Dear Reader,
ANTHROPIC IS GOING PUBLIC THIS WEEK.
They want you to buy a piece of a company that lost $80.7 billion in six months. The valuation started the year at $2 trillion. Now it has collapsed to $1.1 trillion. They call that "cooling investor appetite." I call it a warning.
Inside today's issue:
- The Dot-Com Playbook, Reloaded: Wall Street found a new story to sell. Same game. Different year. The numbers do not lie.
- The Number They Hide in Plain Sight: America now spends more on debt interest than on its own military. That is the economy underneath this IPO.
- What Survives When the Dream Factory Closes: While they sell paper, I buy things that exist. The difference matters now.
- Robert Kiyosaki — Perpetual Income Plan: While the market dips, P.I.P. keeps paying. 74 payouts a year from infrastructure that runs regardless of headlines.
Yesterday was Veterans Day.
The country stopped to honor the men and women who served. I want to tell you one number they did not mention at the ceremony.
This year, for the first time in American history, the United States spent more money paying interest on its debt than it spent on its entire military. One trillion dollars in interest. That is $87 billion more than the defense budget. The gross national debt just crossed $40 trillion.
That is the economy underneath the story I want to tell you today.
THE BUBBLE GOES PUBLIC
I have watched every bubble they ran on the American public.
1999: dot-com. 2007: housing. 2020: SPACs. 2026: AI.
Here is what Bloomberg is calling "the biggest IPO of the decade": Anthropic. An artificial intelligence company founded in 2021. They filed to raise $64.4 billion. They wanted a valuation of $2 trillion. They are going to get something closer to $1.1 trillion. And they are desperate to get the deal done before the window closes.
Here is what Bloomberg is not telling you.
Anthropic lost $80.7 billion in the first six months of 2026. On revenue of $16.3 billion. For every dollar this company made, it burned five dollars. The same period in 2025, the loss was $13 billion. The loss grew sixfold in one year.
The valuation started the year at $2 trillion. Then $1.5 trillion after their October investor briefing. Then $1.2 to $1.3 trillion after the Nasdaq dropped 6.4% in a single day. Now $1.1 trillion and still moving.
The Wall Street Journal is comparing this to WeWork. The company is now asking job candidates what they would do if the stock went to zero. Think about that. The company asking for a trillion-dollar price tag also asks its own future employees to plan for worthlessness.
"The gross national debt recently hit the sobering milestone of $40 trillion. We're now spending more on yearly interest costs than on our national defense; debt held by the public exceeds the size of our entire economy."
Here is what this is really about.
The Federal Reserve injected over $2 trillion into the banking system between 2023 and 2024. That money has to go somewhere. It went to venture capital. Venture capital went to AI. AI is now going public before the music stops.
They sold you pets.com in 2000. They sold you Zillow at $90 in 2021. Now they are selling you Claude.
Here is my prediction. Anthropic will get this deal done. It has to. The venture capitalists who put billions in at $2 trillion need an exit. They need retail investors to hold the bag while they walk out the door. That is how every bubble ends. The insiders get the gains. The public gets the story.
I am not buying it.
SPONSORED: PORTER & CO
Porter Stansberry’s Critical New Warning:
HOW TRUMP’S DECEMBER 14 SUMMIT COULD CHANGE THE DOLLAR FOREVER
The President will soon gather the world’s most powerful leaders at his Miami resort – an event that Porter believes could impact every American.
Are you prepared?
THE PLAY
Gold is at $4,053. Silver is at $52.
Those numbers will mean something in ten years. A company losing $80 billion a year may not exist in ten years.
My rich dad had a simple test for any investment. Can it produce income while you sleep? Can it survive a recession? Can a government decree make it worthless overnight?
Anthropic fails all three. It burns capital to survive. It has never generated a profit. It exists entirely on investor confidence in a story.
Gold passes all three. So does silver. So do income-producing real assets, cash-flowing businesses, and anything you can hold in your hand.
While the government spends $1 trillion in interest payments and Wall Street packages the losses of AI companies into IPOs, the B quadrant investor asks one question: who gets paid regardless of which AI company wins?
Not the shareholder of a money-losing startup. The owner of the asset that exists whether Anthropic survives or not.
They are selling paper. Buy things that exist.
To your freedom,
Robert Kiyosaki
Author, Rich Dad Poor Dad
P.S. The Market Dipped. P.I.P. Kept Paying. 74 payouts a year from infrastructure that runs regardless of headlines. 10% yield. 23% average annual gain. Not one position has cut its payout. Watch now.