On Friday (November 12), Geoff Lewis, Co-Founder and Managing Partner of early stage venture capital firm Bedrock Capital, explained how highly popular dog meme coin Shiba Inu ($SHIB) is similar to American electric vehicle automaker Rivian Automotive Inc. (NASDAQ: RIVN).
The Canadian investor Geoff was named as “one of the Top 100 Venture Capitalists in the world by CB Insights and The New York Times.”
Previously, as a Partner at Founders Fund, Lewis was “an early lead investor in the now-mainstream on-demand services, mobile commerce, legal cannabis, FinTech, and labor marketplace sectors; being amongst the first to lead sizable early stage venture rounds in companies including Lyft (NASDAQ: LYFT), Wish, Privateer Holdings (NASDAQ: TLRY), Nubank, and RigUp.”
On November 12, Lewis tweeted:
According to a CNBC report published on the same day, Rivian, “which has almost no revenue, dominated the headlines this week after raising close to $12 billion in its IPO and then watching its market cap swell past $105 billion, leapfrogging Ford and General Motors along the way.”
Two days after the 2021’s biggest IPO, Tesla CEO Elon Musk, who seemed a little annoyed at all the attention that Rivian has been getting this week, took to Twitter to point out that perhaps there might be some irrational exuberance about Rivian’s chances of dominating the electric vehicle market in the U.S. within the next few years:
According to data by CryptoCompare, currently (as of 20:20 UTC on November 14), $SHIB is trading around $0.00005235, up 1.63% in the past 24-hour period:
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