Episode Description
In this episode of Run the Numbers, CJ Gustafson talks with Rivian CFO Claire McDonough about financing one of the most capital-intensive businesses in the world. They cover long-term investment decisions, capacity planning, cash management as production scales, lessons from Rivian’s nearly $14B IPO, the risks of over- and under-building, and why federal EV tax credits matter more than most people think.
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SPONSORS:
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Metronome is real-time billing built for modern software companies. Metronome turns raw usage events into accurate invoices, gives customers bills they actually understand, and keeps finance, product, and engineering perfectly in sync. That’s why category-defining companies like OpenAI and Anthropic trust Metronome to power usage-based pricing and enterprise contracts at scale. Focus on your product — not your billing. Learn more and get started at https://www.metronome.com
RightRev is an automated revenue recognition platform built for modern pricing models like usage-based pricing, bundles, and mid-cycle upgrades. RightRev lets companies scale monetization without slowing down close or compliance. For RevRec that keeps growth moving, visit https://www.rightrev.com
Rillet is an AI-native ERP built for modern finance teams that want to close faster without fighting legacy systems. Designed to support complex revenue recognition, multi-entity operations, and real-time reporting, Rillet helps teams achieve a true zero-day close—with some customers closing in hours, not days. If you’re scaling on an ERP that wasn’t built in the 90s, book a demo at https://www.rillet.com/cj
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LINKS:
Claire on LinkedIn: https://www.linkedin.com/in/claire-rauh-mcdonough-5291b946/
Rivian: https://rivian.com/
CJ on LinkedIn: https://www.linkedin.com/in/cj-gustafson-13140948/
Mostly metrics: https://www.mostlymetrics.com
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RELATED EPISODES:
Why Revenue Recognition Is the Next AI Battleground | Dan Miller of RightRev
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TIMESTAMPS:
00:00:00 Craziest Expense Story at Rivian
00:01:22 Intro to Claire McDonough
00:03:09 Capital Intensity and Vertical Integration at Rivian
00:06:44 Raising $14B: How Rivian Planned Its IPO Capital
00:10:22 Capacity Planning and Scaling R2 Production
00:12:13 Sponsors — Tabs, Abacum, Brex
00:15:34 Sweating Existing Capacity vs Overbuilding
00:18:22 Winning EV Adoption from ICE Buyers
00:22:27 How Federal EV Tax Credits Shape EV Pricing
00:26:03 Sponsors — Metronome, RightRev, Rillet
00:29:27 R2 as a Driver of Long-Term Profitability
00:33:14 Supply Chain as the Critical Path to Launch
00:36:53 Product Roadmap as the Anchor for Capital and Headcount
00:39:40 Peloton and Flipkart Lessons from Banking
00:43:42 Biggest Career Mistake
00:44:50 Advice to Younger Self
00:47:19 Rivian’s Finance Software Stack