"There are always people at the edges who don't necessarily want to be front and center in the investment scene. And that was why I started looking through these files, in part because a long time ago, flashback 10 years ago on my beat especially, there was just a ton of Chinese investment in the space. This was before even the rush of EV startups in China that we see today"
"One in particular, this company called Canoo, which is now bankrupt and out of business, had maybe the most mysterious set of investors of all of them. They really were not upfront about it when they first sort of came out of stealth in early 2018. And it frankly took until there was a lawsuit between some people who ran the company near the to"
The Justice Department released documents tied to Jeffrey Epstein that reveal financial and personal connections to Silicon Valley figures and startups. A businessman identified as David Stern cultivated a relationship with Epstein and pitched investments in electric-vehicle companies including Faraday Future, Lucid Motors, and Canoo. Chinese investors and state-owned automakers invested heavily in U.S. autonomous and electric vehicle startups in the late 2000s and 2010s to gain Silicon Valley credibility. Canoo exhibited opaque investor relationships and concealed backers when emerging from stealth in early 2018. Internal disputes and a later lawsuit exposed some investor details and coincided with Canoo’s bankruptcy and collapse.
Read at TechCrunch
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