Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

SPACs collapse as $11B of deals are called off within an hour

bloomberg.com

Post reply on HN
Print view View original

111–119 of 119 posts

Re: SPACs collapse as $11B of deals are called off within an hour

#111

Post by krageon »

themitigating wrote: post #77
fshbbdssbbgdd wrote: post #73

Earlier quoted context omitted.

Not the parent, I can’t speak for them. But sometimes I have a paranoid notion that the managerial and legal class have constructed systems where they contain some liability into a black box, then hire someone unknowing to live in the box. The people outside the box are just designing the process and “relying” on the box to behave as expected. The people inside the box don’t know about the context and therefore don’t…

"managerial and legal class" implying people of certain professions are involved in a conspiracy is extremely paranoid.

Managerial class is not that strange as a concept, they demonstrably do collude and perform favours behind closed doors.

Legal class is a little strange, as that is a group of people that are mercenary: They won't really be in on anything, they'll just be paid to facilitate it. They're like a cloud or a tiger: It rains, it eats other animals. That is what it's for.

Re: SPACs collapse as $11B of deals are called off within an hour

#113

Post by baandam »

pbreit wrote: post #64

Are SPACs inherently bad or do they attract lousy offerings (or is that the same thing)?

The reason we are talking about them is because of the macro conditions that pushed risk taking out to an absurd extreme. That is probably bad.

The structure itself though is neutral of course.

Re: SPACs collapse as $11B of deals are called off within an hour

#114

Post by Kon-Peki »

fshbbdssbbgdd wrote: post #99
Kon-Peki wrote: post #88

Earlier quoted context omitted.

sheesh. I'm talking about us paying for a file delivery service because we want to make a report about something like total number of dividends announced last week or something like that. You'd be able to do that with a daily corporate action file from about 25 different vendors. But a corporate action file contains a lot more than dividend announcements! The vendor says that for records of type A, characters 12-17 r…

Sorry, didn’t mean to go and make your story the object of my most paranoid thoughts. It seemed like someone else was trying to express the same thing I had thought and not succeeding, and I felt inclined to share and maybe help them and myself to be understood.

No worries.

Having been forced to read the various filings by this company, it makes me angry that it could one day be in people's retirement index funds. How that is even possible is worthy of many cynical and potentially paranoid thoughts :)

Re: SPACs collapse as $11B of deals are called off within an hour

#115

Post by tomrod »

taywrobel wrote: post #21
ElijahLynn wrote: post #11

What is a SPAC?

Not sure why you’re getting downvoted, this is a primarily tech forum and a SPAC is a primarily business concept. It means a “special purpose acquistion company”. It’s effectively a company set up for the express purpose of facilitating an acquistion or merger of companies, so that assets or IP ownership can be moved in an optimally tax or otherwise cost efficient way. Many have argued they provide no value except fo…

Side question -- where can I learn this space? Until you defined it, I had seen SPAC a handful of times but never know what it was or how it is used.

Re: SPACs collapse as $11B of deals are called off within an hour

#117

Post by themitigating »

pasquinelli wrote: post #106
themitigating wrote: post #77

Earlier quoted context omitted.

"managerial and legal class" implying people of certain professions are involved in a conspiracy is extremely paranoid.

people of certain class have shared interests, that's what makes a class. so they broadly act in the same way because they're responding to the same incentives, no conspiracy needed.

They don't have shared interests, they have shared job descriptions and "managing people " is extremely vague.

Re: SPACs collapse as $11B of deals are called off within an hour

#119

Post by TylerE »

rawrawrawrr wrote: post #10
joko42 wrote: post #8

Earlier quoted context omitted.

When financial instruments like this collapse it doesnt mean money turned to thin air. Rather it means money changed hands. The people who created and sold this asset probably ended up richer . And average people who bought the hype, sadly, poorer.

Chamath Palihapitiya is one of the main perpetrators of SPACs.

Z’
Post reply on HN