Only reason I say it is bad is because the insider really know if this is going to perform well or not - SPACs have not traditionally done well and have left mo

Only reason I say it is bad is because the insider really know if this is going to perform well or not - SPACs have not traditionally done well and have left mom and pop // retail investors as the bag holders in many cases. I mean you could say what the pied piper of SPACS (Chamath Palihapitiya) said which is "do your own due diligence" but he was highly conflicted when he said that (hyping SPAC deals that have since shed significant value while make money on the initial transactions). To be fair we still have to see how the SPACs from the last year perform over the next 5 years. My guess is that they went to the public markets when it was rich and retail investment was high though the future is unwritten. I just wanted to correct your assertion that it was the wealthy that are paying for this, when in fact it is likely just retail investors who will hold the end result (whether good or bad).