After a while, I read a sensible article on SPAC. A must read irrespective of you like or hate SPACs. “Profitability has also rarely been a requirement for an IPO. Uber, Tesla, and Amazon are all prime examples of unprofitable businesses that listed while reporting losses. https://twitter.com/spacguru/status/1387601750840987648

In all these examples, clear, coherent visions, strong leadership teams, and patience from investors to see leaders execute on their vision overcame the traditional financial barometers of success.”....

“Biotech firms are an excellent and timely example of the way investors are looking at the market. An early-phase biotech could be years away from selling any drugs, let alone turning a profit. Yet, investors pour money into these companies.

Analysts estimate the likelihood of a drug advancing in its trials after detailed scrutiny, but these companies can see their stocks rise for years while losing money”. ...

This is exactly the reason why I’m so heavily invested in SPACs searching for a merger “investors in pre-acquisition SPACs get access to venture-like opportunities without the capital traditionally required for such investments.”