<story><title>Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud</title><url>https://www.cnbc.com/2021/07/29/us-prosecutors-charge-trevor-milton-founder-of-electric-carmaker-nikola-with-three-counts-of-fraud.html</url></story><parent_chain><item><author>makeitdouble</author><text>From my point of view as a peasant without any shares anywhere, multibillion dollar vaporware companies have very little impact. We could argue this investment could have gone into better companies who could have made the world a better place, but it&amp;#x27;s purely hypothetical (the money could have gone to a worse company, or political lobbying as well...). Basically, from afar, it&amp;#x27;s a &amp;quot;rich people lost some money&amp;quot; drama.</text></item><item><author>jdminhbg</author><text>I&amp;#x27;m not sure creating a multibillion dollar vaporware fraud shell company and being a dick on Twitter are comparable sins.</text></item><item><author>anyfactor</author><text>I browse through a lot of niche investing social media groups. One of the more liked posts on a Nikola investment group was, &amp;quot;If &amp;quot;they&amp;quot; cared about the future, the earth and the renewable energy issue, they would let whatever Trevor did slide.&amp;quot;&lt;p&gt;Surprisingly, I saw similar posts about Musk on the Thailand rescuer tweet and the price too high tweet. You are not betting against the fundamentals or the realities of the stock, you are betting against these people.</text></item><item><author>_game_of_life</author><text>This should not be surprising to anyone. Arstechnica has followed Nikola&amp;#x27;s terrible and obvious fraud(s) for years now:&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2021&amp;#x2F;02&amp;#x2F;nikola-admits-to-making-inaccurate-statements-under-disgraced-founder&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2021&amp;#x2F;02&amp;#x2F;nikola-admits-to-making...&lt;/a&gt;&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2020&amp;#x2F;12&amp;#x2F;nikola-stock-craters-after-cancellation-of-major-garbage-truck-order&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2020&amp;#x2F;12&amp;#x2F;nikola-stock-craters-af...&lt;/a&gt;&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2020&amp;#x2F;09&amp;#x2F;nikola-patented-a-stolen-truck-design-tesla-claims-in-legal-response&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2020&amp;#x2F;09&amp;#x2F;nikola-patented-a-stole...&lt;/a&gt;&lt;p&gt;And many more...&lt;p&gt;The speculation around this stock has been insane for many years now:&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2020&amp;#x2F;11&amp;#x2F;nikola-stock-soars-after-confused-investors-think-gm-deal-has-closed&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2020&amp;#x2F;11&amp;#x2F;nikola-stock-soars-afte...&lt;/a&gt;&lt;p&gt;Top quote: &amp;quot;The market can remain irrational longer than you can roll your eyes at it.&amp;quot;</text></item></parent_chain><comment><author>simonh</author><text>I don&amp;#x27;t think you can discount the fact this money could have been used more productively that easily. It could have funded a lot of jobs for ordinary working people and developed new technology. That&amp;#x27;s an awful lot of good that didn&amp;#x27;t get done. I can&amp;#x27;t point to the working people that lost out from this, but they do exist.&lt;p&gt;It&amp;#x27;s not like if without Nikola all of this money would have gone to one other thing. Sure some of it might have got wasted, but realistically most of it would have gone to productive uses.</text></comment>
<story><title>Grand jury indicts Trevor Milton, Nikola founder, on three counts of fraud</title><url>https://www.cnbc.com/2021/07/29/us-prosecutors-charge-trevor-milton-founder-of-electric-carmaker-nikola-with-three-counts-of-fraud.html</url></story><parent_chain><item><author>makeitdouble</author><text>From my point of view as a peasant without any shares anywhere, multibillion dollar vaporware companies have very little impact. We could argue this investment could have gone into better companies who could have made the world a better place, but it&amp;#x27;s purely hypothetical (the money could have gone to a worse company, or political lobbying as well...). Basically, from afar, it&amp;#x27;s a &amp;quot;rich people lost some money&amp;quot; drama.</text></item><item><author>jdminhbg</author><text>I&amp;#x27;m not sure creating a multibillion dollar vaporware fraud shell company and being a dick on Twitter are comparable sins.</text></item><item><author>anyfactor</author><text>I browse through a lot of niche investing social media groups. One of the more liked posts on a Nikola investment group was, &amp;quot;If &amp;quot;they&amp;quot; cared about the future, the earth and the renewable energy issue, they would let whatever Trevor did slide.&amp;quot;&lt;p&gt;Surprisingly, I saw similar posts about Musk on the Thailand rescuer tweet and the price too high tweet. You are not betting against the fundamentals or the realities of the stock, you are betting against these people.</text></item><item><author>_game_of_life</author><text>This should not be surprising to anyone. Arstechnica has followed Nikola&amp;#x27;s terrible and obvious fraud(s) for years now:&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2021&amp;#x2F;02&amp;#x2F;nikola-admits-to-making-inaccurate-statements-under-disgraced-founder&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2021&amp;#x2F;02&amp;#x2F;nikola-admits-to-making...&lt;/a&gt;&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2020&amp;#x2F;12&amp;#x2F;nikola-stock-craters-after-cancellation-of-major-garbage-truck-order&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2020&amp;#x2F;12&amp;#x2F;nikola-stock-craters-af...&lt;/a&gt;&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2020&amp;#x2F;09&amp;#x2F;nikola-patented-a-stolen-truck-design-tesla-claims-in-legal-response&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2020&amp;#x2F;09&amp;#x2F;nikola-patented-a-stole...&lt;/a&gt;&lt;p&gt;And many more...&lt;p&gt;The speculation around this stock has been insane for many years now:&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2020&amp;#x2F;11&amp;#x2F;nikola-stock-soars-after-confused-investors-think-gm-deal-has-closed&amp;#x2F;&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;arstechnica.com&amp;#x2F;cars&amp;#x2F;2020&amp;#x2F;11&amp;#x2F;nikola-stock-soars-afte...&lt;/a&gt;&lt;p&gt;Top quote: &amp;quot;The market can remain irrational longer than you can roll your eyes at it.&amp;quot;</text></item></parent_chain><comment><author>xapata</author><text>What do you think funds our union pension plans?</text></comment>