<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>twelve40</author><text>This Nikola thing looks pretty weird indeed, but to be fair, Musk&amp;#x27;s name for his company is also not very original, since he (or whoever) also just took the dude&amp;#x27;s name even though he had absolutely nothing to do with him.</text></item><item><author>mikestew</author><text>My first thought when hearing of the company was the J. T. Marlin &amp;quot;brokerage&amp;quot; from the movie &lt;i&gt;Boiler Room&lt;/i&gt;. And for those viewers that didn&amp;#x27;t get the joke, the movie helpfully provides a scene where other brokers in a bar make fun of the uncanny resemblance to &amp;quot;J. P. Morgan&amp;quot;.&lt;p&gt;Bonus point for the ethical similarities between J. T. Marlin and Nikola.</text></item><item><author>api</author><text>Even the &lt;i&gt;name&lt;/i&gt; screams transparent fraud, a ridiculously obvious attempt to associate with Tesla.&lt;p&gt;Weren&amp;#x27;t there VCs who put money into this? What were they thinking? Were they being amoral and hoping to ride this pump and dump or did they actually buy into this shit?</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>majormajor</author><text>Tesla&amp;#x27;s name is somewhat original because the connection between electricty and Tesla is certainly obvious and understandable, yet also rare enough in the US compared to Edison that it wasn&amp;#x27;t already taken.&lt;p&gt;A second company then copying exactly the same association? Different thing entirely.</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>twelve40</author><text>This Nikola thing looks pretty weird indeed, but to be fair, Musk&amp;#x27;s name for his company is also not very original, since he (or whoever) also just took the dude&amp;#x27;s name even though he had absolutely nothing to do with him.</text></item><item><author>mikestew</author><text>My first thought when hearing of the company was the J. T. Marlin &amp;quot;brokerage&amp;quot; from the movie &lt;i&gt;Boiler Room&lt;/i&gt;. And for those viewers that didn&amp;#x27;t get the joke, the movie helpfully provides a scene where other brokers in a bar make fun of the uncanny resemblance to &amp;quot;J. P. Morgan&amp;quot;.&lt;p&gt;Bonus point for the ethical similarities between J. T. Marlin and Nikola.</text></item><item><author>api</author><text>Even the &lt;i&gt;name&lt;/i&gt; screams transparent fraud, a ridiculously obvious attempt to associate with Tesla.&lt;p&gt;Weren&amp;#x27;t there VCs who put money into this? What were they thinking? Were they being amoral and hoping to ride this pump and dump or did they actually buy into this shit?</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>lordnacho</author><text>I thought Musk joined after it had been founded? Did he change the name?</text></comment>