Source: Business Insider
Summary
Mach Industries, led by 22-year-old CEO Ethan Thornton, has secured an additional $300 million in funding. The company is currently developing five autonomous vehicles and has recently completed a significant acquisition. This investment brings the company’s valuation to a reported $1.5 billion.
Our Reading
The launch follows a familiar script.
Mach Industries raises $300 million, because that’s what you do when you’re 22 and running a billion-dollar company. Autonomous vehicles are still a thing, and they’re still being developed. Five of them, to be exact. Acquisition? Check. Valuation? $1.5 billion. Ethan Thornton is still very young and very rich.
This is just the latest iteration of “young genius disrupts industry”.
Author: Evan Null
