Nikola builds two things: 1) a network of hydrogen refueling stations and 2) Semi-trucks powered by hydrogen + electricity.
CORRECTION: Nikola builds NOTHING in the actual physical world. It has demo’d a capability to make billions of dollars of equity market cap appear out of thin air based on the whimsical fantasies of its conman, accused sexual predo-guy founder and a prototype of a hydrogen fuel-cell powered semi capable of rolling downhill at the speed of gravity. It’s most valuable asset at the moment is ~$7B of equity market cap it has waiting to be vaporized when it proves itself incapable of building the two things on which the success of its business plan relies: 1) a network of hydrogen refueling stations and 2) Semi-trucks powered by hydrogen + electricity
Yet at the same time, you have to assume Girsky, GM, and Bosch are not idiots. Their previous experience lends credibility and they did diligence before taking Nikola public.
CORRECTION: Never put your own capital at risk based on research or due diligence allegedly carried out by a third-party with which you are unaffiliated. You have to assume Girsky, GM, and Bosch ARE idiots (see Theranos). Their previous experience could easily contribute to overconfidence and Girsky had the call to action of a blank check to do a deal (ANY DEAL!). GM could then have gained confidence in the apparent stamp of approval from their former Head of Europe and suddenly its a case of everyone thinking someone else must have at least confirmed Trevor Milton had a high school diploma and a Head Scientist that actually knew some science instead of his younger brother.
Thanks Pat! Good point. I couldn't would as you as I didn't want to get hit with a potential libel lawsuit on this one. Nikola has been suing folks left and right! Glad you read between the lines.
Here’s two small edits I’d suggest to this piece:
Nikola builds two things: 1) a network of hydrogen refueling stations and 2) Semi-trucks powered by hydrogen + electricity.
CORRECTION: Nikola builds NOTHING in the actual physical world. It has demo’d a capability to make billions of dollars of equity market cap appear out of thin air based on the whimsical fantasies of its conman, accused sexual predo-guy founder and a prototype of a hydrogen fuel-cell powered semi capable of rolling downhill at the speed of gravity. It’s most valuable asset at the moment is ~$7B of equity market cap it has waiting to be vaporized when it proves itself incapable of building the two things on which the success of its business plan relies: 1) a network of hydrogen refueling stations and 2) Semi-trucks powered by hydrogen + electricity
Yet at the same time, you have to assume Girsky, GM, and Bosch are not idiots. Their previous experience lends credibility and they did diligence before taking Nikola public.
CORRECTION: Never put your own capital at risk based on research or due diligence allegedly carried out by a third-party with which you are unaffiliated. You have to assume Girsky, GM, and Bosch ARE idiots (see Theranos). Their previous experience could easily contribute to overconfidence and Girsky had the call to action of a blank check to do a deal (ANY DEAL!). GM could then have gained confidence in the apparent stamp of approval from their former Head of Europe and suddenly its a case of everyone thinking someone else must have at least confirmed Trevor Milton had a high school diploma and a Head Scientist that actually knew some science instead of his younger brother.
Thanks Pat! Good point. I couldn't would as you as I didn't want to get hit with a potential libel lawsuit on this one. Nikola has been suing folks left and right! Glad you read between the lines.