Startup scams are getting out of hand...
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Startup scams are getting out of hand... |
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Video From Jake Tran |
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This Video Uploaded At 07-10-2021 23:37:37 |
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This video is based off of the Hindenburg Research report on Nikola Motors, among other sources, linked below. The views and opinions expressed in this video are based on those sources and do not necessarily reflect or represent the views and opinions held by or its affiliates.
Founder & CEO of Nikola Motors, Trevor Milton has been charged with two counts of securities fraud and wire fraud but has NOT been proven guilty yet. All claims made in this video are mere allegations based on the sources provided. Don’t sue me bro.
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What you’re watching right now is the world’s first ever hydrogen fuel-cell semi truck on the road, thanks to a company called Nikola Motors. The only problem is - this video is fake. It was a fraud designed to swindle investors into dumping more money into this “tesla killer” - allegedly.
These regular car companies were under huge pressure from analysts and shareholders to electrify so their stock could see similar gains. GM entered into a strategic manufacturing partnership with Nikola Motors. But as GM would soon find out - Nikola Motors was far from the saving grace they hoped for.
“I never deceived anyone!” - Nikola Executive Chairman, Trevor Milton. Trevor Milton, the man behind Nikola Motors, has had a sketchy track record to say the least. Tech founders are often criticized for being too ambitious or too optimistic, but according to Hindenburg Research, Trevor took this way too literally.
After Trevor sold his very first business, a security and alarm business, Trevor started a used car sales website that ultimately failed, but it got him into the world of EVs. After dHybrid’s launch, Trevor became the CEO of Swift Transportation. But Trevor abandoned ship and decided to start a new, but not very different, company with his dad, called dHybrid Systems LLC. Two years after starting dHybrid Systems, he sold it to Worthington Industries for $15.9m, giving them almost 80% of the company.
Nikola Motors started a lot like how all of his other business ideas ended, with a lot of stretching of the truth. They started to duct tape together third-party truck parts in an effort to build their first truck.
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