To take the other side of this perspective: The edge is twofold. First, it's a way to pool funding using an exchange rather than getting some bank to underwrit

To take the other side of this perspective: The edge is twofold. First, it's a way to pool funding using an exchange rather than getting some bank to underwrite an IPO. Second, many of the people who run SPACs are famous investors who have a track record of success and have greater information and access than most investors.