Remember when Chamath Palhapitiya was claiming he's the new Warren Buffett on CNBC. Blew up a lot of retailer investors funds through his SPACs although he himself Madeoff quite well given the closing conditions.
> when Chamath Palhapitiya was claiming he's the new Warren Buffett on CNBC.
I don't remember that. I watched a few of his videos. Seems like rational statements explaining why Warren might be wrong about Bitcoin. https://www.youtube.com/watch?v=RAvYvyj37UU
> Blew up a lot of retailer investors funds through his SPACs although he himself Madeoff quite well given the closing conditions.
I was not aware of that. That's a pretty strong accusation you're making there, it sounds like he committed crimes. Do you have a link to substantiate this?
> I was not aware of that. That's a pretty strong accusation you're making there, it sounds like he committed crimes. Do you have a link to substantiate this?
A lot of his SPACs are trading under their initial price of $10/share.
Here's 3 examples: CLOV, SPCE, SOFI. If you bought in during the SPAC stage or at IPO, you'd have lost quite a bit on any of these.
> Blew up a lot of retailer investors funds through his SPACs although he himself Madeoff quite well given the closing conditions.
does not seem to be comparable or descriptively equivalent to this part:
> CLOV, SPCE, SOFI. If you bought in during the SPAC stage or at IPO, you'd have lost quite a bit on any of these.
Was your reference to "Madeoff" intended to convey a ponzi scheme? Because that doesn't seem to be what those investments are.
Instead googling indicates these are real companies that appear to be operating, albeit in challenging businesses.
Here's what I found:
CLOV Stock: Is It A Good Long-Term Opportunity?
Clover Health is a former SPAC that became a penny stock. At the $2-3 level, could CLOV be presenting a decent long-term opportunity?
Bernard Zambonin and Guest Contributor
May 23, 2022
SoFi Technologies, Inc. is an American online personal finance company and online bank. Based in San Francisco, SoFi provides financial products including student and auto loan refinancing, mortgages, personal loans, credit card, investing, and banking through both mobile app and desktop interfaces.
Premarket Mover: Virgin Galactic Holdings Inc (SPCE) Up 1.65%
He said that Metromile was going to be his GEICO, thus implicitly comparing himself to Buffett. Those SPACs did turn out to be garbage, but I still find them somewhat interesting at least when viewed as a financial innovation.
