This open access book delves into the fascinating story of Nikola Corporation's startup journey in this informative case study, exploring its quick rise and subsequent decline from both a narrative and argumentative standpoint. Nikola, founded by Trevor Milton, initially piqued investors' interest by promising a greener, more sustainable alternative to diesel trucks. However, the company's valuation increase was short-lived, as accusations from a short seller sparked a trust crisis, exposing alleged deceit and casting doubt on the company's technological claims.
This case study focuses specifically on the subtleties of startup communication, underlining the crucial importance of good and trustworthy strategic communication for developing technology enterprises. It delves deeply into the approaches and tools that startups need to handle initial skepticism and data restrictions without risking a crisis. Key takeaways include crafting compelling startup stories while remaining trustworthy, meeting investor information needs in an argumentatively convincing structure, recognizing the risks of blind faith in charismatic founders, and implementing internal checks and balances to prevent deception.
Nikola's narrative is a cautionary tale, with useful lessons for entrepreneurs, investors, and researchers alike. This comprehensive investigation sheds light on the obstacles faced by businesses that rely on developing technologies and lofty promises, making it an essential addition to any entrepreneur's reading list.
Authors: Marius Born
Publisher: Springer Cham
Topics : Start-Ups/Venture Capital, Corporate Communication/Public Relations, Media Studies
Part of the book series: Springer Business Cases (SPBC)
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