An SPAC is nothing but a fraud vehicle. Look at the new SPAC driving the new Trump "social network". They didn't have to do any work. No due diligence, no financial disclosures, no business plan, no numbers - nothing.
After a few iterations of this and billions sucked up by these conmen, the government will have to step in and clamp down, while the conmen (and probably HN) bleat about "big government", "regulations", and "socialism".
After a few iterations of this and billions sucked up by these conmen, the government will have to step in and clamp down, while the conmen (and probably HN) bleat about "big government", "regulations", and "socialism".