We have investigated the behavior of two nanotube systems, carbon and boron nitride, under controlled applied voltages in a high-resolution transmission electron microscope (TEM) equipped with a scanning tunneling microscope (STM) unit. Individual nanotubes (or thin bundles) were positioned between a piezo-movable gold electrode and a biased (up to ±140 V) STM tip inside the pole-piece of the microscope. The structures studied include double- and multi-walled carbon nanotubes (the latter having diverse morphologies due to the various synthetic procedures utilized), few-layered boron nitride nanotube bundles and multi-walled boron nitride nanotubes (with or without functionalized surfaces). The electrical breakdown, physical failure, and electrostatic interactions are documented for each system.