My Rivian bankruptcy thesis is getting stronger.

They now have a market cap of $12.9B with $12B cash on balance sheet meaning their enterprise value is <$1B.

Sad but making cars is hard.

didn’t short it, I’m not a fan of shorting individual co’s

https://twitter.com/sawyermerritt/status/1633228735632625664?s=4

co-founder stelo.com. theoretical cs phd dropout. into math, music, ml, macro, markets, surfing, writing amandhesi.net

/ted | exploring the onchain frontier | surfing @ venice, ca | eating @ gjusta / gjelina

Tesla was Elon's baby though and it was his own money. I doubt that the board of a public co would approve a bailout for a company that's a money incinerator when they only own a small stake.

The market would be very unforgiving to AMZN stock if they did that!

I think there’s a reasonable chance that Amazon will bail them out the same way Elon bailed out Tesla with his own money. If there was no Amazon partnership, I would say game over.