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Courtesy of Rivian
Rivian Recalls Basically Every Vehicle It Has Ever Made
David Shultz
David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.
On Friday evening, Rivian Automotive announced a recall on nearly every single vehicle it has produced so far.
According to documentation filed with the Nation Transportation and Highway Safety Administration, “The fastener connecting the front upper control arm and steering knuckle may have been improperly tightened … A loose steering knuckle fastener could separate, causing a loss of vehicle control and increasing the risk of a crash.”
The recall affects 12,212 total vehicles spanning the R1S, R1T and delivery van platforms. In layman's terms, the car’s suspension system has a loose bolt that can make the ride harsher or even result in a loss of steering control for the driver.
While undoubtedly bad news for the EV hopeful, the company has stated that there have been no reported injuries due to the defect. The fix for the problem–essentially just tightening the bolt–also appears to be simple and relatively cheap for Rivian to execute.
For context, recalls are relatively commonplace in the automotive industry. Though it’s also worth mentioning that EV startups have been particularly susceptible to them due to the sheer quantity of new technology and engineering in each car. To that end, Toyota also recently had to pause production on its new EV, the bz4x, over safety concerns related to the wheels coming loose. The Chevy Bolt has also faced its share of recall issues.
Nonetheless, this is Rivian’s third recall since May of this year. The company has previously had issues with airbags and seat belt anchors that required maintenance. Whether these three issues represent a concerning pattern or just normal growing pains for a company that only delivered its first vehicle 13 months ago remains to be seen, but the latest recall has taken its toll on the company’s stock, which is down nearly 8.5% by early afternoon Monday.
David Shultz
David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.
PCH Driven: 75 and Sunny’s Wil Chockley on How to Pitch Your Startup
01:26 PM | January 10, 2022
Courtesy of Will Chockley
On this episode of the PCH Driven podcast, 75 and Sunny venture firm partner Wil Chockley shares his thoughts on skills early-stage founders need and advice on how to give the best pitch possible.
The pandemic quickly changed how the tech world worked, creating an exodus of people from the Bay Area to L.A., Chockley said, as jobs went remote and lockdowns forced people to decide where they wanted to be stuck, at least for the short term.
"I think that influx of new tech blood has really helped the tech scene. But prior to all of that, L.A. was already sort of a robust hub for innovation and the core areas geographically for a few industries like aerospace… And then entertainment," said Chockley.
Chockley is a partner at 75 and Sunny, a venture firm founded by Zillow co-founder Spencer Rascoff, who also co-founded dot.LA. Chockley assesses potential investments; about a third of his time, he said, is spent looking at prospects in proptech, but he's also interested in what he calls “HR tech” or the future of work.
On the fundraising side, Chockley has learned what skills to look out for in founders. The single most important ability, he said, is storytelling. Being able to translate a company’s data while also painting a vision for its future takes craft.
"You are first selling your idea to investors; you're selling your idea then to potential employees when you're looking to hire them. And then you're looking to sell your product or your idea to potential customers. So being able to sell well is being able to tell a story well," said Chockley.
The pandemic, he added, has opened more funding avenues for founders in every city. Zoom video calls have become the norm for the venture capital industry, allowing startups to get funding from investors outside of Silicon Valley and far from their headquarters.
"I feel like everything has merged, so everyone is interacting with everybody. And so, what's happening here in L.A. is really what's happening all over the country," said Chockley.
While making those pitches to investors, Chockley said some things to keep in mind is to be enthusiastic and be receptive to feedback. But also when you introduce the problem, your product is the solution.
Click the playhead above to hear the full conversation, and subscribe to PCH Driven on Apple, Stitcher, Spotify, iHeart, Google or wherever you get your podcasts.
dot.LA Engagement Intern Joshua Letona contributed to this post.
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Jamie Williams
Jamie Williams is the host of the “PCH Driven” podcast, a show about Southern California entrepreneurs, innovators and its driven leaders on their road to success. The series celebrates and reveals the wonders of the human spirit and explores the motivations behind what drives us.
Despite the Critiques, Gen Z Swears by Influencer Marketing
05:05 AM | February 15, 2023
@DixieDamelio, @NoahBeck, @Jaclynrjohnson
After an influx of scandals, some reports suggest that beauty influencers have run their course. Just look at the de-influcing trend—people are outwardly expressing frustration with the sheer amount of sponsored content being pushed on every social media platform. Others are questioning the pervasive misleading reviews and undisclosed advertisements.
That said, the money flowing into the industry, paints a different picture. Even as companies slash their marketing budgets, they are still setting aside cash for creators. An Influencer Marketing Hub survey found that 23% of brands dedicated at least 40% of their entire marketing budget to influencer content. And the industry is set to reach $21 this year. A January report from shopping platform LTK, which surveyed 1,018 people, found that both Gen Z and millennials consider seeing a product from influencers as more persuasive than other forms of advertising.
So how do we explain these two conflicting signals?
For starters, Gen Z has historically been hard to reach with advertising, and ads coming from influencers are no exception. A 2022 study from digital consumer research firm Bulbshare found that 84% of Gen Z no longer trust influencers. But consumer trends point to the consistent effectiveness of creator-led campaigns. LTK’s survey found that 79% of Gen Z respondents said their shopping was informed by social media. Brands like the fashion companies Selkie and Shein have seen sales explode after strategic partnerships with TikTok influencers.
That said, a looming recession, does lead people to be more particular about what they buy. Consumer price increases have slightly slowed down, but prices for products like apparel are still high. If people are reducing their spending, some have argued that influencers, who make their living off of other people’s purchasing habits, will lose their social significance.
Again, the evidence suggests the opposite to be true. People working with a budget want to make more informed decisions. When they, for example, walk into Sephora, they want to know that they aren’t going to waste $40 on a bad foundation. This is why influencers aren’t going anywhere: people who hunt for the best product before buying something are going to come across an influencer’s TikTok video or Instagram post. Seeing a video doesn’t always lead to a purchase, but people might find the information persuasive enough.
Another alternative is the rise in micro-influencers—people who have cultivated a more personable sense of trust instead of someone with millions of followers. With more people using TikTok as a search engine, the time seems ripe for influencer marketing to help consumers navigate their course.
Not only did the LTK survey find that 44% of Gen Z’s in-store shopping is informed by creator-recommended products, but they are also more likely to search for product information from an influencer instead of a brand’s website.
Which is to say, even those with disdain for influencer culture have likely been inundated with the trendy products they push. All the evidence points to influencers being one of the most persuasive tools in marketing—and you’d be foolish to think that recent developments are signs of trouble.
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Kristin Snyder
Kristin Snyder is dot.LA's 2022/23 Editorial Fellow. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.
https://twitter.com/ksnyder_db
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