I'm doubtful that they couldn't get away with it if they tried with the current administration)) is actually at negative -4%.
At the same time, an S-1 does not necessarily represent how the company thinks. Risk factors often get reported as “x thinks that y will happen” but the company is actually just describing things they have an obligation to describe, they’re not the risks they’re worried about internally.
Also this is being released under Trump’s SEC, who knows whether being caught lying in an S-1 matters any more.
tell us what you're not telling us, what kinds of lies are common practice and accepted outside of this document in the lifetime of a company then?
Is it just me or is something wrong with the doc starting at the ToC? Its gets super garbled. Everything before that point is Anthropic branding and a Claude generated multi page wall of text
ehh, search "GAAP" and see where they deviate from standard accounting measures. There's plenty of spin in here.
Nothing is respected by this criminal company.
SpaceX claimed a TAM of $28.5 trillion in their S1, a number picked from a hat larger than the 2023 US GDP. Companies can and do lie in their S1 and there are rarely if ever any consequences for doing so.