[sciencegeek]

who gives a hoot

 

[Canyonero!]

Maybe we should start a Go-Fund-Me to help him through these lean times?

 

[J-P (as in plug)]

I'll echo the sentiment that I don't care whether or not anyone gets to call themselves a billionaire, but I have started to wonder a bit about how RJ might be holding up mentally and physically. Last week must have been brutal and today's news that they're getting sued by shareholders for the very action that was meant to fix last week's crisis can't be making it better.

Rivian is sued by shareholder after rolling back EV...

Rivian is being sued by a shareholder who claimed the company misled investors in its initial public offering about how it had mispriced its EVs, leading to the price hikes a few days ago...

www.rivianownersforum.com

 

[Ogooberdgoober]

Got to be resilient to be a company founder/CEO. Elon almost went bankrupt during early years of Tesla.

I think RJ will be just fine…

 

[Chris S]

Rivian shouldn't have gone public yet, and he shouldn't be a billionaire yet, b/c they haven't delivered much of anything yet. Both RJ and Rivian should be richly rewarded if and when they deliver on their vision.

 

[joshtish]

Rivian shouldn't have gone public yet, and he shouldn't be a billionaire yet, b/c they haven't delivered much of anything yet. Both RJ and Rivian should be richly rewarded if and when they deliver on their vision.

Eh, I’m not so sure about that. They were just prepping to ramp up manufacturing and having an influx of $12 billion in cash, not debt, is a great way to make sure you succeed at that ramp-up.

 

[Chris S]

Apparently not, looking at what’s happened since. Being public creates a lot of pressure on short term results, often leading companies to do dumb things that hurt them over the long term.

 

[joshtish]

Apparently not, looking at what’s happened since. Being public creates a lot of pressure on short term results, often leading companies to do dumb things that hurt them over the long term.

And prior venture capital investors generally push for the IPO as soon as possible, too, in order to cash out on their investment. Maybe they could have secured sufficient debt in order to survive a ramp with likely a lot of operating losses, even if they end up with positive cash-flow. But having $$$ in the bank is better than borrowing it, even though you’re trading private pressure for public pressure.

But I don’t know how this particular sausage was made.

 

[NorthernRivian]

Got to be resilient to be a company founder/CEO. Elon almost went bankrupt during early years of Tesla.

I think RJ will be just fine…

What will help the stock to begin rebounding is some major positive news investors can bullish on. Entering another key global EV market is one of them and I know Rivian had plans to enter Europe. China would be a good move as well.

 

[Chris S]

And prior venture capital investors generally push for the IPO as soon as possible, too, in order to cash out on their investment. Maybe they could have secured sufficient debt in order to survive a ramp with likely a lot of operating losses, even if they end up with positive cash-flow. But having $$$ in the bank is better than borrowing it, even though you’re trading private pressure for public pressure.

But I don’t know how this particular sausage was made.

I think it's short-sighted to push for an IPO that soon, as they left a lot of potential return on the table, unless they thought they could inflate the valuation unrealistically by fleecing investors. Just think if they could have held on another 1-2 years once they got production/sales ramped and legions of loyal, happy customer advocates.

I passed on the IPO b/c I thought it was too soon and they were overvalued for not having proven anything. I initially felt some regret when it skyrocketed, but time has proven my intuition was correct.

 

[NorthernRivian]

I think it's short-sighted to push for an IPO that soon, as they left a lot of potential return on the table, unless they thought they could inflate the valuation unrealistically by fleecing investors. Just think if they could have held on another 1-2 years once they got production/sales ramped and legions of loyal, happy customer advocates.

I passed on the IPO b/c I thought it was too soon and they were overvalued for not having proven anything. I initially felt some regret when it skyrocketed, but time has proven my intuition was correct.

Same here. Just been a strategic observe on the sidelines. Over the same time period you would be far better off investing in commodities and typical things that go up during crazy times like these past 2 years.

 

[joshtish]

I think it's short-sighted to push for an IPO that soon, as they left a lot of potential return on the table, unless they thought they could inflate the valuation unrealistically by fleecing investors. Just think if they could have held on another 1-2 years once they got production/sales ramped and legions of loyal, happy customer advocates.

I passed on the IPO b/c I thought it was too soon and they were overvalued for not having proven anything. I initially felt some regret when it skyrocketed, but time has proven my intuition was correct.

I don’t necessarily disagree, but I’m also not fully privy to their books or projected revenues. If they were in need of the liquidity, there are only so many options available to you.

 

[TessP100D]

Rivian shouldn't have gone public yet, and he shouldn't be a billionaire yet, b/c they haven't delivered much of anything yet. Both RJ and Rivian should be richly rewarded if and when they deliver on their vision.

Boy that is spot on.

 

[TessP100D]

Eh, I’m not so sure about that. They were just prepping to ramp up manufacturing and having an influx of $12 billion in cash, not debt, is a great way to make sure you succeed at that ramp-up.

not sure you have thought that through.

 

[Scuppers]

Rivian Founder RJ Scaringe had his network drop to $930 million on Thursday after the stock tanked.

Rivian Founder RJ Scaringe No Longer A Billionaire After Stock Dip

Scaringe’s net worth has dropped 73% since the electric car maker’s IPO in November.

www.forbes.com

Did any of us who put are money down on this EV do it to make him rich, and is that what he is looking to be? I think not, but...he is going to do just fine. Just wait for it.

 

[CommodoreAmiga]

Did any of us who put are money down on this EV do it to make him rich, and is that what he is looking to be? I think not, but...he is going to do just fine. Just wait for it.

Is $930 million not still RICH????