It never ceases to surprise me when I read news about some start-ups that, shortly after creating them and announcing the products they are going to offer in the future, someone says that they have a market value of several billion dollars.
And all this before selling any product to the market, just with the presentation of an idea and the occasional video about it on social networks. And in addition to a lot of marketing work by the “creator” of the new company.
Today I reflect on the case of the company Nikola Corporation created by Trevor Milton in 2015 to sell electric trucks, and that in a few months some “analysts” assigned it a value of 20 billion dollars. And all based on statements and videos, that is, pure and simple marketing work.
More than 7 years later (in the year 2022), and without having sold any products, the company was declared bankrupt and its creator was taken to trial accused of fraud, and in this year 2023 he has been sentenced to 11 years in prison.
It is clear that investors have been deceived with fraudulent information and have lost their money, and what I do not know, and I always wonder, is what happened to the "analysts" who stupidly and foolishly assigned Nikola the high value that it did not have.
Many hundreds of millions of dollars have been lost, and I am convinced that many “analysts” responsible for such a mess continue to live as if none of this has to do with them, and continue to “analyze” other companies and charge good money for doing so.
When I read in the news the information about new start-ups to which someone assigns market values much higher than other companies that have been offering products in that market for decades, I always ask myself the same question: who are the ones that analyze the value of that new company? And with what objective data do they assign that value?
I am clear that I am not an expert in finance, but I have worked 40 years in the world of industry, and I know how much it costs to move a company forward, so I should distrust the siren song of many “analysts” who sell the skin.of the bear before hunting it.
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