Silicon Valley thrives by inventing new ways of doing things, from searching for information to contacting friends. So it may come as no surprise that the Valley is eagerly embracing another sort of disruption: SPACs, as an alternative to the conventional IPO for startups, The Economist reports.
With Wall Street banks allocating shares to top clients and encouraging companies to price their offerings low to ensure a rise on the first day, many in Silicon Valley feel the IPO “tax” is too great. Read more.
