This Week in Startups E1090: Nikola Founder Trevor Milton on competing with Tesla, hydrogen over battery, going public as a pre-revenue company & more
Jul 31, 2020
Trevor Milton, founder of Nikola Corporation, dives into the competitive landscape of zero-emission vehicles. He discusses the transition from private to public company, emphasizing transparency and governance. Milton highlights the potential of hydrogen fuel over traditional diesel in freight trucking, sharing a significant $800 million deal for hydrogen-powered trucks. He explores Nikola’s unique manufacturing strategies compared to Tesla, and looks ahead at the company's upcoming hydrogen and battery vehicle models, underlining the importance of sustainability in the automotive industry.
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Dictatorship and Boards
- Dictatorial control can lead to both massive success (e.g., Google, Facebook) and failure (e.g., WeWork).
- The presence of an objective board can help balance dictatorial power.
Educate Investors
- Educate investors about long-term vision to avoid short-term, impulsive decisions.
- Encourage a long-term mindset, similar to Warren Buffett's approach.
Battery vs. Hydrogen
- Nikola offers both battery and hydrogen vehicles, targeting different markets.
- Battery electric trucks work well for shorter ranges (under 300 miles), while hydrogen excels in long-haul, weight-sensitive trucking.