Who is on this subjectordered by the date of their first quote here
Every lane here carries 5 quotes or more. Offsets are days from the middle first-quote date, 2 Oct 2020 — a date, and nothing else. It is not a claim about who reached a view first.
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Bill Gurley
5
2 Oct 2020 – 18 Aug 2021
+0 d
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Brad Gerstner
5
27 Oct 2020 – 27 Oct 2020
+25 d
The chronologysourced and dated, oldest first
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Bill Gurley
Gurley argues SPAC craze exists because traditional IPO route allocates $200 million to bankers' friends.
“I think is the SPAC craze because you've created this massive pricing umbrella arbitrage to get a company public where the traditional route means someone gets to allocate $200,000,000 to their buddies.”
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Bill Gurley
Gurley argues SPAC sponsors are capturing allocation power from Goldman and Morgan Stanley.
“Well, if someone gets to do that, the SPAC sponsors are saying, Hey Goldman, Hey Morgan, you don't get to allocate that money to your friends. I'm gonna allocate it to mine.”
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Bill Gurley
Gurley explains SPACs emerged as sponsors arbitraging the $200 million allocation that banks give their friends.
“Well, if someone gets to do that, the SPAC sponsors are saying, Hey Goldman, Hey Morgan, you don't get to allocate that money to your friends.”
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Brad Gerstner
Gerstner argues traditional IPO bank fees of 6-7% plus historical-only financials leave investors unable to evaluate high-growth companies.
“And on top of that, of course, you can only give historical financials, which leaves most investors in the dark about a high growth company's future prospects.”
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Brad Gerstner
Gerstner says Altimeter's SPAC model lets companies set their own price and charges zero fees to the company.
“You set the price, you tell the story with forward looking forecasts. We serve up a world class group of mutual funds and hedge funds as your shareholders.”
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Brad Gerstner
Gerstner says Altimeter's SPAC model lets founders set their own price and select their shareholders.
“You set the price, you tell the story with forward looking forecasts. We serve up a world class group of mutual funds and hedge funds as your shareholders. You ring the bell, it's your IPO.”
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Brad Gerstner
Gerstner emphasizes Altimeter charges zero fees to companies going public via SPAC.
“And while the day of the IPO and the day after the IPO are nearly identical as if a bank took you public, we don't charge your company a fee. None. Zero.”
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Brad Gerstner
Gerstner emphasizes Altimeter's SPAC charges companies zero fees while delivering outcomes identical to traditional bank IPOs.
“while the day of the IPO and the day after the IPO are nearly identical as if a bank took you public, we don't charge your company a fee. None. Zero.”
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Bill Gurley
Gurley claims people who benefited from $30 billion in IPO underpricing are fighting regulatory changes.
“There will be people that will fight it from a regulatory standpoint. And quite frankly, Brad, they're fighting the SPACs from a regulatory standpoint.”
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Bill Gurley
Gurley argues SPACs are only viable because broken IPO process makes direct listings look expensive by comparison.
“But, you know, it appears to me that the thing is gonna, is either gonna slow down or they're gonna step in and do those types of changes you're talking about.”
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