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| Good morning, it's Nathan back with you! |
| 🚚 Trevor Milton, the founder of much-hyped hydrogen truck maker Nikola, was indicted this morning on fraud charges. I've interviewed Milton a few times over the years and each time was struck by how bullish he was about his company's prospects. |
| He told me in 2017 that diesel trucks would be dead in 10 years and told the world in 2019 that his company had made the most dramatic breakthrough in the history of battery technology. All of those claims are now being scrutinized amid allegations that Nikola exaggerated the state of its business to investors. |
| But what I remember most about Milton is this Wall Street Journal story on the $32.5 million home he bought: a 16,800-square-foot mansion on a gleaming 2,670-acre plot along the Weber River in Utah. |
| On to our ... |
| 💡 INSIGHT OF THE DAY: Robinhood, the stock-trading platform that appeals particularly to young investors, is poised to go public today. Normally ordinary investors can't put their money into IPOs. That's not the case here. Robinhood – which, by the very nature of its name, has long positioned itself as a platform for the people – is reserving up to 35% of its shares for its app users. As with all things stock related, proceed cautiously. Volatility is a real possibility. |
| 📰 And here are more stories you won't want to miss: |
| 1. Can your employer make you go back to work despite the Delta variant? In a word, yes. But that doesn't mean they will. Check out my story on what to expect. |
| 2. Stimulus money and COVID reopenings made a difference: The U.S. economy grew sharply in the spring, albeit slower than projected. |
| 3. Bicycles have been hard to find during the pandemic: Here's what to look for if you're on the hunt. |
| 4. McDonald's is launching another celebrity-themed meal: This time it's hip-hop artist Saweetie. |
| It includes McNuggets with ... wait for it ... "Saweetie 'N Sour" sauce. |
| I can't decide whether to roll my eyes or get into the drive-thru lane. |
| --@NathanBomey |
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