Are SPACs a useful innovation, a mania, or both? The SPAC boom in part reflects a rebellion by Silicon Valley types, who have long grumbled about having to go through an IPO.
Silicon Valley has thrived by inventing new ways of doing things, from searching for information to contacting friends. So it may come as no surprise that the Valley is eagerly embracing another sort of disruption: special-purpose acquisition companies (SPACs), as an alternative to the conventional initial public offering (IPO) for startups.
Here is a selection of articles from The Economist on the SPAC.
Sunday 21 February 2021
The IPO is dead! Here comes the SPAC!
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