RJ Scaringe founded Rivian, initially known as Mainstream Motors, in 2009, aiming to revolutionize the electric vehicle market. He pursued a Ph.D. in automotive mechanical engineering at MIT, believing it would increase investor confidence in his venture. Scaringe articulated the challenges of pitching electric vehicle companies due to significant upfront costs and the need for credibility. He emphasized the urgency of establishing trust with investors quickly, bypassing decades of traditional industry experience required for gaining credibility.
RJ Scaringe stated that he pursued a Ph.D. from MIT to build credibility with investors when launching his electric vehicle company, Rivian.
Scaringe believed that having a Ph.D. would enhance his chances of securing funding, noting that he couldn't wait decades to prove his credibility.
On 'Tosh Show', Scaringe expressed that pitching an EV company is challenging due to high prototype costs, making credibility essential for entrepreneurs.
He emphasized the importance of quickly gaining credibility, as he preferred not to spend years in a car company before starting his own business.
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