Nikola founder Trevor Milton found guilty of fraud

It’s about time. I just can’t believe how fraud of such a scale can happen. Reminds me of Bernie Madoff.

You made a new account to post that?

>Trevor Milton lied to Nikola’s investors — over and over and over again. That’s fraud, plain and simple,

>He faced up to 25 years in prison if convicted on all four counts.

If he would have taken large subsidies, like Musk did, it would've been much harder to jail him. Then he could let his imagination go - promise investors that they will make 100% return on investment per year ("buy Tesla for $30,000 and you make that or more per year renting it as a robotaxi"), promise superfast underground tunnels and deliver insecure tunnel with no ventilation/safety exists, with cars moving at 40 mpg, promise solar roofs, and many other things with absolutely no liability at all.

Nikola is still a $1.3 billion company if you really want your mind blown.

> Hindenburg said the truck was “towed to the top of a hill on a remote stretch of road and simply filmed it rolling down the hill.” It was then used in a video, which Nikola said was created by a third party, in which the truck appeared to be driving on its own propulsion on flat roads.

It's all relative. How much is hype or marketing, and how much is just dishonesty? I think it depends on the field. I mean even the term "AI" is fraudulent whenever it's used, really. But investors who actually do the most basic diligence in their research know the shot. Filming a truck rolling down a hill is pretty dishonest though. I mean trucks aren't a 'concept' they're a real thing already.