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This is the next Theranos. Theranos got walgreen and safeway to sign partnerships with them too. US xpress doesn't have the capital to buy the number of truck N

This is the next Theranos. Theranos got walgreen and safeway to sign partnerships with them too. US xpress doesn't have the capital to buy the number of truck Nkla is claiming. They don't have a working prototype. Nobody on their Management team seems to have the background to invent a cell that they are claiming. Wish the SEC would do their job before the Milton guy hides all his money.

deleted 6y ago
[deleted]
foobiekr 6y ago
Theranos showed that so many, many people who should know better, don't: https://www.cleveland.com/healthfit/2015/03/cleveland_clinic_partners_with.html https://www.cleveland.com/healthfit/2015/03/cleveland_clinic...
CydeWeys 6y ago
The crazy part is how a hacked-together prototype wouldn't even be that hard for a company the size of Nikola. Trucks already exist. So too do hydrogen fuel cells, electric motors, batteries, and high pressure gas tanks. Just take all those components and hack them together into a working first generation prototype truck, and get some on the road. Tesla did a great job of this in its earliest years on far less funding than Nikola has now. They took existing cars (Lotus Elises) and all they had to do was put in batteries and electric engines. You have to walk before you can run, which Tesla did and Nikola seems to be failing to do. Jumping straight to building an entire truck is lunacy.
- ashleyn 6y ago
  Counterpoint: Elon, in retrospect, called the Lotus Elise strategy "super dumb." [1] 1: https://www.forbes.com/sites/jeanbaptiste/2018/09/18/elon-musk-converting-lotus-elise-to-build-the-tesla-roadster-was-a-super-dumb-strategy/#b39b12d540fe https://www.forbes.com/sites/jeanbaptiste/2018/09/18/elon-mu...
  - syspec 6y ago
    That may be true, for practical reasons, but it gave Tesla that "sexy" car image right off the bat. That was probably invaluable, because their next cars kind of looked like boring sedans yet the image persisted
- yongjik 6y ago
  I think you're right from the company's point of view, but I'm still glad that they didn't manage to hack together high-pressure hydrogen tanks into a truck and release it into public roads. Now that's a literal "move fast and break things" stuff.
  - tenpies 6y ago
    I would take a handful of "hacked together" hydrogen tanks on trucks - especially given how safe they are now - over hundreds of thousands of idiots allowing their "full self driving" vehicle to "drive" itself.
sonicggg 6y ago
At least Theranos never went public. Nikola did have to go through its proper SEC fillings before being traded on a stock exchange. How they managed to do it all fraudulently is beyond my comprehension. Would the SEC also be held responsible, these accusations turn out to be true?
- samfisher83 6y ago
  They did a reverse merger, but not sure how much due diligence SEC does until it all goes down. Lets look at Enron, WorldCom, or even Theranos. SEC is also supposed to protect private investors too.
- tenpies 6y ago
  Let's be realistic, the SEC is completely AWOL right now. There is no SEC. A major CEO literally told the SEC to suck his genitalia on Twitter to an audience of millions. The same CEO is going to trial for fraud later this year. This same CEO has committed fraud on Twitter faking a take-public offer that never existed - a separate incident fraud incident from the trial. The SEC's response? A slap on the wrist and silence. Imagine those same actions just 10 years ago. That CEO's career would be over and they would never be allowed to be an officer in a public company ever again. I could go on about this one CEO, but maybe the guy is just untouchable so let's go elsewhere. This is the same SEC that had no issues with Kodak almost performing the first Initial Bankruptcy Offering in history and has yet to move a finger on the incredibly suspicious options packages that board members received days before the government announced a multi-million interest in the company. This is the same SEC that is absolutely blind to obvious Chinese frauds listed on the US market: GSX, IQ, TAL, etc. These companies are faking numbers and their activity is extremely obvious to anyone that looks with even an iota of skepticism. The SEC could assign an intern to look into these companies and gather enough evidence in a week. Many short sellers have even neatly packaged all the evidence and submitted it to the SEC and heard back nothing. My point here is that people need to realise that the market is the wild west right now. The sheriff is gone and unless the media piles on something, the market just won't react.
jonwachob91 6y ago
Theranos isn't Theranos b/c they failed to deliver on a product they said they could build. That is par for the course in startup and innovation. You think you can do something, that's why you go raise money, so you can share your thing with others! Theranos is Theranos b/c they falsified test results. If no test results had been falsified, Theranos would have just been "another" failed startup, and Holmes would have been given another chance with more VC money to try again with a fresh idea. MagicLeap is a perfect example of what Nikola will probably end up as. Raising tons of money to do something new, and dropping the ball on it. I remember reading an early article on Magic Leap about how they figured out how to make something float in mid air, no one is calling on the SEC to investigate them... MagicLeap did some really interesting things, just nothing that consumers can actually use (YET!)

deleted 6y ago

[deleted]

foobiekr 6y ago

Theranos showed that so many, many people who should know better, don't: https://www.cleveland.com/healthfit/2015/03/cleveland_clinic_partners_with.html https://www.cleveland.com/healthfit/2015/03/cleveland_clinic...

