Show notes
Anthropic's S-1 shows the company is still burning cash. Kain Warwick and Taylor Monahan say the bigger risk is a founder voting bloc that has to vote together.========================================================Thank you to our sponsor!Put your crypto to work with Nexo: earn daily interest or borrow funds against your assets on one platform trusted by more than 10 million clients.Find out more at Nexo.Geo-restrictions, eligibility and terms apply.========================================================Quick favor: We’re deciding what Unchained does next; new shows, stream times, what’s worth paying for.Our listener survey takes five minutes, it’s anonymous, and I read the write-in answers myself. Everyone who finishes it gets a free month of Premium, Unchained or Bits + Bips, your pick. Open through Sunday, November 8.— Laura========================================================Anthropic has filed its S-1, and Kain Warwick stacks it up against Google's 2004 IPO: $12 billion in revenue in Q2 2026 alone and $8.7 million in revenue per employee. What jumped out at him, though, was governance: 7 founders holding 50% of the voting shares in a side pot that has to vote together.Warwick, Taylor Monahan, and Austin Griffith say crypto has run this experiment before. Monahan calls the founders' sense of moral superiority Anthropic's biggest risk, and Griffith compares the bloc to every multisig that stalled once the incentives to coordinate faded.The hosts also cover how AI models started sending bug bounty disputes to SEAL 911, an AI result that says "ETH is false," Keystone's leaked device signing key, phishing emails sent from Foundation's own mail system, and why Ethereum's Glamsterdam upgrade was cancelled.In what Warwick calls one of the most dangerous times to be in crypto, the safest move may be doing less.Hosts: Kain Warwick - Host of Uneasy Money and Founder of Infinex and Synthetix Taylor Monahan - Co-host of Uneasy Money and Security Expert Austin Griffith - Co-host of Uneasy Money and Builder Enablement at Ethereum FoundationTimestamps🎬 📋 🎙️ 📈 🗳️ 🤖 🚨 🏦 🧮 🎓 🔑 ☎️ 📧 🧘 ⛽ 🐜 Learn more about your ad choices. Visit megaphone.fm/adchoices
