Bill Ackman, a prominent investor known for his bold strategies, joins Peter Rudegeair, a WSJ journalist specializing in financial events. They delve into Ackman's ambitious plan to raise $25 billion through his closed-end fund aimed at everyday investors. Despite his social media clout, unexpected challenges led to the plan's collapse. The duo also discusses the complexities of democratizing investments, how market dynamics influence perceptions, and the lessons Ackman learned from this high-profile IPO fiasco.