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Jul 6, 2021
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the spac boom is that we are seeing slow down.you think this particular market bubble has run its course? vinod: there are good and bad things about spacs. biotech has always been able to do ipo's without having revenue for 5, 10 years the ability to explain your future, when it is different from the past, which is the case in nextdoor, accelerating growth, is a real benefit to companies when considering an ipo or spac alternative. if you can eliminate the abuses in the spac market, for example, longer lockups, regulation. companies are held to the same standard as if they were doing and ipo. i think it is a very important tool. the slowdown is helping and will result in better spacs and better behavior. ed: great conversation. thank you for taking the time to join me. with that, matt, over to you. matt: thank you for getting them on. a kindness reminder, think before you post, is something that a lot of people could use. we will come back and continue to talk about what is going on with oil and the markets, what is going on with
the spac boom is that we are seeing slow down.you think this particular market bubble has run its course? vinod: there are good and bad things about spacs. biotech has always been able to do ipo's without having revenue for 5, 10 years the ability to explain your future, when it is different from the past, which is the case in nextdoor, accelerating growth, is a real benefit to companies when considering an ipo or spac alternative. if you can eliminate the abuses in the spac market, for...
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Jul 6, 2021
07/21
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charts and graphs on spacs.g up, who is better and who is best? cramer spreads the summer love on the s&p 500's best bets from the year's first half next if you wake up thinking about the market and want to make the right moves fast... get decision tech. for insights on when to buy and sell. and proactive alerts on market events. that's decision tech. only from fidelity. [swords clashing] - had enough? - no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. don't thank them too soon. this is cynthia suarez, cfo of go-go foodco., an online food delivery service. business was steady, until... gogo-foodco. go check it out. whaatt?! overnight, users tripled. which meant hiring 20 new employees and buying 20 new laptops. so she used her american express business card, which gives her more membership rewards points on her business purchases. somebody ordered some laptops? cynthia suarez. cfo. mvp. get t
charts and graphs on spacs.g up, who is better and who is best? cramer spreads the summer love on the s&p 500's best bets from the year's first half next if you wake up thinking about the market and want to make the right moves fast... get decision tech. for insights on when to buy and sell. and proactive alerts on market events. that's decision tech. only from fidelity. [swords clashing] - had enough? - no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces...
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Jul 19, 2021
07/21
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it's a very large spac i would say the s.e.c.ion, and i think they should, though i would argue the reason why they should -- many spacs have crazy valuations, sponsors putting up numbers, and a lot of retail investors pile in, the stock price pops, and it hurts a lot of people form this is enormously profitable, with a great long-term trajectory, no founder stock, no compensation, even the warrants we bought when we paid $65 million were tearing up in this transaction our shareholders are investing -- we're all getting the same common stock and there's no dilution to our shareholders so all the reasons the s.e.c. should be focused on spacs don't apply here i think it's -- when i view, again, it's not great, the negative aspects are the trust, which goes away in four months it's a long time for many investors, but that was actually driven by something the s.e.c. was focused on t. >> bill, now that the transaction isn't happening as a spac, just to put a fine point on it, pershing square, the hedge fund, is effectively stepping in
it's a very large spac i would say the s.e.c.ion, and i think they should, though i would argue the reason why they should -- many spacs have crazy valuations, sponsors putting up numbers, and a lot of retail investors pile in, the stock price pops, and it hurts a lot of people form this is enormously profitable, with a great long-term trajectory, no founder stock, no compensation, even the warrants we bought when we paid $65 million were tearing up in this transaction our shareholders are...
