As we watch the story unfold surrounding electric carmaker, Nikola, eyes turned to Jeff Ubben, founder of the activist venture firm, ValueAct. He is defending the company's actions, saying:
"We are not trying to sell trucks, we are trying to sell hydrogen."
Nikola just signed a $2 billion deal with General Motors, and now, the SEC is investigating complaints that the company mislead investors about the capabilities of the technology being developed. For example, Nikola advertises one of their trucks in video, but does not disclose that the vehicle careening down a hill is not actually self propelled.
How will companies change with more activist venture capitalists investing?
https://www.ft.com/content/e5aeb036-fc1a-49d2-970e-63b4879f1973