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The Pied Piper of SPACs
- philshem 5y agoSPAC is Special-purpose Acquisition Company. From wikipedia, > ... a shell corporation listed on a stock exchange with the purpose of acquiring a private company, thus making it public without going through the traditional initial public offering process. https://en.wikipedia.org/wiki/Special-purpose_acquisition_company https://en.wikipedia.org/wiki/Special-purpose_acquisition_co... From the article: > Palihapitiya promotes the SPAC as an innovation that “democratizes access to high-growth companies” while “dismantling” the “traditional capital market.” But he has sometimes acknowledged a simpler allegiance. “I want the fucking money,” he told students at Stanford’s business school, in 2017. “I will play the goddam game, and I will win.”