Yes it takes a lot of money to succeed in the auto biz, but that doesn't mean any companies spending a ton of money will automatically succeed. Retail investor

Yes it takes a lot of money to succeed in the auto biz, but that doesn't mean any companies spending a ton of money will automatically succeed. Retail investors/ Media do not have access to critical information it takes(or skill) to evaluate a early stage company like Rivian the kind a VC/PE would have. They are effectively pointing the problem of very early stage companies without revenue or production going for IPOs. Rivian is not even the first large one in the auto space doing a pre-revenue / pre-product IPO, tuSimple did one in April at $8.5 B valuation.