> there is a lot of collective information going into this valuation

No, there isn't. For example, I would like to legally bet against Anthropic existing as a going concern in five years. Where can I do this? All the information against them is discarded and hidden.

You misunderstand what I mean by “collective”. If you are charitable, the meaning is easy to see. “Collective” as I used it does not mean that everything or every person gets factored in.

Rather than getting sidetracked, I will repeat the central point and question to you again:

> How many people have more information than even an imperfect market-derived quantity?

I’ll restate the point because I don’t think you’re understanding what I mean.

Do you think this funding round was irrational from the point of view of the investors? If so, how can you make such a claim? Do you have information they do not?

It is possible you have some bit of knowledge they don’t, but on balance it is unlikely that you are operating from a position of having more relevant information.