Anthropic's $160B grant pool raises the bar for hiring GTM leaders in AI
Summary
In a November 10 SaaStr post, Jason Lemkin reads Anthropic's amended S-1: current option and RSU holders own about $216 billion of net value at the top of the IPO range, and 2.05B shares worth ~$160B at $78 are reserved for future grants. With about 5,300 employees, Lemkin says Anthropic can offer GTM leaders liquid equity at a scale private rivals cannot match.
TopCloserR Perspective
The takeaway
If you sell or lead sales at a B2B or AI company, your best people and your next GTM hire now have a public-stock offer to compare yours against. Equity just got harder to use in recruiting and retention.
Who gets the most from this
- In the role
- Lemkin says hiring senior sellers and GTM leaders in AI and B2B now means competing against liquid stock.
- Aspiring
- Directors and first-line managers aiming for VP or CRO. — Ask hard questions about the equity in any offer: the strike price, when you can sell, and how the grant compares to public stock.
- In the role
- Candidates in AI sales may compare offers against public-company equity, which changes how private-company packages get pitched.
- Aspiring
- Recruiters moving into GTM and executive search. — Knowing options, RSUs and their tax treatment well enough to explain an offer will set you apart.
- In the role
- Lemkin expects ex-Anthropic founders to start companies in 2027 and 2028, which means new employers and new competitors.
- Aspiring
- SDRs and BDRs moving up to closing roles at AI companies. — Equity is part of your pay. Learn how to value it before you compare offers.
Put it to work
- Put real numbers on your equity story before the next GTM hireVP of Sales
Write down what a grant is worth, when it can be sold and how it compares to liquid stock, so candidates hear numbers, not hope.
- Value equity offers after taxAccount Executive
Lemkin notes that RSUs and option spreads are taxed as ordinary income. Factor that in when you compare a private grant to public stock.
- Track ex-Anthropic founders as future employersSales Recruiter
Lemkin expects a wave of new startups in 2027 and 2028. Keep a list of who leaves and what they build.
Recommendations
More Careers, Pay & Hiring news