Is Aurora’s SPAC merger a genius idea or a cry for help?

Self-driving car startup Aurora is ready to go public in a reverse merger with Reinvent Technology Partners Y, a special acquisition company (SPAC). The merger will give Aurora an infusion of cash to develop autonomous trucks and, later, self-driving passenger cars. Going public is not the norm for companies that don’t have a working and profitable business model. And what makes Aurora’s reverse IPO even more odd is that it comes at a time that the self-driving car industry is struggling with missed deadlines, shuttered projects, unsettled technical challenges, growing cash-burn rates, and loss of public trust. The race to…

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