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Technology Stocks : Blank Check IPOs (SPACS) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (3298)	2/13/2021 8:58:17 AM
From: Thehammer	1 Recommendation Recommended By pocotrader Respond to of 3862

Thanks for that - very enlightening. I always appreciate an interview - that raises questions for me and then subsequently answers most of them. The funding mechanism for SPAC's was the first one since they come through the traditional IPO market. I have invested in only a few and only recently got involved, but my reaming question was regarding the market immediately after the IPO. Do many of these shoot to a big premium or do most tend to trade at or near the IPO price? Obviously, the investment banks will funnel the majority of their allocation to their "best clients".

To: Glenn Petersen who wrote (3298)	2/13/2021 6:29:13 PM
From: petal	3 Recommendations Recommended By Glenn Petersen onepath pocotrader Respond to of 3862

I am a naïve one, but even I am skeptic toward Chamath's "good person" persona. Come on, when you have a billion $ net worth, you can't really feasibly make use of the "I am one of the people" idea. I say 'make use', because I do believe that's what he's doing. He may believe in it –– I hope, and, indeed, believe that he does –– but he sure knows how to capitalize on it nonetheless. I mean, his c/o name says it: he capitalizes on 'social capital'. I really want to believe that all of these billionaires (Chamath, Elon Musk, Mark Cuban etc) actually believe in what they are preaching, and I mostly do; I just can't help feeling that Chamath seem to have way more of an agenda than most other guys in what one might call the WSB camp. Musk, for me, will (almost) always have "for the good of humanity immunity". If I would trust one genius level person with nuclear weapon control, it would be him. I know one or two true geniuses personally, and consider one of them to be a close personal and trusted friend; still I'd trust Musk with our collective faith way more: there's just something about him that says "I'd perish for the good of mankind" in a unique way, like once in a century, maybe even once in a millennia unique. I usually trust my instincts and intuition, and I have never known them to be horribly off, especially not when they tell me to "trust this person". I'm not one to go join a sect just because the leader is really charismatic, so to speak. And that's actually one of the things I like about Musk, which enhances his credibility in my eyes: he doesn't seem to know how to behave properly around people. He seems to spend more time in his own head, with his own ideas. He's too busy thinking about how to save humanity to worry about how to impress it. There aren't too many billionaires around like that. Musk's humbleness by far outpaces any other billionaire's, probably even millionaire's, that I've seen. And then he is the richest man on earth. His humbleness truly humbles me. (Even though there are, of course, some kind of "delusions of grandeur" there –– when they all come true, though, are they really delusions...? In hindsight, it becomes 'perseverance'; at least, that's what I would call it (beforehand too)) * P.S. It seems to me some strange irony of capitalism that, today, the billionaires are the ones most eager to ridicule it... P.S.S. Chamath's talking about "fixing** inequality and climate change" –– that just inevitably makes me believe that he's just one of those same guys that he wants to disenfranchise himself from (e.g., in another interview with him that I've seen, where he disregarded ESG as bullshit (which it of course is.)) IDK, anyone who simplifies stuff that much –– especially incredibly complex stuff like that –– instantly looses tons of my esteem. Sure, maybe he just want to "talk the plebs language", but still, he shouldn't oversimplify like that. That's the language of politicians. And poor politicians at that. (And yes, words matter; language matters.)