spac: everyone on the record — The Minutes https://minutesof.com/on/spac/ Everyone on the record about spac: 6 verbatim quotes from 2 people, October 2020 to December 2020, in one chronology, each with a timestamp and a link to… en Sun, 30 Aug 2026 22:33:15 +0000 Bill Gurley: Gurley says direct listings with primary offerings are now clearly superior to both IPOs and SPAC https://minutesof.com/q/a30c1c0c-debd-48d8-a19f-51eba7613f62/ https://minutesof.com/q/a30c1c0c-debd-48d8-a19f-51eba7613f62/ “Today's a super important day because I think it'll be very hard for anyone to argue whether it's a traditional IPO or a SPAC that that's gonna be better than a direct listing with a primary offering.” — Bill Gurley, CNBC Television Tue, 22 Dec 2020 21:56:04 +0000 spac Bill Gurley: Gurley argues SPAC market emerged because traditional IPO underpricing was worsening. https://minutesof.com/q/d15038f8-7f3d-4e58-ac1d-2d07eb3acf43/ https://minutesof.com/q/d15038f8-7f3d-4e58-ac1d-2d07eb3acf43/ “I think one of the big reasons the SPAC market opened up was because the underpricing was getting worse and worse and worse.” — Bill Gurley, CNBC Television Tue, 22 Dec 2020 21:56:04 +0000 spac Brad Gerstner: Gerstner describes SPAC fee structure where shareholders pay via dilution, similar to VC fund e https://minutesof.com/q/e687cfc9-521d-4b81-a6d4-df5f7565549e/ https://minutesof.com/q/e687cfc9-521d-4b81-a6d4-df5f7565549e/ “I mean, it's very similar to our VC funds where we get paid for helping our investors invest in companies like Snowflake.” — Brad Gerstner, Invest Like the Best Tue, 27 Oct 2020 09:30:00 +0000 spac Brad Gerstner: Gerstner explains SPAC costs are borne by SPAC shareholders through share dilution, not by the https://minutesof.com/q/1b7dab41-fb30-48fd-af5d-1cf29252840a/ https://minutesof.com/q/1b7dab41-fb30-48fd-af5d-1cf29252840a/ “All the costs are borne by the shareholders of the SPAC who gave us part of their shares when we set up the SPAC as a finder's fee for helping them invest in a world class company.” — Brad Gerstner, Invest Like the Best Tue, 27 Oct 2020 09:30:00 +0000 spac Brad Gerstner: Gerstner argues Altimeter's SPAC approach takes companies public faster by acting as owners rat https://minutesof.com/q/bc504d07-e7d7-4e71-a4f0-18a40915d337/ https://minutesof.com/q/bc504d07-e7d7-4e71-a4f0-18a40915d337/ “We don't act like agents, we act like owners. We're totally aligned with you. So I mean, we can get you public in a fraction of the time,” — Brad Gerstner, Invest Like the Best Tue, 27 Oct 2020 09:30:00 +0000 spac Brad Gerstner: Gerstner criticizes traditional IPOs as year-long processes where companies don't know pricing https://minutesof.com/q/b8e2bc10-b138-4cff-a292-03380a754fd5/ https://minutesof.com/q/b8e2bc10-b138-4cff-a292-03380a754fd5/ “It's a year long process where you don't know the price for your shares or even who your shareholders are going to be until the end of the line.” — Brad Gerstner, Invest Like the Best Tue, 27 Oct 2020 09:30:00 +0000 spac