David Sacks: SF feels like 1998 — Anthropic IPO to dwarf all past SF IPOs combined by 4x
ericwdolan · x · 2026-09-06
David Sacks says Silicon Valley is starting to feel like 1998 in the dot-com bubble: SF home prices are surging ahead of the upcoming Anthropic IPO, and the mood is near-euphoric. He thinks it's more 1998 than 1999 since "the peak hasn't come yet." Citing an article, he notes all SF IPOs in history combined equal only about a quarter of the Anthropic IPO's size — implying it will be a 4x wealth-generation event vs. every prior SF IPO. The reposter likened it to the "frenzy euphoria" stage in Ben Horowitz's playbook.
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