I know it's not crazy if you look at it at face value. The problem lies with all those IPOs promote bullshit and lies and then their stock plummets when it comes out a short time later. Then there is never any action brought against them. I don't support the SPACs, I think the idea of allowing firms like Goldman Sachs control IPOs is fucking lunacy. This seems like a way to funnel money to Goldman, JP Morgan, Citi, etc. and punish Trump at the same time.
That's funny because Butzfucked, Beyond Meat, and several others have all been big advantages for the early super rich investor in the shadowy method of IPOs, and no one said a thing outside a few malcontents in the media. And they all lost their value pretty quickly as the early investors dumped stock at market rates, netting millions or more for their minor investments. I'm pretty certain the only reason Peter Thiel hasn't divest completely from Facebook is the fact the stock never went astronomical.
Trump's organization used an SPAC to go public. Can't imagine what that might have to do with this sudden change after years of it being ignored.
Shady as fuck group at that.
Same group as Trump's Truth.
I know it's not crazy if you look at it at face value. The problem lies with all those IPOs promote bullshit and lies and then their stock plummets when it comes out a short time later. Then there is never any action brought against them. I don't support the SPACs, I think the idea of allowing firms like Goldman Sachs control IPOs is fucking lunacy. This seems like a way to funnel money to Goldman, JP Morgan, Citi, etc. and punish Trump at the same time.
Then this is a bandaid regulation, probably. No real regulation, just give the government their cut.
SPACs normally have unfavorable advantages for big investors:
https://youtu.be/GrWgFNmvEwE
That's funny because Butzfucked, Beyond Meat, and several others have all been big advantages for the early super rich investor in the shadowy method of IPOs, and no one said a thing outside a few malcontents in the media. And they all lost their value pretty quickly as the early investors dumped stock at market rates, netting millions or more for their minor investments. I'm pretty certain the only reason Peter Thiel hasn't divest completely from Facebook is the fact the stock never went astronomical.