and to respond to AudyB (
@AudubonB)as far as the SPAC resurgence...
i don’t have a lot of thoughts on it, really. but i did think about it for a couple days. i didn’t get too deep into the legal/structure aspect, as one can argue about any type of legal structure or corporation, how its run, who takes the fall, who takes the credit, who becomes the bag holders, etc.
it’s one thing to ban the chinese SPACs as they seemed to have a higher percentage of fraud.
it’s another to dismantle the ones involved in the current trend. Investment banking did this to themselves. and make no bones about it, it’s a war for dollars, so they will respond in kind, and have, to spacs and direct listings.
and for example...one of chamath palihipitaya‘a spac’s may indeed turn out to be a dud, one may persevere and provide the avenue to success for a legit startup to turn into a game changing company. it’s still caveat emptor as krug/lodger/jrp or one of them stated in the main thread. but id have more faith in CPs spacs per se, at least from the seemingly authentic manner in which he aspires to allocate his capital...than some of the others. although i haven’t thrown a $ at any of them. just saying. in other words, this current trend has to play out a bit more.
do we immediately judge/suspend them, by outweighing the potential good, with the obvious bad, in such short order? would/do the legit spacs provide a better avenue of success than the typical Inv Bank route? who will have the better track record of identifying and nurturing these startups in an economic and efficient way?
probably need a bit more time to tell. until then, like the old school avenue, there will be some potholes along the way with spacs as well
