Rivian has made steady progress toward its IPO plans. The electric cars start-up was able to raise $5 million on November 1st, and is expanding its tests of its heavy-duty trucks at a major West Coast port in California. It’s now toying with the idea of a stock-based sale, in what would be a specialization for the Silicon Valley firm. But it would depend on how well its product line translates into the world beyond Silicon Valley. Rivian believes it already has an advantage over big competitors like Tesla Inc., as its battery-powered heavy-duty trucks are already at the forefront of global trade, running the system of highways and a major port. Other electric truck makers have yet to have enough of a foothold. And Rivian already sells its high-price, high-margin trucks directly to customers in Europe and Asia.
I’m not sure what it is, but the government and I definitely don’t get along
The president of the United States has been urging taxpayers and Treasury secretaries to get tough on a company they see as having problems. Walmart, the retail giant, is having trouble fixing its problem. Well, his lawyers can, if Walmart is willing to go to court and admit its mistakes. Well, there’s nothing Walmart could do about that. The president told the Public News Service: “This is a case in which I think [Walmart] has behaved very poorly. They need to restore their reputation and public trust. This has gone on for a long time.” It turns out the company’s “public trust” is shaky when it comes to the Walmart website, where a nice kind of attack ads running against Walmart chief executive Doug McMillon, accusing him of “leaking” against President Trump, is evidently working. Like most people, I haven’t followed the spat, but the Daily Beast story makes it clear Walmart is fully on the defensive.