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The Rivian portion is interesting because it seems like there's an implied failure mode not being acknowledged, where Rivian pretends to work, absorbs lots of m
by araes 3y ago
The Rivian portion is interesting because it seems like there's an implied failure mode not being acknowledged, where Rivian pretends to work, absorbs lots of money, then says "through some mysterious circumstances we have failed!".
I'd have to read the full bond document, yet it seems like until its all over (and I guess everybody agrees it all equaled out), there's still $15 billion of municipal bonds outstanding. What happens if Rivian belly flops again? Last I saw they couldn't sell a truck for $100,000 without losing money.
Also, how do I do this with my property taxes, so the area and I agree I don't pay property taxes? Guess its an exploit only for a certain caste.
Also, also, thank you @super_linear for the link.
- fallingknife 3y agoIt's up to 15 billion, and they are only issued in tranches when Rivian pays the money to the government entity. It's a tax break, but the state takes no credit risk.
- newZWhoDis 3y ago> Last I saw they couldn't sell a truck for $100,000 without losing money. Is there a term for this kind of short term low-correlation thinking? I’ve seen it with both Amazon and Tesla, now hearing it again with Rivian. It’s like a certain portion of the population is utterly incapable of ingesting a wide variety of information and then contextualizing it.
- hyperhopper 3y agoInstead of insulting people, give the context
- chriscappuccio 3y agothe context is the company isn't profitable in its current form and somehow there is a secret trick that nobody except this guy knows which will reverse that, perhaps in the near future, or perhaps decades from now
- nytesky 3y agoThey lose $20k per truck but will make it up on volume! Seriously what is the origins of the this joke? https://www.theatlantic.com/business/archive/2007/11/we-apos-re-losing-money-on-every-unit-but-we-apos-ll-make-it-up-in-volume/2282/ https://www.theatlantic.com/business/archive/2007/11/we-apos...
- throw_away2 3y agohttps://youtu.be/KodqIPMbyUg?t=53 https://youtu.be/KodqIPMbyUg?t=53
- nytesky 3y agoTHANK YOU! I tried to find that exact clip, but the versions of Change Bank I saw truncated it.
- newZWhoDis 3y agoAll the necessary context for anyone capable of figuring it out is in the OP. If you need more than that, you can stay poor with the rest of the people leaving comments as idiotic as the one I replied to.
- araes 3y agoHonestly, not sure if you're trying to insult me or insult Rivian. The general behavior so common there's an entire joke circling HN about "What's our pivot strategy" "We pivot into pretending to work while absorbing large sums of cash. Then we bail and do it again while the market rewards our confidence." Like the author said. "Love it!" It's correlating on a really common strategy. "Through mysterious circumstances, we have somehow negotiated incredibly horrible supply deals. We now go out of business and run away with your money."