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Jul 12, 2021
07/21
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>> actually if you look at the spacs, if you look at the universe of spacs 73% of the spacs that hadand good funding and liquidity behind them actually outperformed and increased in performance and the names that have come out that don't have experienced management teams, they have a average return of negative 14%. it just depends which stock we're talking about, right? you have to pick the well, capitalized good ideas. i see your point. if it comes out of a benefit, what is the fun in that? there is a middle ground there. i think, we look at spacs that are 250 market cap and higher. we certainly have a ways to go if you start out at that level but you will not get nailed with inexperienced deals that were forced to happen because they were on the market too long and met the tier window. it is about which spac you pick. good management team, good capitalization, and focus on emerging technology. that is huge. space, fintech, all these names are super interesting and i think they will pay off in the future. charles: silvia, i appreciate these conversations with you. i was a huge -- i
>> actually if you look at the spacs, if you look at the universe of spacs 73% of the spacs that hadand good funding and liquidity behind them actually outperformed and increased in performance and the names that have come out that don't have experienced management teams, they have a average return of negative 14%. it just depends which stock we're talking about, right? you have to pick the well, capitalized good ideas. i see your point. if it comes out of a benefit, what is the fun in...
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Jul 8, 2021
07/21
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there's 500 spacs. have they been able to find 500 businesses >> no, it's not easy to find a business i wouldn't call it spac mania. that was the first quarter things are stronger in spac land that's a level of speculation to some extent. >> there's too much stock come sboog this market, david they can't find places to put it meanwhile, the meme people have diverted their money from amc, which should be up since adam aaron said we're not going to issue more stock, and gamestop to prop up a lot of other junk they've decided to get into like new egg. new egg, which is the rival to best buy. >> right >> which is merged with a chinese shell. >> tnow it's down 20%. >> all of which means what, for today's action and what we can expect in the days and months ahead, are we going to sit here at 129 and 13 on the ten-year for quite some time worrying about a slowing in the economy when only a few weeks ago we were worried about overheating >> there is no real slowing. there's psychological, plus there's lots of m
there's 500 spacs. have they been able to find 500 businesses >> no, it's not easy to find a business i wouldn't call it spac mania. that was the first quarter things are stronger in spac land that's a level of speculation to some extent. >> there's too much stock come sboog this market, david they can't find places to put it meanwhile, the meme people have diverted their money from amc, which should be up since adam aaron said we're not going to issue more stock, and gamestop to...
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Jul 19, 2021
07/21
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matt: let's talk about the spac.on't want to say controversial but it is a fascinating market phenomenon that we have really seen. a lot of popularity that kind of crested, has come down as they are making deals. why did you decide to go with a reverse merger, rather than a vanilla ipo? tom: we worked with private equity for a number of years, a number of different firms. for us, that put us in a cycle of looking for a new group of investors every three years or so. we were at a natural point of our development, we were growing rapidly. we were going out into the market, learned about these spac vehicles. it seemed like a very efficient way for us to go to market. we are working with a group that has a lot of public company experience. the view is that can ease our transition as a public company. this made a lot of sense for us. yes, there are a lot of spacs out there that maybe don't have revenues or a proven track record. this is a real business, like you said, founded in 1903, iconic name in the industry, brand fo
matt: let's talk about the spac.on't want to say controversial but it is a fascinating market phenomenon that we have really seen. a lot of popularity that kind of crested, has come down as they are making deals. why did you decide to go with a reverse merger, rather than a vanilla ipo? tom: we worked with private equity for a number of years, a number of different firms. for us, that put us in a cycle of looking for a new group of investors every three years or so. we were at a natural point...
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Jul 13, 2021
07/21
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you will see spac's pickup.e are launching a number of spac's sell side and others are active in forming the spac's. technology is still leading the pack. technology these days, much broader, it is pervasive across industries, whether it is the medical business, retail business, fintech business. as technology takes over the world, we will see continued consolidation and continued acquisition to create capabilities and this idea, but most around existing businesses. what is one fly in the ointment? a pronouncement by the biden administration about anticompetitive behavior. i think you will see a much tougher ftc on antitrust. emily: what do you think it looks like? we saw a flood of spac's earlier this year, then it kind of died down. how much are they going to be in terms of the total pie of public offerings? marc: it will still be pretty significant. i think it is going to evolve, and it needs to evolve. it was kind of speculative in the early days. far more about big opportunities with results now. i think yo
you will see spac's pickup.e are launching a number of spac's sell side and others are active in forming the spac's. technology is still leading the pack. technology these days, much broader, it is pervasive across industries, whether it is the medical business, retail business, fintech business. as technology takes over the world, we will see continued consolidation and continued acquisition to create capabilities and this idea, but most around existing businesses. what is one fly in the...
