Anthropic's $42B loss decoded, TRAI's data-free plans, and 185Hz hype
Anthropic's IPO numbers read worse in headlines than on paper, TRAI forces cheaper voice-only recharges, OnePlus chases 185Hz, plus an iPhone car-sickness fix and when to use UPI Lite.
- Long Press · Daily Five29 Sept 202601 / 05
commentaryAnthropic's $42B loss is mostly on paper
The $42 billion loss headline on Anthropic is mostly accounting. Reuters saw the draft IPO prospectus: 2025 revenue came in around $4.6 billion, roughly twelve times the year before, with an operating loss of $8.06 billion. The rest of the loss is a roughly $34 billion non-cash charge on financing that can convert into shares. The parts that would actually worry me are $518 billion in compute commitments and two customers making up nearly a quarter of revenue.
The problem
Frontier AI labs burn cash at a scale nobody has seen, and until now the public has had to guess how Anthropic's business actually looks under the hood.
What changed
Reuters reviewed Anthropic's confidential draft IPO prospectus on September 28. It shows about $4.6 billion in 2025 revenue, an operating loss of $8.06 billion, $7.33 billion spent on compute, around $20 billion in cash and short-term investments, and roughly $518 billion in future infrastructure commitments. The $42 billion net loss includes a charge of about $34 billion tied to financing that could convert into shares.
The catch
This is a draft seen by one outlet, not a public filing, and the reported valuation target above $2 trillion and a listing after the US midterms are still reports. Nearly 25% of revenue comes from two customers who aren't locked into long-term contracts, which is a lot of eggs in two baskets.
What it means for you
If you're reading the $42B figure as proof the AI boom is collapsing, it isn't. Watch the operating loss and those compute commitments instead; that's where the real risk sits.
- Long Press · Daily Five29 Sept 202602 / 05
newsTRAI makes data-free recharge plans mandatory
Paying for data on a SIM you only use for OTPs is about to become optional. TRAI's amendment, dated September 21, says every bundled plan with validity up to 30 days needs a voice-and-SMS-only twin with the same validity and a discount, and operators need at least one plan that renews on the same date each month. The 28-day plan survives, and how big that 'appropriate discount' turns out to be will decide whether this matters.
The problem
Millions of Indians keep a second SIM purely for bank OTPs, calls from family or an old number tied to accounts, and have been forced to buy data they never touch just to keep it alive.
What changed
The Telecom Consumer Protection (Thirteenth Amendment) Regulations, 2026, dated September 21, require Jio, Airtel, Vi and others to offer a voice and SMS-only version of every bundled plan with validity up to 30 days, at the same validity and an appropriate discount. At least one voice/SMS plan must renew on the same calendar date every month. Operators get 30 days from Gazette publication to comply.
The catch
TRAI didn't set a price, so 'appropriate discount' could end up being small. And 28-day plans aren't banned, so the extra recharge a year stays unless you pick the calendar-month plan.
What it means for you
Once the new plans show up in your operator's app, check your second SIM first. That's where the saving is most likely.
- Long Press · Daily Five29 Sept 202603 / 05
tipCar sickness while reading? Your iPhone can help
Reading in a cab and feeling queasy ten minutes in? Go to Settings > Accessibility > Motion > Show Vehicle Motion Cues and set it to Automatic. Your iPhone then puts small dots along the edges of the screen that shift as the car turns and brakes, which eases the mismatch between what your eyes see and what your body feels. It needs iOS 18 or later.
The problem
Motion sickness comes from your eyes locked on a still screen while your inner ear feels every turn and pothole, and a lot of people just give up reading on the commute.
What changed
Since iOS 18, iPhones have Vehicle Motion Cues under Settings > Accessibility > Motion. Animated dots at the screen edges move in step with the vehicle's motion, and on Automatic the phone switches them on when it detects you're in a moving vehicle. You can also add a toggle to Control Centre.
The catch
It helps, it doesn't cure. If you get properly sick in cars, looking out of the window is still the better fix.
What it means for you
Turn it on to Automatic once and forget it; it only appears when you're actually moving.
- Long Press · Daily Five29 Sept 202604 / 05hot take
185Hz on a phone is a spec-sheet flex
185Hz on a phone is a spec-sheet flex. OnePlus confirmed the OnePlus 16 launches October 12 in China with the Snapdragon 8 Elite Extreme Gen 6, a 185Hz display and 185fps support in four games so far, all Chinese titles. Most people can't tell 120 from 144, let alone 185. A gaming phone earns the name by holding its frame rate after half an hour without cooking your palm.
The problem
Phone makers are running out of headline numbers, so refresh rate has become the new megapixel race even though most eyes stopped noticing a while back.
What changed
OnePlus China president Li Jie said at the OnePlus Gaming Conference that the OnePlus 16 launches on October 12. Official so far: Snapdragon 8 Elite Extreme Gen 6, a 185Hz screen, native 185fps in Peace Elite, Arena Breakout, Nizhan: Future and Naruto Mobile, and a three-chip setup for networking, touch and display. A 200MP main camera and 50MP periscope are also teased.
The catch
India launch timing and pricing are not announced, and none of the 185fps games are ones most Indian players open daily. Battery size is still unconfirmed.
What it means for you
If you're shopping for a gaming phone, judge it on sustained performance and heat in long sessions, not the refresh number printed on the box.
- Long Press · Daily Five29 Sept 202605 / 05comparison
UPI Lite vs regular UPI: which one when
Most of your UPI payments probably don't need a PIN. UPI Lite is a small on-device wallet loaded from your bank, with up to Rs 5,000 in balance, Rs 1,000 per payment and no PIN, and your statement shows one top-up instead of forty small entries. The trade-off is that anyone holding your open phone can spend that balance, so keep it low and use regular UPI for rent and big purchases.
The problem
UPI made small payments effortless, then buried bank statements under dozens of Rs 20 debits and made you type a PIN at every chai stall.
What changed
UPI Lite, supported in apps like Google Pay, PhonePe, Paytm and BHIM, lets you load up to Rs 5,000 into an on-device balance and pay up to Rs 1,000 per transaction without a PIN. Your bank statement shows the top-up, not every small spend, and you can set auto top-up. Regular UPI keeps the PIN and much higher limits.
The catch
No PIN means whoever has your phone open can spend the Lite balance. It's also only for small payments, so it's a companion to regular UPI, not a replacement.
What it means for you
Turn on Lite with a low balance for daily small spends and keep regular UPI for anything you'd hate to lose.