(1) Not a fan of the @davidfaber hate here on Twitter. It’s the skeptical one who saves the group from disaster. And who will keep these SPACs and target companies honest. https://twitter.com/davidfaber/status/1362191572188676100

(2) Remember, one of the concerns with SPACs is the conflict of interest between the SPAC team and you, the shareholder. Bulls and bears are both welcome in the SPAC world here.

(3) “This is the typical SPAC” in referring to NKLA:

He has been wrong in the short term on numerous occasions, but the market COULD shift and he could be right in the long term. With all the attention, some SPACs will surely be created with ill intent.

(4) For that reason, SPAC management teams will become more and more important as we get more SPACs and less quality target companies.

(5) And SPACs could be a fad. Who knows!? I don’t think so. The cat is out of the bag. Who the hell knew about SPACs before 2020? Just about @spacinsider and 8 other people, and that’s it.

(6) What are potential downfalls?

1. Market crash causing warrant holders (which is a lot of us) to suffer significant loss.

2. SEC implements more controls, depopularizing SPACs.

3. Direct listings take launch once new rules are in place, causing a shift in excitement.

(7)

4. Over time, SPACs begin to outnumber quality companies seeking to go private, causing missed deadlines or subpar target companies.

5. Asteroid hits earth.

6. Zombie apocalypse.

(8) And lastly, imagine how difficult it would be to invest near NAV if David Faber and co were shouting SPAC praise from the CNBC tower’s rooftop?

With all that said.. come on in, the water’s fine, Faber! #LongLiveSPACs and long live the king of SPACs @chamath