How can I declare a relationship with a SELECT statement?

SELECT i.id, i.name, data.lost, data.created_at FROM iot_device i
    INNER JOIN LATERAL (
        SELECT * FROM iot_device_status s
        WHERE s.device = i.id
        ORDER BY created_at DESC LIMIT 1
    ) AS data
ON true
ORDER BY i.id, data.created_at DESC;