SPAC

SPACs democratize access to private markets. They let retail investors participate in growth that was previously only available to institutional investors.

We went public via SPAC at a $1.6 billion valuation. We had no revenue, no production vehicle, and apparently no real pre-orders. The SPAC era will be studied for decades.

The SPAC with Grab was the biggest ever at $40 billion. The timing was terrible. I still believe in the company.

SPACs were a great tool until everyone ruined them. The concept is fine. The execution got sloppy.

Going public via SPAC seemed like a good idea at the time. In hindsight, we needed more time to figure out recurring revenue.

When the SPAC market collapsed, it took our public listing with it. The company survived. The stock market lesson was expensive.