The tech world has been rocked in recent weeks by allegations that Nikola, the once-high-flying electric automaker, and its founder, Trevor Milton, engaged in deceptive practices, exaggerated technological capabilities, and even faked a video of a truck driving down a deserted road. advertisement advertisement But all those damning claims weren’t uncovered by government prosecutors or investigative journalists. Rather, the story was broken by a small investment research firm that few people outside the investing world had ever heard of: Hindenburg Research. Using techniques mastered by private investigators, the firm was able to spot red flags and potential fraudulent activity missed by Nikola’s giant investors and partners, including GM and Bosch. As a result, its stock has plummeted, Milton stepped down, and the company is now struggling to find partners to build a network of hydrogen fueling stations. Hindenburg’s work demonstrates the power of in-depth investigation and research in the business world, an approach that uncovers fraudulent activity much more effectively than standard due diligence. In his new book, The Modern Detective: How Corporate Intelligence Is Reshaping the World, author Tyler Maroney describes his journey from Fortune magazine reporter to international private eye, showing how private investigative work has grown in… Read full this story
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