An examination of Chamath Palihapitiya-sponsored SPACs, including Clover Health, which have plunged 50% on average after the SPAC market hit its peak in mid-Feb
One morning last October, as wildfires raged across Northern California, President Donald Trump convalesced from Covid‑ … Tweets: @bw , @lopezlinette , @eliotwb , @business , @bw , @venkatananth , @pitdesi , @wadhwa , and @hkanji Tweets: @bw : We examined the methods and holdings of Chamath Palihapitiya, who has aggressively promoted SPACs even as his companies have struggled to meet investor expectations https://www.bloomberg.com/... Linette Lopez / @lopezlinette : It's so easy for rich charlatans like @chamath to scam in this country they barely even have to try. https://www.bloomberg.com/... https://twitter.com/... Eliot Brown / @eliotwb : One of the amazing things about interviewing retail investors is they say out loud the thing we assume institutional investors think but never say https://twitter.com/... @business : SPAC king Chamath Palihapitiya is doing just fine, even as the bubble begins to burst Read The Big Take ⬇️https://www.bloomberg.c om/ ... @bw : NEW COVER: Blank-check companies are hitting the wall, but Chamath Palihapitiya—tech billionaire, Golden State Warriors co-owner, and all-around meme lord—is doing just fine https://www.bloomberg.com/... https://twitter.com/... Venkat Ananth / @venkatananth : This @BW profile of Chamath Palihapitiya is 🔥 “Social media influencers of Palihapitiya's stature & charisma tend to monetize their following by promoting some sort of salable product — say, a detox tea or a line of home goods. Palihapitiya has the SPAC.” https://www.bloomberg.com/... Sheel Mohnot / @pitdesi : Chamath has a sure-thing, 100%, can't-miss investment for you that will definitely, absolutely pay off for him. His SPACs are down 20% on the year; S&P is up 13%. Kudos to him for making SPACs mainstream, but I wouldn't touch most of his companies https://www.bloomberg.com/... https://twitter.com/... Vivek Wadhwa / @wadhwa : The SPAC King Is Doing Just Fine Even as the Bubble Starts to Burst by @ZekeFaux https://www.bloomberg.com/... —Had no idea that Chamath Palihapitiya was such a scam artist, who has profited so much from the losses of his followers Hussein Kanji / @hkanji : “Once I get inside, I will do my best to completely explode it from the inside” https://www.bloomberg.com/... and https://venturebeat.com/...