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(CNBC)   David Schwimmer warns of "SPAC froth," says "We were on a break"   (cnbc.com) divider line
    More: Amusing, Stock market, Stock, stock exchange, common complaint, U.S. market, raise funds, CEO David Schwimmer, investment advice business  
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865 clicks; posted to Business » on 05 Mar 2021 at 4:03 PM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



12 Comments     (+0 »)
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2021-03-05 1:35:36 PM  
We were previously warned about CPAC froth.
 
2021-03-05 4:06:11 PM  
Still sucks at acting.
 
2021-03-05 4:10:54 PM  

johnsoninca: We were previously warned about CPAC froth.


But enough about Santorum
 
2021-03-05 4:12:29 PM  
SPAC froth is what happens when your moistmaker goes bad.
 
2021-03-05 4:36:55 PM  
Next step, Schwimmer will advise investors to PIVOT! out of SPACs.
 
2021-03-05 4:46:02 PM  

FrancoFile: SPAC froth is what happens when your moistmaker goes bad.


I couldn't eat all of it, it was just too big.  I had to throw the rest of it out.
 
2021-03-05 6:08:23 PM  
Another day another CNBC SPAC hit job. God forbid normal people be able to get in on the ground floor of companies going public.
 
2021-03-05 7:08:44 PM  

surrounded by assholes: Another day another CNBC SPAC hit job. God forbid normal people be able to get in on the ground floor of companies going public.


There's a lot of survivor bias influencing the general perception of Venture Capitalists. The truth is, VC loses tons of money all the time. I just did diligence on a company we bought (I'm not VC) for let's say, $100M. I looked up their funding in Crunchbase and they've raised almost $600M. That's $500M up in smoke.

The point is, there is plenty of money to be lost in venture investing, and letting retail investors in on it carries as much risk as it does potential for reward. Hence, "froth". Yeah, you might buy into a SPAC that's about to acquire controlling interest in the next Facebook, but you could also unwittingly buy into the next pets.com.
 
2021-03-05 7:09:39 PM  

surrounded by assholes: Another day another CNBC SPAC hit job. God forbid normal people be able to get in on the ground floor of companies going public.


The problem is that it's a way to dump crap companies on the public while the funders cash out. Think about how shiatty private equity companies are and you're on the same page. Not saying Blank Check (SPAC) companies should be illegal, but they need to be regulated a lot more than they are, right now it's just predatory capitalism. I have more respect for hedge funds.
 
2021-03-05 7:17:46 PM  
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Gross.
 
2021-03-06 1:45:38 AM  

surrounded by assholes: Another day another CNBC SPAC hit job. God forbid normal people be able to get in on the ground floor of companies going public.


You don't need SPACs for that. Just do a direct listing. It worked for Palantir.
 
2021-03-06 4:26:19 PM  
Know the SPAC you are getting into and the track record of the organizer.
 
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