The Unraveling of Trevor Milton, Ep 6: “The Truth and the Whole Truth"

Bad Bets

The Wall Street Journal

News, Business, True Crime

4.8 • 1.3K Ratings

🗓️ 11 November 2022

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Trevor Milton assembled a high-powered legal team to defend himself against federal fraud charges. At the same time, whistleblowers and Nikola executives were ready to testify against him. In our season finale, we go inside Milton’s trial and speak to some of the jurors who held his fate in their hands. Plus, we hear the revelations in a secret recording where Milton talks about his future. Ben Foldy is the host of this season of Bad Bets. Bad Bets is a production of The Wall Street Journal. This season is produced with Jigsaw Productions, in collaboration with Story Force Entertainment. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The business environment for foreign companies in China can be summed up in one word,
0:06.0	challenging.
0:07.0	Here the full Wall Street Journal series, The State of She's Chinese Dream,
0:12.0	all in one place, and WSJ Special Access, only for subscribers and only on Spotify.
0:30.0	From the Wall Street Journal, this is Bad Betz, I'm Ben Fuldy.
0:34.0	Every great financial bubble begins with a mirage.
0:38.0	End-round in World Com made their strategy businesses look sexy.
0:42.0	Lehman Brothers flew sky high on a belief that home prices would only go up.
0:46.0	Theranos, dazzled investors with claims that its technology could change the future of healthcare.
0:52.0	All of those companies collapsed when reality intervened.
0:56.0	A different kind of bubble was happening in 2020.
0:59.0	There was tons of money hunting green investments.
1:01.0	Capital markets were wide open to companies that hadn't sold anything yet.
1:05.0	As added fuel, there were retail investors, trading at home during the pandemic,
1:09.0	eagerly looking for the next stock that could fly them on a rocket to the moon.
1:13.0	And there was Trevor Milton, a man with a promise.
1:16.0	I'm going to build this company, become the most valuable trucking company in the world.
1:19.0	One of the most valuable brands in the world.
1:21.0	One of the top, you know, maybe five or ten greatest growth stories in American history.
1:25.0	Because I know what's coming.
1:27.0	Trevor captivated investors large and small.
1:29.0	And the moment quickly made him very, very rich.
	...

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