Lucid Motors agrees to go public with $24B valuation
This is dizzying. Over the summer Ford Motor Company had a valuation of &lt;$24B (currently $46B), and yet in comparison to valuations across tech and especially the EV industry, doesn&#x27;t seem far off what the market will accept for promises of tech-driven progress and growth. SPACs in theory seem like a great escape from the horrors of IPOs, but in the current manic climate it&#x27;s all but inevitable that millions of retail investors are going to get fleeced when the SPACs collectively fall short of generating the necessary free cash-flow to justify their collective valuation. This could be years out, though, still, so hopefully there&#x27;ll be some growing into valuations and a gradual come-off instead of a complete meltdown, but history shows we tend to make markets go boom and bust, so don&#x27;t count on it.