Hearted Youtube comments on New Money (@NewMoneyYouTube) channel.
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At some point a few years ago, tech companies (including EV makers) figured out it's easier to sell things to investors than it is to sell things to customers. Just create hype with mockups, prototypes, and of course communications materials. If you actually make things in the real world you have a harder challenge, but your hype machine will probably sell more products than you have, and there's no need for them to cost less than they sell for, as your goal isn't to make money from the customers anyway.
"This is fine" vibes for the initial VCs and management since they can (at least partially) cash out when selling to normal investors, and the VC managers can always claim a win even if their customers didn't make money because, well, look at the hype, it could have.
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