The past tense of “to lead” is “led”, not “lead”.
I led a horse to water, but I couldn’t make it drink.
Lead baloons go down because they are made of lead. A led balloon will go wherever you lead it.
Now the wrong spelling of “to lose” is loose, I regard that as lost, but now I notice a lot of things being “lead” I have to register my protest!
Interestingly, Led Zeppelin were called Lead Zeppelin, but changed the spelling when too many people thought it mean the Zeppelin that was in front, leading, rather than the one made of lead.