Howard Lindzon Tells Us Why He Launched His Own SPAC
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 1 March 2021
⏱️ 60 minutes
🧾️ Download transcript
Summary
SPACs, sometimes referred to as blank check companies, are incredibly hot. After being a sort of sleepy and sometimes sketchy backwater of the finance world, the last several months have seen them go on an absolute tear, with several of them fronted by celebrities like Alex Rodriguez or Colin Kaepernick. On this episode, we speak with longtime investor and VC Howard Lindzon about his journey towards launching one of his own: how it came about and why he is excited about the model.
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| 0:00.0 | Adlots is brought to you by Apollo. When it comes to building and financing stronger businesses, |
| 0:05.1 | Apollo does the heavy lifting by providing customized capital solutions. Apollo, |
| 0:09.6 | investing in tomorrow, today. Learn more at Apollo.com. |
| 0:30.0 | Hello and welcome to another episode of the Adlots podcast. I'm Joe Wyzenthal. |
| 1:00.1 | And I'm Tracy Alley. Tracy, you know, we've done a few episodes on SPACs. And obviously, |
| 1:07.4 | at this point, I don't think anyone has missed the incredible SPAC boom that we've seen over the |
| 1:13.5 | last several months. But I have to admit, I still have like tons of questions about like how they |
| 1:18.1 | work and where this all came from. I was just thinking if we timed our Adlots SPAC episodes for |
| 1:26.0 | every time a new SPAC entered the market, we'd be doing like two or three episodes per week |
| 1:31.3 | for each SPAC. It's been insane. The number that have come to market. |
| 1:35.3 | No, it would be way more than two or three episodes per week, Tracy. You know that last Friday, |
| 1:40.6 | so we're recording this on, I think it's Tuesday, February 23rd, last Friday. There were 13 SPACs |
| 1:49.7 | filed in one day last Friday. And then I think there were like another five that like we're out |
| 1:54.5 | by like Monday morning the next week. So we would never, we would just be all SPACs all the time. |
| 2:01.2 | There's no way our producer, Laura, would be able to handle the handle the long suffering producer. |
| 2:07.7 | So here's one thing that I always think of when we talk about SPACs. I get a little bit nervous |
| 2:13.4 | when the focus is on a particular capital markets tool. Like it's never a good indicator for where |
| 2:20.5 | you are in cycle when people start talking about the actual packaging of the product versus the |
| 2:26.4 | content. Yeah, that is a pretty, I agree. I mean, that is kind of weird. People are more interested |
| 2:33.2 | in the phenomenon of SPAC than like the companies. The other question that I have and this is something |
| 2:39.7 | is like, where do they come from? Because one of the things that we've seen is that a lot of them like |
| 2:45.6 | are associated with a very well known name like for example, you know, like Colin Kaepernick, |
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