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Colin Kaepernick Targets a Socially-Driven Billion-Dollar Company with New SPAC
- nexthash 6y agoSo this is essentially a SPAC that merges with social-justice mission-driven type companies to help them grow. While this is a morally commendable idea, I feel the outcome will be more akin to social welfare or charity on the investors' dime depending on how it is carried out. If a company's mission is primarily focused on helping the community rather than making money, the two objectives will either interfere with each other or leave the company unprofitable. As harsh as it is, making a profit and growing is the first priority of any company because that is what allows it to keep existing. If social good is focused on over a viable plan for profitability then investors in Kaepernick's enterprise won't see much of a return on their investment. It is definitely possible for the two objectives to coexist, but Kaepernick should prioritize merging with businesses that clearly demonstrate how the execution of their missions will produce profit in the future.
- minikites 6y agoColin Kaepernick is a brave and upstanding citizen who doesn't get the credit he deserves for spreading awareness about present-day racism and police brutality.
- prepend 6y agoIt makes more sense than GameStop, I suppose. I think this kind of stuff is the logical step as people figure out how to turn fame into real money. I’m sure there’s a formula for turning social justice rage into direct cash or this wouldn’t be attracting so much investment.
- Rebelgecko 6y agoWow, it seems like a new celebrity is announcing a SPAC every day. In just the last few months there's been Kaepernick, A Rod, Michael Jordan (he mightve gotten involved post IPO, I don't remember) and even a Shaq Spaq.
- zkirill 6y agoSince they haven't chosen a ticker yet what's the best way to sign up for updates on this and get in on this early?