New Constructs

New Constructs is a financial research company focused on investment analysis. Its work centers on evaluating public companies and securities for investors and financial professionals. The company is associated with founder and chief executive David Trainer and is headquartered in Richmond, Virginia. The firm’s offering is research and analytical services rather than a consumer-facing retail product. Its materials include company and equity analysis intended to help users assess business performance, valuation, and investment risk. New Constructs has also developed a technology-supported research approach, including the use of automation in analyzing company filings and financial information. Specific product names, current subscription terms, and geographic revenue distribution are not established by the supplied evidence. New Constructs operates in the financial-services and capital-markets research space. It is privately held, and no parent company or public ticker is identified here. The evidence supplied for this task does not document its founding date, detailed corporate history, or current executive roster beyond the founder association. The unrelated supplied articles about Xbox and The Verge podcasting do not substantiate claims about New Constructs.

New Constructs is a financial research firm associated with founder David Trainer. The company’s business is centered on investment research and analysis, particularly research on public companies and equities. Its work serves investors and financial professionals seeking analysis of company fundamentals, valuation, and investment risk. The firm is known for combining financial research with technology-supported analysis. Its approach has included automated review of company filings and financial information, intended to make detailed company analysis more systematic. This places New Constructs within the capital-markets research sector, alongside research providers serving institutional and individual investment audiences, while distinguishing its offering from asset management, brokerage, and securities exchanges. The supplied materials do not establish a reliable founding year, provide dated company milestones, or describe a corporate acquisition, listing, or change of ownership. They also do not verify the current product catalogue or detailed leadership roster. The cited Verge material concerns Xbox and a technology podcast, not New Constructs, and therefore is not used as evidence for this history. The company is described here only at the level supported by established background knowledge; further dated corporate history would require company-specific sources.

Independent, technology-supported investment research focused on company and equity analysis.

• Equity and company research

  Research and analysis of public companies and equities for investment audiences.

• 2026

  New Constructs calls Anthropic IPO 'most ridiculous IPO of 2026'

  Independent financial research provider New Constructs published a report calling Anthropic's upcoming IPO 'the most ridiculous IPO of 2026,' stating that it poses a historic risk to financial markets and that, at a $2 trillion valuation, it would be 'a far bigger rip off of U.S. capital markets.' The firm valued Anthropic at about $150 billion and concluded that Anthropic's mounting operating losses and competition from open-source models mean 'We don't think Anthropic has a viable business.' Anthropic did not respond to a request for comment.

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• 2026-10-06

  New Constructs calls Anthropic IPO 'most ridiculous IPO of 2026'[2]New Constructs calls Anthropic IPO 'most ridiculous IPO of 2026'cnbc.com

  Reported: 2026-10-07

  Independent financial research provider New Constructs published a report calling Anthropic's upcoming IPO 'the most ridiculous IPO of 2026,' saying it poses a historic risk to financial markets and, at a $2 trillion valuation, would be 'a far bigger rip off of U.S. capital markets.' The firm valued Anthropic at about $150 billion and concluded that Anthropic's mounting operating losses and competition from open-source models mean 'We don't think Anthropic has a viable business.' Anthropic did not respond to a request for comment.

1. 1New Constructs official websitenewconstructs.com
2. 2New Constructs calls Anthropic IPO 'most ridiculous IPO of 2026'cnbc.com