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Waymo closed a $16B round on February 2, which set the post-money valuation at $126B. At the surface, this valuation is a bargain. I think the reason why its not higher is because the risk that Tesla ramps fast in the coming two years.

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Waymo Update: Mgmt reiterated a datapoint from December that they have more than 400k rides a week. At 450k rides that implies growth has increased by 80% over the past 8 months.

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