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SoftBank’s Vision Fund Plans SPAC, Vows It Is Not Behind Nasdaq Melt-up

From Zero Hedge: SPACs (it stands for Special Purpose Acquisition Vehicle) raised a ton of money over the summer as the craze that seemingly started with Bill Ackman and Chamath Palihapitiya (already on his third SPAC). It’s already drawing in big-name celebrity investors (Shaq is in the process of launching one), which might evoke unflattering parallels to the ICO[…]

23andMe evolved into a genetic biotech powerhouse

From Zero Hedge: What started out as a genetic ancestry company has transformed into what can only be called a biotech.  Before digging into what’s going on now we need to preface this with a bit of history.  In a story broke on the site you are reading now  (Zero Hedge), 23andMe (and other firms) was caught giving[…]

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Hyliion Electric Truck SPAC Mints 28 Year Old Billionaire CEO

From Zero Hedge: Arising out of the smoke and rubble of Nikola’s recent battle with short sellers, one electric truck company has casually made its way onto the public markets via a SPAC, making its 28 year old founder a billionaire in the process. Does it feel enough like 1999 yet? “We were fortunate on[…]

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Third Point Reveals New Stake In Snowflake

From Zero Hedge: With both old and new Wall Street flooding into the recently IPOed cloud darling Snowflake, which among other investors also sported none other than Berkshire Hathaway (although in light of Warren Buffet’s aversion to IPOs, it has been widely speculated that Berkshire’s $250MM investment in SNOW was the work of Buffett’s two[…]