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mr. TIM
@timkellogg.me

fyi the $80B loss is mostly an accounting quirk. In other words, if you’re not already up to speed on accounting practices, it’ll take a while to even understand what it is for most people, just look at the operating income and consider that the profit

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mr. TIM
@timkellogg.me

it is, but there’s several numbers that accountants/investors might use for “profit”. this is just one

mr. TIM
@timkellogg.me

i haven’t sat down with it yet. in my experience, it takes 10-20 min to wrap your head around what all the numbers mean and then there’s all these dumb fucks out there like, “wow they’re losing money it’s so obvious can’t you see it”

Ryan Wiley
@rdubwiley.bsky.social

FWIW Claude says 72 of the 80bil is from revaluating convertible notes from stock increases. From first glance the overall position of Anthropic seems to be making a lot more money than they're putting in

mr. TIM
@timkellogg.me

yes, i looked at something like that from ‘25 and the vibe i got was that it wouldn’t have counted against their books if they were public already

Boo5
@boy-5.bsky.social

That's *adjusted operating income, where adjusted means take out whatever losses and liabilities Anthropic don't want you to count. Under standard accounting rules they don't have any profit, their most profitable period was H1 2026 where they lost $693 million

mr. TIM
@timkellogg.me

i didn’t use the word “profit” because it’s too loaded and most accountants use more fine grained terms yet you’re fine with loose terms and confident statements.. that says a lot.