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Jul 7, 2021
07/21
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i might do a spac of the day story.f the bgl story to go with your spac of the day, like that company that came public on the nasdaq >> yes. >> we need that company. have you noticed how much we need these companies don't you say that we need that company we don't need 3/4 of these companies. >> you don't think so? >> no. >> there's a lot of capital available. there are a lot of companies that have been raised via spac, and there are a lot of companies that have great growth prospects in out years in industries that we care about. ev is certainly one of them. >> ev. >> there's been a great deal of space of late. we had their latest deal they did for their spac, their latest spac i think it was number five for them in terms of -- you know, they take pictures from space of all sorts of different things down to like the hair on your head >> it'd be a fly >> we're going to have flying cars >> arc was buying yesterday, netflix, netflix that's become a wood stock again, selling roku, home run, selling raven home run because o
i might do a spac of the day story.f the bgl story to go with your spac of the day, like that company that came public on the nasdaq >> yes. >> we need that company. have you noticed how much we need these companies don't you say that we need that company we don't need 3/4 of these companies. >> you don't think so? >> no. >> there's a lot of capital available. there are a lot of companies that have been raised via spac, and there are a lot of companies that have...
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Jul 6, 2021
07/21
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this is, therefore, a spac is this a spac report?know i guess because i'm doing it sarah friar here, being nextdoor's ceo this is very exciting deal we had sarah on last week. congratulations to both of you >> thank you so much, jim. thanks, david, for having us on this morning >> all right sarah, ei'll go right to it. you know my wife, lisa, starts every morning, every single morning with nextdoor. she's not alone. today, she would have been met with a story about a baby robin that fell out of a nest. believe it or not, that would be something she'd immediately mention to me. honestly, right then then a gray station wagon, subaru parked on huntington street yes. rear-view mirror window smashed by truck but, and this is why i bring this up, second item, sarah, an ad for optimum $35 a month. is that where the money is going to be, sarah >> yeah. i mean, you're exactly right, jim. we're thrilled this morning to be announcing the go public with the coastal venture spac it is going to bring in a lot of proceeds, $686 million of gross pro
this is, therefore, a spac is this a spac report?know i guess because i'm doing it sarah friar here, being nextdoor's ceo this is very exciting deal we had sarah on last week. congratulations to both of you >> thank you so much, jim. thanks, david, for having us on this morning >> all right sarah, ei'll go right to it. you know my wife, lisa, starts every morning, every single morning with nextdoor. she's not alone. today, she would have been met with a story about a baby robin that...
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Jul 13, 2021
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>> our spac is structured differently than virtually all other spacs. share in the promote. we only get our interest in the publicly traded company, agency the value of the spac or the value of the company goes up 10% above what the ipo price of the spac was and then grows from there. so, we are very aligned with our shareholders that's something that we wanted from the outset. we wanted that kind of dynamic we don't expect this to be the only spac. we want this to be a proud sponsor of the companies we invest with us >> and i'm looking in part to your revenue estimates going out to 336 million you also say the proceeds from the transactions, i think our viewers have seen them, we put it up on your screen are going to fully fund your forecast in growth you're not going to need to raise any more equity? >> no, we don't think. about one half of energy made, and california has 100% of its energy coming from the sun and wind power and so this is significant growth that's going to happen. we had benefits of being sponsored by blackstone for seven years now.
