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> Quantum computing may not be all it's cracked up to be , but i 'm ok with some smart people becoming newly minted millionaires by investors with excess wealth
by LurkingPenguin 5y ago
> Quantum computing may not be all it's cracked up to be , but i 'm ok with some smart people becoming newly minted millionaires by investors with excess wealth.
Unfortunately, SPACs are mostly a way for those with "excess wealth" (the investor class) to leech off of mom and pops (retail investors).
The sponsors basically get interest free loans to seek out acquisitions of companies that in most cases wouldn't be public markets material and when they consummate a merger, they can walk away with millions upon millions of dollars in fees even if the SPAC performs horribly. When a SPAC performs well, their profits are almost always massively disproportionate to the money they invested and risk they took.
Fortunately in this case, even if quantum computing might not be all it's cracked up to be, Rigetti is a "full-stack" quantum computing company, so it's an amazing opportunity. /s