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One of my friends knows someone at Cruise, and he was incredulous about the deal. He believes that most of the $1B will be related to hitting milestones in the future, and isn't just straight cash or equity up front. Does anyone know anything about this?

He basically said they don't have a working product, they have a prototype that works on one specific model, so the idea that this would garner $1B is insane unless there's some earnouts associated with it.

I guess it will be in GM's financial statements so I'll be on the lookout for that.

Earnouts would be the sensible thing to do, but GM might be more dysfunctional and desperate than anyone realizes.

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