>> our spac is structured differently than virtually all other spacs. share in the promote. we only get our interest in the publicly traded company, agency the value of the spac or the value of the company goes up 10% above what the ipo price of the spac was and then grows from there. so, we are very aligned with our shareholders that's something that we wanted from the outset. we wanted that kind of dynamic we don't expect this to be the only spac. we want this to be a proud sponsor of...
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Jul 16, 2021
07/21
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and for them, spac's may be a great alternative. we announced nextdoor recently as a spac.hire gray is a great example of an opportunity. it is a technology company that has to be explained. and so, spac's play a larg role in these kinds of opportunities. emily: let's talk a little bit about berkshire gray, one of your longtime portfolio companies, planning a spac. this is a warehouse robotics company that counts target, fedex, walmart among its clients that helps to automate the supply chain. what do you think is so disruptive about their technology and what does that disruption mean? >> we started with berkshire when it was one founder alone. the opportunity came from the following fact. amazon is a serious technology company, has developed a lot of automation for itself. in a world where consumers are demanding immediate shipments and very low cost delivery, every part of the supply chain, from e-commerce to retail fulfillment to grocery to third-party logistics, they all have to be deeply automated. amazon is doing it for themselves. the opportunity for berkshire grey i
and for them, spac's may be a great alternative. we announced nextdoor recently as a spac.hire gray is a great example of an opportunity. it is a technology company that has to be explained. and so, spac's play a larg role in these kinds of opportunities. emily: let's talk a little bit about berkshire gray, one of your longtime portfolio companies, planning a spac. this is a warehouse robotics company that counts target, fedex, walmart among its clients that helps to automate the supply chain....
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Jul 27, 2021
07/21
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of the spac. in this deal, you have a couple of investors alongside you, blackstone, biking global are buying perpetual preferred equity. why is it important for you to do deals like this? martin: i don't think of this in terms of the spac world. if you like, this is a regular public company that is way past its period of being a spac. we needed about $800 million of additional equity. we could do this and keep our balance sheet conservative. why blackstone, biking? -- viking? they are our largest shareholders, have been fabulous supporters of us here at api. blackstone had a strategic interest in some time -- for some time in chubb. mary together our capabilities, the fact that we have real synergy from an industrial standpoint, combined with the fact that they own an awful lot of real estate where we have the opportunity to service them in their buildings, that is just icing on the cake. matt: i did not mean to compare that to a pipe, but just the idea of investing alongside experienced partners
of the spac. in this deal, you have a couple of investors alongside you, blackstone, biking global are buying perpetual preferred equity. why is it important for you to do deals like this? martin: i don't think of this in terms of the spac world. if you like, this is a regular public company that is way past its period of being a spac. we needed about $800 million of additional equity. we could do this and keep our balance sheet conservative. why blackstone, biking? -- viking? they are our...
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Jul 14, 2021
07/21
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she's backing away from chinese spacs.onado she has elle brands, everything's moving. that's matthew boss, jpmorgan. >> they do raise the guide lots of target increases on lb deutsch is at 99 jeffries goes to 75. >> bath and body works when you have a pandemic that's involving cleanliness, you want bath and body works i have to tell you that qualcomm is buyable after that apple position i'm not worried about the tiff, i think it's solved. newel brands, remember when that was headed down, down, down, that's over. >> they changed ceos. >> martin franklin is no longer involved bought his company >> can i go back to charlie scharf >> you're jumping all over the place here. >> i'm trying to cover every single company in the s&p 500. >> now we're looking at semiconductors just try to keep up a little bit here. >> now let's go back to wells fargo. go ahead. >> i think that wells fargo has gone from being the most hated to being the most amorous. >> really? >> yeahment. >> why >> because everyone knows in the end charlie scharf ge
she's backing away from chinese spacs.onado she has elle brands, everything's moving. that's matthew boss, jpmorgan. >> they do raise the guide lots of target increases on lb deutsch is at 99 jeffries goes to 75. >> bath and body works when you have a pandemic that's involving cleanliness, you want bath and body works i have to tell you that qualcomm is buyable after that apple position i'm not worried about the tiff, i think it's solved. newel brands, remember when that was headed...
