[necubi]

The cruise valuation is pretty suspect, as reported by The Information [0].

> When SoftBank agreed to invest $2.2 billion in Cruise, the self-driving unit of General Motors, most of the attention was on the valuation of $11.5 billion. But a closer look shows that could be inflated by terms. SoftBank’s initial $900 million investment in the firm is at a lower valuation of $8.3 billion; it is only if products are ready to be commercially deployed that it has agreed to invest more money at a higher valuation.

With unicorn-scale deals, the topline number is sometimes not reliable, as it may come with high liquidation multipliers or other restrictive agreements.

[0] https://www.theinformation.com/articles/softbank-asserts-mor...