I think part of the “good-faith” SPAC pitch was that since there is so much VC money now and companies can close huge series D rounds that there is less need to

I think part of the “good-faith” SPAC pitch was that since there is so much VC money now and companies can close huge series D rounds that there is less need to IPO early. Later stage IPOs don’t give the public as much upside as IPOs used to, so SPACs were a way to give earlier stage investment opportunities to the public.