1) SPACs have enabled deep tech companies to go public with little/no commercial traction in a similar way that pre-commercial biotech companies have gone public via traditional IPO for decades
2) There tend to be fairly specialized public market investors that have significant medical and scientific expertise in-house to evaluate pre-commercial biotech companies
3) I wonder if the investors in newly public companies in EV, space, additive manufacturing, LiDAR, robotics, AI, etc companies have similar technical expertise in evaluating these businesses
4) Some of these newly public deep tech companies are already commercial and will be phenomenal businesses. Undoubtedly some will struggle as well and we may see a wide dispersion of outcomes, as has been true in biotech IPOs for a long time
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