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Anthropic is having a moment in the private markets; SpaceX could spoil the party

Read the full articleAnthropic is having a moment in the private markets; SpaceX could spoil the party on TechCrunch
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What Happened

Glen Anderson, president of Rainmaker Securities, says the secondary market for private shares has never been more active — with Anthropic the hottest trade around, OpenAI losing ground, and SpaceX's looming IPO poised to reshape the landscape for everyone.

Our Take

Anthropic's hot in secondary markets, but secondary prices don't predict product winners — investors hedge OpenAI bets.

SpaceX's IPO is the real variable. A $200B company reshuffles everyone's cap table logic.

Don't confuse fundraising momentum with technical superiority.

What To Do

Watch Anthropic's actual adoption metrics, not their valuation — that's where product truth lives.

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