Google Workspace revenues are something like $25bn/q, and that's the entire workspace division, (including enterprise gmail sales, so the productivity suite is meaningfully smaller than that figure). It's taken Google a long time to carve that slice out of Microsoft's entrenched market position. It's not small money, but they'd basically be going to war with two of the largest and most profitable companies in history on their turf.
I don't think they can credibly take that business plan to the market and say it'll be worth $1.75tn. They're all-or-nothing on being in the model business, and everything else is superfluous.
$100B/year in revenue; SaaS so call it 70% gross margin, 30% net, NPV is about $500B.
Not enough if you think that's the only revenue Anthropic could every have. But even if they only peel off $100B NPV, it's incremental to an IPO valuation.
The same one that leaked itself a few months ago?
The value is in the harness! The harness leaked itself
Apple makes great margins on hardware. They are 100% not in the CNC milling business. But their investments at that low level and vertical integration allow for higher margins at the top.
Cursor had... nothing. A minor, indefensible value add to a much larger and wealthier supplier.
No, that would kill them for sure. Or did you mean 'open model progress'?