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Bad Bets

by The Wall Street Journal
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About the show

Bad Bets unravels big-business dramas that have had a big impact on our world. In Season 2, we delve into the story of Nikola founder Trevor Milton, who promised a future of zero-emission trucks but was taken down by a ragtag bunch of whistleblowers and short sellers. Season 2 is hosted by Ben Foldy.

Latest episodes

  • The Unraveling of Trevor Milton, Ep 6: “The Truth and the Whole Truth"

    November 11, 2022 · 32 min

    Trevor Milton assembled a high-powered legal team to defend himself against federal fraud charges. At the same time, whistleblowers and Nikola executives were ready to testify against him. In our season finale, we go inside Milton’s trial…

  • The Unraveling of Trevor Milton, Ep 5: “Trouble for Troublemakers”

    November 4, 2022 · 42 min

    As investors and General Motors bet on Trevor Milton’s vision, the short sellers at Hindenburg Research revealed that the company he founded, Nikola, wasn’t all that it seemed. The allegation that Nikola rolled its truck down a hill for a…

  • The Unraveling of Trevor Milton, Ep 4: “Not Appointed Us to Wrath”

    October 28, 2022 · 43 min

    After it began trading in 2020, Nikola was a hot stock—and Trevor Milton was a newly minted billionaire. But in the background, people from Trevor’s past were finding each other and sharing their experiences. In this episode, we talk to…

  • The Unraveling of Trevor Milton, Ep 3: “Paul Echo Mango”

    October 21, 2022 · 48 min

    A jury has convicted Nikola founder Trevor Milton in his federal fraud trial. To better understand what led up to this moment, we hear from some of the engineers Nikola hired to help make Trevor’s idea of a zero-emissions semi truck a…

  • The Unraveling of Trevor Milton, Ep 2: “No Good Deed”

    October 14, 2022 · 40 min

    Trevor Milton had a knack for pitching people to invest in his ideas. He raised millions for his early business ventures by making big promises, often to inexperienced investors including friends and members of his church community. In…

  • The Unraveling of Trevor Milton, Ep 1: “Hey, Buddy”

    October 7, 2022 · 37 min

    Trevor Milton sold a promise—a zero-emissions semi truck that could revolutionize the trucking industry. He also sold himself as the visionary founder capable of delivering on that promise. In this episode, we take you back to Trevor’s…

  • Introducing Bad Bets Season 2: The Unraveling of Trevor Milton

    September 16, 2022 · 3 min

    Bad Bets, a podcast series from The Wall Street Journal that unravels big-business dramas that have had a big impact on our world, is back for Season 2. This season, we delve into the story of Nikola founder Trevor Milton. He took his…

  • Enron, Ep 8: Vigilance and Skepticism

    November 30, 2021 · 30 min

    Enron was a giant, and its collapse was historic. The company's downfall disrupted energy markets, pushing other power companies into bankruptcy. It prompted hearings by nearly a dozen congressional committees, and it inspired major…