Decipher me this: why do investment banks give out loans to these kinds of “startups”? In credit, you don’t get any of the upside if things pan out but you stand to loose a ■■■■ ton if ■■■■ hits the fan. I understand PEs funding these companies but I just dont understand the credit side of the financing.
And yes, Goldman is looking at a 900+ million usd hit 
Do you have a link?
It’s not clear to me what happened, but yahoo finance is suggesting that Goldman’s involvement was a private equity investment not a loan
Goldman Funds Take $900 Million Hit on Northvolt, FT Says
(the FT article is behind a paywall)
The US bank’s private equity funds, which have at least $896 million in exposure to Northvolt, will
write that down in its entirety at the end of the year, the newspaper reported on Saturday.“While we are one of many investors disappointed by this outcome, this was a minority
investment through highly diversified funds. Our portfolios have
concentration limits to mitigate risks,” Goldman said in an emailed statement.Goldman’s holdings made it the second-largest shareholder in Northvolt,