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Jul 13, 2021
07/21
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years ago, long before the spac attack, goldman raised the acquisition. formally the ceo of honey well it was created in 2018 and they took their time finding a deal but after a year and a half of searching in december of 2019 they americaned with an interesting industrial company that makes power, thermal and information technology infrastructure solutions the vertiv got hammered by covid, they put up great numbers and the stocks spent the last 15 months from 13 to 27 and change. it wasn't a bogus get rich quick scheme just like the origin, they took their time searching for a deal and less than a month ago, they found one. they announced a merger with mirion technologies that makes equipment for radiation detection, measuring, monitoring and analysis they are buying mirion from a private equity firm. larry kingsly. really smart guy the number one player in the vast amount of categories he participates another 40% coming from the nuclear industry the rest from various markets. it is a real company, expanding profit margins unlike the recent deals we have
years ago, long before the spac attack, goldman raised the acquisition. formally the ceo of honey well it was created in 2018 and they took their time finding a deal but after a year and a half of searching in december of 2019 they americaned with an interesting industrial company that makes power, thermal and information technology infrastructure solutions the vertiv got hammered by covid, they put up great numbers and the stocks spent the last 15 months from 13 to 27 and change. it wasn't a...
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Jul 19, 2021
07/21
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bill ackman's spac dropping the bid for the label. music like lady gaga and taylor
bill ackman's spac dropping the bid for the label. music like lady gaga and taylor
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Jul 8, 2021
07/21
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that is amazing for spac. spac investors get the option to take a look.satellogic is amazing, so at cantor fitzgerald we invested $25 million in the company. we think this company is going to do incredible things and really change the course of data in space. i hate to say it, but space is the final frontier, and i think this is incredibly exciting that if the space market is vast, $ 144 billion addressable market annually with the data coming out of space, amazing. guy: howard, you talked about this being a huge advantage when it comes to esg. do you think governments are going to be comfortable withcom. we think this company is a private sector company taking this kind of level of detail over their country? what do you think of the security could potentially be here--security pushback could potentially be here? howard: in the united states, the history of satellites is someone would build a satellite for $800 million, and the military government would buy all the data. now satellogic is taking it to another level. before satellogic, it took $10 million
that is amazing for spac. spac investors get the option to take a look.satellogic is amazing, so at cantor fitzgerald we invested $25 million in the company. we think this company is going to do incredible things and really change the course of data in space. i hate to say it, but space is the final frontier, and i think this is incredibly exciting that if the space market is vast, $ 144 billion addressable market annually with the data coming out of space, amazing. guy: howard, you talked...
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Jul 13, 2021
07/21
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they are different from other spacs.oe is a leader in the supply of copper and nickel, very important raw materials for the battery industry. there is a lot of strategic fit with ivanhoe. in terms of why they picked us, it's very simple. they asked us to send the samples to third parties and we came out on top in terms of third-party tested data. we came out as the best. kailey: let's talk about the product you made that may be made you attractive to ivanhoe, lithium metal batteries. how are they different? qichao: today's batteries in ev are lithium-ion, and they don't have lithium metal. they use a mix of carbon and silicon as the material. we replace that carbon and silicon with a lithium metal. lithium metal is the lightest metal on the periodic table. that makes the battery much lighter and smaller. kailey: how do you think that positions you to compete? the ev and battery market are growing but it is also getting more crowded. qichao: yes. we have a strong capability. one, among all the next-generation battery tech
they are different from other spacs.oe is a leader in the supply of copper and nickel, very important raw materials for the battery industry. there is a lot of strategic fit with ivanhoe. in terms of why they picked us, it's very simple. they asked us to send the samples to third parties and we came out on top in terms of third-party tested data. we came out as the best. kailey: let's talk about the product you made that may be made you attractive to ivanhoe, lithium metal batteries. how are...
