On this episode of the Decibel & Docket podcast, Decibel News founder Dave Brooks and entertainment attorney Michael Seville step outside live entertainment to dig into Anthropic’s S-1 filing ahead of its anticipated IPO. Then they head to Los Angeles probate court, where Paris Jackson is challenging Michael Jackson estate executor John Branca’s request for more than $100 million in fees. But first, Dave shares his unhinged thoughts on 'You Can See Everything'

Nathan Fielder’s Elizabeth Holmes Film

The show opens with Dave’s review of You Can See Everything, Nathan Fielder’s three-hour nonfiction film about Theranos founder Elizabeth Holmes and her partner Billy Evans. Dave found it compelling but too long. He says it left him less sympathetic to Holmes, who he argues still refuses to take responsibility and blames the media, including Amanda Seyfried’s portrayal of her in The Dropout. The hosts also discuss why the film may not qualify as a documentary for Oscar purposes, and why Dave sees it as a film about truth and relationships more than a documentary.

Anthropic’s S-1: Revenue, Losses and Risk Factors

The main segment breaks down Anthropic’s IPO prospectus. Brooks walks through the headline numbers: $16.3 billion in revenue for the first half of 2026, a net loss of roughly $80 billion driven mostly by non-cash fair-value changes on convertible debt, and a $42 billion compute facility with Broadcom.

Then the hosts turn to the filing’s unusually stark risk disclosures, including:

• Model misalignment and deception, including testing in which frontier models resisted shutdown
• “Runaway” risk from using Claude to build future Claude models faster than safety work can keep up
• Catastrophic liability the filing says could exceed the capacity of the entire global insurance market
• A dual-class share structure that gives founders majority voting control, alongside a Long-Term Benefit Trust

Seville, a trial attorney, explores how assumption of risk and other legal doctrines might apply to AI liability. He compares the moment to nuclear non-proliferation treaties and credits Anthropic for its transparency and for pushing back on the Defense Department. Brooks counters with climate change as a cautionary tale of global inaction and questions why public shareholders should trust a structure that concentrates control with founders. Neither host plans to buy into the IPO.

Paris Jackson vs. John Branca

In the final segment, the hosts examine Paris Jackson’s probate filing, first reported by Billboard. She alleges that Branca is seeking more than $100 million for two years of work without proper accountings, after missing his own September 15 deadline to file complete financials for 2023 and 2024. She wants the court to cut his compensation from 15% to 10% of the estate’s gross entertainment income, applied retroactively.

Seville explains the difference between executor fees and management fees, why the lack of a comprehensive trust has kept Michael Jackson’s estate in probate court for more than 15 years, and what an earlier $625,000 clawback ruling means for the fight. His takeaway for listeners: get a trust, whether or not you’re wealthy.