Rivian is following a similar strategy as Tesla when they were perpetually running out of money but were growing rapidly. They don't have a demand problem and

Rivian is following a similar strategy as Tesla when they were perpetually running out of money but were growing rapidly. They don't have a demand problem and they don't need to worry about what "most people" want because more people want what they have right now than they can actually produce cars for. What they have right now is of course a premium car aimed at the most lucrative segment of the market and people are lining up to get one. Their core problem is building more cars and do it cheaper. Scaling production will eventually get them to the point where they become profitable. This requires reducing cost and working on manufacturing processes. That's a capital intensive business and the risk is that capital runs out before the company becomes profitable. That's why the stock is down. Several other EV startups have similar issues. And actually several legacy car manufacturers aren't doing much better but simply have more capital. Quite a few EVs in the market are being sold below cost price right now. Once Rivian nails profitability is when they can start worrying about mass market appeal. They are clearly starting to think about that. Tesla did the same thing until they went mass market with the model 3 and y. And even those had a waiting list. The model 3 ramp up nearly killed the company. But once they fixed that it became a revenue machine. Before that they did the model s in much smaller numbers and the roadster in even smaller numbers. They did not become profitable until just a few years ago. Now they are printing money of course and making millions of vehicles. And they are running circles around their competition in terms of cost. Rivian looks like it might be on track to replicate that success but they have some way to go.