The entrepreneurial world is filled with the corpses of companies that jumped onto the latest fad following by a crash and burn.
In recent memory:
cloud computing
crypto
meat substitutes
EVs
and now...AI
Some of these businesses are fairly easy to get into. A company can develop (and patent) software that, say, make management of cloud computing easier and less expensive and maybe license that product to a larger firm.
But the EV business? Oh my. The capital requirements are in the many billions. From design, testing, certification, manufacturing, building a network of dealers (or captive stores like Tesla), training repair techs, stocking parts. It takes huge investment.
Michery's talent was fooling penny investors into the idea that he could build an EV business and convincing them that the early money would result in untold fortunes.
In the end, DM got the wealth for himself and the ride for shareholders was a total wipeout.
It was entirely predictable.
Market Data 
Markets 
AI
