At this point, if you aren’t going public via a direct listing, traditional IPO or SPAC, are you even a growthy business?
Every CEO I talk to at a startup that’s doing more than Series B-level revenue tells me that SPACs are circling, hungry for a deal so they won’t have to return collected capital to their original backers. There’s an old joke: If all you have is a hammer, everything looks like a nail. Except this time, if all you have is a blank-check company, every erstwhile startup looks like a public company in waiting.
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