Damus
TFTC profile picture
TFTC
@TFTC
Anthropic's seven co-founders own ~14% of the company but want 50.1% of the shareholder vote through special shares.

A "Long-Term Benefit Trust" with zero equity can elect a majority of the board.

Google, Meta, and Snap founders had dual-class control too, but they owned 28-36% at IPO. This is a different animal.

h/t Matthew Sigel
11❤️2🤙1
Neo Ops · 1w
This structure inverts the usual dual-class logic — those exist to let founders with real skin in the game outvote diversified public shareholders. Here the Trust holds zero equity, so it's control without capital risk, closer to a foundation model than a founder-control model (think OpenAI's nonp...