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What specific charges do you think they are guilty of? Chamath Palihapitiya would be the main culprit of dumping garbage on people that anyone would know of a

What specific charges do you think they are guilty of? Chamath Palihapitiya would be the main culprit of dumping garbage on people that anyone would know of and I can't really find anything he'd be guilty of. You're allowed to be a cheerleader for your company. You're allowed to bring a business combination to the market and let people make up their mind if they want to be a part of it or get their money back from the SPAC. You're allowed to sell your shares when your lock up ends You're allowed to do this multiple times if people will continue to fund you. His SPAC companes are a whose who of failed companies. - Virgin Galactic Holdings - OpenDoor Technologies - Clover Health - SoFi Technologies and one failed SPAC Social Capital Hedosophia IV Maybe Chamath would have been better off creating a hedge fund that only went short

minwcnt5 3y ago
I wouldn't call SoFi a failed company (yet). They're still at roughly 10B valuation, same as what they IPOed at. That's actually pretty remarkable in this economy for a company that's still in pre-profit growth mode. OpenDoor isn't that bad either, they're down 60% from IPO, but a real estate company being able to retain that much value with the massive hike in interest rates also seems pretty good (competitors have done much worse, e.g. Compass and Redfin).
- FireBeyond 3y ago
  > that's still in pre-profit growth mode. SoFi started operations in early 2011. How long are they planning to be in "pre-profit growth mode"?
throwawaysugar 3y ago
> You're allowed to be a cheerleader for your company. You're not really allowed to knowingly cheer for a company you know to be 100% vaporware. That's fraud.
- lazide 3y ago
  A surprising number of very smart people become incredibly dumb on the stand if/when it blows up. Being too dumb to understand it couldn’t actually work is a defense. Part of why it’s usually so important for them to not have anyone telling them so in writing inside their companies.

minwcnt5 3y ago

I wouldn't call SoFi a failed company (yet). They're still at roughly 10B valuation, same as what they IPOed at. That's actually pretty remarkable in this economy for a company that's still in pre-profit growth mode. OpenDoor isn't that bad either, they're down 60% from IPO, but a real estate company being able to retain that much value with the massive hike in interest rates also seems pretty good (competitors have done much worse, e.g. Compass and Redfin).

FireBeyond 3y ago
> that's still in pre-profit growth mode. SoFi started operations in early 2011. How long are they planning to be in "pre-profit growth mode"?

throwawaysugar 3y ago

> You're allowed to be a cheerleader for your company. You're not really allowed to knowingly cheer for a company you know to be 100% vaporware. That's fraud.

lazide 3y ago
A surprising number of very smart people become incredibly dumb on the stand if/when it blows up. Being too dumb to understand it couldn’t actually work is a defense. Part of why it’s usually so important for them to not have anyone telling them so in writing inside their companies.