CydeWeys 6y ago

The crazy part is how a hacked-together prototype wouldn't even be that hard for a company the size of Nikola. Trucks already exist. So too do hydrogen fuel cells, electric motors, batteries, and high pressure gas tanks. Just take all those components and hack them together into a working first generation prototype truck, and get some on the road. Tesla did a great job of this in its earliest years on far less funding than Nikola has now. They took existing cars (Lotus Elises) and all they had to do was put in batteries and electric engines. You have to walk before you can run, which Tesla did and Nikola seems to be failing to do. Jumping straight to building an entire truck is lunacy.

ashleyn 6y ago
Counterpoint: Elon, in retrospect, called the Lotus Elise strategy "super dumb." [1] 1: https://www.forbes.com/sites/jeanbaptiste/2018/09/18/elon-musk-converting-lotus-elise-to-build-the-tesla-roadster-was-a-super-dumb-strategy/#b39b12d540fe https://www.forbes.com/sites/jeanbaptiste/2018/09/18/elon-mu...
- syspec 6y ago
  That may be true, for practical reasons, but it gave Tesla that "sexy" car image right off the bat. That was probably invaluable, because their next cars kind of looked like boring sedans yet the image persisted
yongjik 6y ago
I think you're right from the company's point of view, but I'm still glad that they didn't manage to hack together high-pressure hydrogen tanks into a truck and release it into public roads. Now that's a literal "move fast and break things" stuff.
- tenpies 6y ago
  I would take a handful of "hacked together" hydrogen tanks on trucks - especially given how safe they are now - over hundreds of thousands of idiots allowing their "full self driving" vehicle to "drive" itself.

sonicggg 6y ago

At least Theranos never went public. Nikola did have to go through its proper SEC fillings before being traded on a stock exchange. How they managed to do it all fraudulently is beyond my comprehension. Would the SEC also be held responsible, these accusations turn out to be true?

samfisher83 6y ago
They did a reverse merger, but not sure how much due diligence SEC does until it all goes down. Lets look at Enron, WorldCom, or even Theranos. SEC is also supposed to protect private investors too.
tenpies 6y ago
Let's be realistic, the SEC is completely AWOL right now. There is no SEC. A major CEO literally told the SEC to suck his genitalia on Twitter to an audience of millions. The same CEO is going to trial for fraud later this year. This same CEO has committed fraud on Twitter faking a take-public offer that never existed - a separate incident fraud incident from the trial. The SEC's response? A slap on the wrist and silence. Imagine those same actions just 10 years ago. That CEO's career would be over and they would never be allowed to be an officer in a public company ever again. I could go on about this one CEO, but maybe the guy is just untouchable so let's go elsewhere. This is the same SEC that had no issues with Kodak almost performing the first Initial Bankruptcy Offering in history and has yet to move a finger on the incredibly suspicious options packages that board members received days before the government announced a multi-million interest in the company. This is the same SEC that is absolutely blind to obvious Chinese frauds listed on the US market: GSX, IQ, TAL, etc. These companies are faking numbers and their activity is extremely obvious to anyone that looks with even an iota of skepticism. The SEC could assign an intern to look into these companies and gather enough evidence in a week. Many short sellers have even neatly packaged all the evidence and submitted it to the SEC and heard back nothing. My point here is that people need to realise that the market is the wild west right now. The sheriff is gone and unless the media piles on something, the market just won't react.

jonwachob91 6y ago

Theranos isn't Theranos b/c they failed to deliver on a product they said they could build. That is par for the course in startup and innovation. You think you can do something, that's why you go raise money, so you can share your thing with others! Theranos is Theranos b/c they falsified test results. If no test results had been falsified, Theranos would have just been "another" failed startup, and Holmes would have been given another chance with more VC money to try again with a fresh idea. MagicLeap is a perfect example of what Nikola will probably end up as. Raising tons of money to do something new, and dropping the ball on it. I remember reading an early article on Magic Leap about how they figured out how to make something float in mid air, no one is calling on the SEC to investigate them... MagicLeap did some really interesting things, just nothing that consumers can actually use (YET!)