Following the Justice Department’s publication of new documents related to the infamous sex offender Jeffrey Epstein, journalists uncovered significant connections between him and Silicon Valley, as well as electric vehicle startups.
The materials describe how the enigmatic businessman David Stern established contacts with Epstein and promoted investments in several EV startups, including Faraday Future, Lucid Motors, and Canoo.
In the new episode of the podcast, a conversation with Kirsten Korosek and another trio of authors touches on what they learned during the investigation and whether these revelations will lead to a broader resonance in Silicon Valley. A preview of the conversation, succinctly laid out in the transcript below.
“There are always people on the periphery who don’t want to be at the center of the investment scene. That’s why I started reviewing these files, partly because many years ago, ten years ago, in my field there were a lot of Chinese investments in this sector.”
Key findings from Epstein files on EV startups
In particular, Canoo, which later went bankrupt, apparently had the most secretive roster of investors: they were not disclosed when the company emerged from the shadows in 2018; the disclosure of investors became possible only after a court case among the executives.
The materials also mention one of Canoo’s close business associates from Germany who, it was reported, had close ties with Epstein; they also mention the son-in-law of a former senior CCP official under the previous leader of China and a major electronics magnate from Taiwan. It is also noted that David Stern was the third co-founder-investor of this company, about whom information was very limited.
The author notes that Stern appeared in contact with Epstein as early as 2008: from the initial outreach with the intent “I want to invest in China. Will you put in money?” to the end of the connections when he was allegedly close to him.
Kirsten Korosek emphasizes: by reviewing declassified materials with new information, one can reassess beliefs about how deals developed and gain a new perspective on the role of hidden players at that time.
This material helps deepen understanding of how transparency or its absence in investments and the role of overt or covert connections shaped the Silicon Valley landscape and influenced the development of electric-vehicle startups at the dawn of a new decade.
