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Prince Andrew advisor pitched Jeffrey Epstein on investing in EV startups likeLucid Motors
David Stern, an advisor to Prince Andrew, proposed Jeffrey Epstein invest in EV startups like Lucid Motors amidst a funding struggle in 2017. With Silicon Valley booming in electric vehicles, Stern aimed to unblock investment channels. Despite various pitches, including to Faraday Future and Canoo, Epstein ultimately did not invest in any, highlighting his controversial connections to the tech world before his death in 2019.
Key points
- Stern sought to ease Lucid Motors' funding struggle by suggesting Epstein as an investor.
- Epstein was connected with multiple EV startups, including Faraday Future and Canoo, through Stern.
- Legacy automakers and new startups were competing for the booming EV market, influenced by Tesla's success.
- Despite efforts, Epstein did not invest in any of the proposed startups, reflecting on his broader ties in Silicon Valley.
Why it matters
- The push for electric vehicles and autonomous technology is a significant focus as the automotive sector shifts towards sustainable solutions.
- Epstein's prior involvement reflects ongoing concerns about the ethical implications of business dealings in tech and finance.
- The events underline the evolving landscape of investments in emerging technologies, particularly in the context of significant market disruptions through 2025.
This situation underscores the complexities of investment connections in the EV sector, particularly surrounding controversial figures like Epstein, and the critical role advisors play in navigating funding rounds amid competitive technological advancements.