What The Heck Happened To SPACs — With Charles Duhigg

Big Technology Podcast

Alex Kantrowitz

Technology, Religion & Spirituality, Business News, Business, Religion, Science, Philosophy, Society & Culture, Entrepreneurship, Management, Marketing, Politics, News Commentary, Government, Investing, Tech News, Social Sciences, News

4.6 • 395 Ratings

🗓️ 20 April 2022

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Charles Duhigg is a Pulitzer-prize-winning reporter and the author of Smarter Faster Better and The Power of Habit. He joins Big Technology Podcast to discuss what's happened with SPACs — special purpose acquisition companies — that seemed ready to revolutionize the IPO process just last year but have now fallen out of favor. Duhigg explains SPACs' rise, their decline, and what the financial world will look like once they settle into place. We also spend the first ten minutes discussing Elon Musk's Twitter bid and whether he's flying a bit too close to the sun. Come chat with about this episode with me here on LinkedIn: https://www.linkedin.com/feed/update/urn:li:activity:6922620355924647936/ You can find Duhigg's story here: https://www.newyorker.com/magazine/2021/06/07/the-pied-piper-of-spacs

Transcript

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0:00.0	From LinkedIn News, I'm Leah Smart, host of Everyday Better, an award-winning podcast dedicated to personal development.
0:06.2	Join me every week for captivating stories and research to find more fulfillment in your work and personal life.
0:11.8	Listen to Every Day Better on the LinkedIn Podcast Network, Apple Podcasts, or wherever you get your podcasts.
0:17.2	LinkedIn Presents Hello and welcome to the big technology podcast, a show for cool-headed, nuanced conversation
0:42.5	of the tech world and beyond. About a year ago, the hottest financial instrument in the world
0:47.6	was the SPAC. You might have heard about it. Every company was SPAC and nobody was IPOing anymore.
0:53.5	Well, right now, it looks like
0:55.2	SPACs are a forgotten instrument. And it's very rare that something goes from being such
1:01.4	a object of fascination to such an afterthought in our financial world. And I think by looking at
1:07.3	what's happened to SPACs, we can learn a lot about where our economy is today and where
1:11.6	it's going. We have the perfect guest to talk about it today. Charles Duick is here. He's a Pulitzer
1:16.2	Prize winning reporter, author of Smarter, Faster, Better about the science of productivity and the
1:21.2	power of habit about the science of habit formation. He's currently a reporter at The New Yorker. Charles Duhigg, welcome to the show. Thanks for having me.
1:28.8	It's great to have you here.
1:29.9	The last time, well, the first time we met, actually, we were on set at CNBC and talking about Elon Musk's cyber truck.
1:37.4	It was a big Elon Musk story right now in the middle of another Elon Musk story.
1:41.3	It does seem like, you know, the business world is just like, you know, you have Elon Musk and you have pauses and there's more Elon Musk story. It does seem like, you know, the business world is just like,
1:44.4	you know, you have Elon Musk and you have pauses and there's more Elon Musk.
1:48.9	You know, Matt Levine, who writes the money stuff column, has like an index where he says,
1:54.7	the best thing you can do for your stock is be as adjacent to Elon Musk as possible.
1:58.6	Because if Elon will tweet about your stock or your crypto or whatever you've got going,
2:03.5	the value will go up.
	...

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