Bolt Founder Ryan Breslow's Billion-Dollar Unraveling forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
After a startup shared its idea for a tech Shangri-La with Bhutan’s royal government, the kingdom disavowed the project. Now, it’s preparing to announce its own “megacity.”
This $30 billion industry is built on a shaky foundation of cheap money, questionable accounting and aggressive claims for federal tax credits. With money no longer cheap, subsidies a matter of politics and swirling allegations of fraud, a collapse could be coming soon.