This Week in Startups Best of This Week in Startups: Week of September 7th, 2020
Sep 12, 2020
The podcast dives deep into the world of SPACs, unraveling their rise and the impact of influential leaders in the field. It examines how these financial vehicles work, emphasizing the importance of investor trust and strategic partnerships. A fascinating discussion unfolds about innovation at Apple, focusing on the company's distinct culture and the powerful legacy of Steve Jobs. Additionally, the conversation tackles the pressing issue of diversity in corporate leadership, challenging conventional beliefs and spotlighting efforts to foster inclusivity.
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SPAC Explained
- A SPAC, or Special Purpose Acquisition Company, raises capital then finds a private company to acquire.
- This allows a private company to go public by merging with the already-public SPAC.
Notable SPAC Participants
- High-quality individuals like Bill Ackerman and Roger Fraden are increasingly involved in SPACs.
- Desktop Metal partnered with Leo Hendry, formerly of TCI and AT&T Broadband, for their SPAC.
Choosing a SPAC
- When choosing a SPAC, find a high-quality manager who brings significant capital.
- Raise a PIPE (private investment in public equity) to secure high-quality, long-term investors.