An electric truck start-up founder goes to trial

Behind the Money

Topher Forhecz

Markets, Investing, News, Banking, Finance, Business, Business News, Crypto

4.4 • 350 Ratings

🗓️ 12 October 2022

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Trevor Milton and his electric vehicle start-up Nikola became Spac darlings in 2020 with his plan to transform the trucking industry. Then it all came crashing down. The FT’s Claire Bushey explains the boom and bust of entrepreneur Trevor Milton’s career and what we can learn from his story.

Clips from Nikola

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For further reading:

Nikola founder Trevor Milton accused of misleading investors at fraud trial

Nikola: the clues in Trevor Milton’s past that investors missed or ignored

US justice department inquires into Nikola fraud claims

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On Twitter, follow Claire Bushey (@Claire_Bushey) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

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Transcript

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0:00.0	Am I missing anything? Is this the right decision?
0:02.0	Could it be a alternative?
0:04.0	Am I too late?
0:05.0	Find clarity in your investment decision-making.
0:08.0	Manage your portfolio for sustainable growth
0:11.0	and regulatory alignment
0:12.0	with the ultimate blend of powerful AI and
0:14.6	industry expertise.
0:16.5	Reduce risk, meet your sustainability goals and push the boundaries of possibilities based on
0:21.1	facts, not opinions.
0:23.0	Clarity AI scaling human decisions through tech.
0:26.6	Visit clarity.
0:28.3	And take action today.
0:30.3	A little more than two years ago, the F.T.'s Claire Bushy hopped on to a conference call to hear
0:37.0	about a new deal that General Motors was announcing.
0:40.4	The day that the GM deal was announced I was on the call with a bunch of other
0:48.4	reporters and I was nervous and intimidated because I had only been writing about
0:58.8	automotive for like nine months at that point.
1:02.0	And so, you know know I'm listening to them to describe this deal and I'm just
1:07.8	thinking like everyone must know something about this that I don't understand. Now, in this deal, General Motors planned to take a $2 billion equity stake in this
1:18.2	fuzzy new company called Nikola.
1:21.9	Just a few months earlier, Nicola had gone public with ambitious plans to
	...

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