Aside from the obvious problems with SPACs, I wonder if they wind up having more of a chilling effect on the overall tech spaces than not. A lot of nascent tec

Aside from the obvious problems with SPACs, I wonder if they wind up having more of a chilling effect on the overall tech spaces than not. A lot of nascent technologies run in cycles - quantum, ai, synbio, vr all have had hype cycles in which a lot of money floods the field and a lot of progress can be made, even if the underlying technology isn't ready for the mass market yet. At some point it becomes clear there's no market yet, and the investors flee, and we have to wait for another cycle. The SPAC seems like an obvious way for one company to make a boatload of cash - Rigetti stands to take in a few hundred million, which is a hell of a fundraising round, and bully for them, but it also means the market's taking a closer look at them an awful lot sooner than they would otherwise, because there's no way they'd be going public via the traditional method at this point. I can't see that being good for fundraising elsewhere in the quantum sector overall right now, and I wonder if it presages an earlier retreat from the sector than would otherwise have happened.