SPAC Wipeout Is Punishing Followers of Chamath Palihapitiya
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Re: SPAC Wipeout Is Punishing Followers of Chamath Palihapitiya
#2SPACs should be banned. They’re a vehicle for perpetuation of the market as a gambling platform, while undermining the transparency requirements of the market.
Re: SPAC Wipeout Is Punishing Followers of Chamath Palihapitiya
#3SPACs should be banned. They’re a vehicle for perpetuation of the market as a gambling platform, while undermining the transparency requirements of the market.
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Re: SPAC Wipeout Is Punishing Followers of Chamath Palihapitiya
#4Chamath is one of the most self-serving-pretending-to-be-altruistic salesmen to ever set foot in SV. If you were still a “follower” after doing even the slightest bit of due diligence into the man, you deserve to lose money.
Re: SPAC Wipeout Is Punishing Followers of Chamath Palihapitiya
#5SPACs should be banned. They’re a vehicle for perpetuation of the market as a gambling platform, while undermining the transparency requirements of the market.
> SPACs should be banned
That's just treating the symptoms, though?
Re: SPAC Wipeout Is Punishing Followers of Chamath Palihapitiya
#6“To be fair, all of his SPACS are up since IPO”
Re: SPAC Wipeout Is Punishing Followers of Chamath Palihapitiya
#7"it’s been Palihapitiya’s SPACs that have been among the worst bets. His three open SPACs are all in the bottom 20th percentile for returns since the market top."
Re: SPAC Wipeout Is Punishing Followers of Chamath Palihapitiya
#8SPACs should be banned. They’re a vehicle for perpetuation of the market as a gambling platform, while undermining the transparency requirements of the market.
"while undermining the transparency requirements of the market"
Then why don't you propose to just ban forward-looking projections and including more transparency?
SPACs have their distinct use cases and have unique advantages and disadvantages compared with IPOs & DPOs. A blanket-ban on these vehicles is, in my opinion, limiting optionality, which wouldn't be a problem if the IPO & DPO processes were perfect, however, they are not.
Re: SPAC Wipeout Is Punishing Followers of Chamath Palihapitiya
#9“To be fair, all of his SPACS are up since IPO”
IPOC which became CLOV isn't
Re: SPAC Wipeout Is Punishing Followers of Chamath Palihapitiya
#10SPACs should be banned. They’re a vehicle for perpetuation of the market as a gambling platform, while undermining the transparency requirements of the market.
I don't think they should be banned, but I seriously don't understand how someone could invest in one. You don't know what it's going to acquire, so it's a bet that the leadership finds a good company at a good price that you'd be interested in owning. SPACs have nothing else going for them. That said, it sounds a lot like VCs who invest in the founder, not the company.