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Jul 6, 2021
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today via spac.rk stock exchange is alight solution stefan scholep you are in for a couple years ago. about there about a year and a half i can't notice the design attention in what alight does and the desire to weave together various aspects of the employees experience is that a big part of your pitch to investors to sort of take share in this space? >> absolutely, job jon thanks for having me on this morning. the whole human capital management space is fragmented unlike the client-facing world where you've written and talked about the last 20 years where any consolidated systems in the digital world. that never happened in the economy side what i've seen the last 15 months, employees crave the integrated personalized experience across health and wealth our mission is to help employees become financially secure and stay healthy and the pandemic has highlighted the absolute importance on bringing that together into one integrated, beautiful experience. >> and does that mean being better capitalized i
today via spac.rk stock exchange is alight solution stefan scholep you are in for a couple years ago. about there about a year and a half i can't notice the design attention in what alight does and the desire to weave together various aspects of the employees experience is that a big part of your pitch to investors to sort of take share in this space? >> absolutely, job jon thanks for having me on this morning. the whole human capital management space is fragmented unlike the...
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Jul 12, 2021
07/21
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those are flat four social capital biotech spacs that debuted in late june are also flat.ok executive has been the face of this spac renaissance this year so far chamath and his firm raised more than $4 billion for blank check companies. he's also promoting a lot of investments on social media with a very close retail investor following around what he's been backing. the social capital team has also been part of a handful of other deals as what they call the private investment in public equity or also commonly known as the pipe the list includes mp materials, it is a rare earth mining company, desktop metal, those returns are also a mixed picture. back to you. >> it is going to take some time to see how this performance shakes up. he wants a spac for every letter of the alphabet. >>> as we head to break, jpmorgan reiterating disney as the top pick in media in 2021. we talk about that one, the firm reiterating its overweight rating on netflix. the streaming giant could have its strongest six month content slate ever "techcheck" is back in a moment. - [announcer] dearest piz
those are flat four social capital biotech spacs that debuted in late june are also flat.ok executive has been the face of this spac renaissance this year so far chamath and his firm raised more than $4 billion for blank check companies. he's also promoting a lot of investments on social media with a very close retail investor following around what he's been backing. the social capital team has also been part of a handful of other deals as what they call the private investment in public equity...
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Jul 15, 2021
07/21
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you have sponsored multiple spacs.iven the many years you were a founder of micros systems and you have been an investor for some time, what is the opportunity you see that is new? >> spacs for another opportunity like an ipo or private equity funding. it is just a different vessel. if you look at the biotech industry, they have been able to do ipo's 5, 10 years before revenue. they need to project into the future, explain their future. ipo's have been available to them. many more areas of technology that fit the same model. for them, specs may be a great -- spacs may be a great opportunity. berkshire gray is a great example of an opportunity -- a great example -- berkshire gray is a great example of an opportunity. it is a technology company that has to be explained. spacs play a larger role in these kind of opportunities. emily: let's talk about berkshire gray. one of your longtime portfolio companies. this is a warehouse robotics company that counts target, fedex, walmart among its clients that helps to automate the
you have sponsored multiple spacs.iven the many years you were a founder of micros systems and you have been an investor for some time, what is the opportunity you see that is new? >> spacs for another opportunity like an ipo or private equity funding. it is just a different vessel. if you look at the biotech industry, they have been able to do ipo's 5, 10 years before revenue. they need to project into the future, explain their future. ipo's have been available to them. many more areas...
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Jul 29, 2021
07/21
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because you get more in terms of spice certainty with the spac and you don't have the same kind of, you know, price at this point, trading this way on day one. it's just an auction all that's -- >> you could probably go through the pros and cons in a lot of detail you mentioned the spacs having price certainty. i say look to the fall as long as the markets hold up we have an amazing pipeline of companies that are going to go public both routes but it really is an individual company decision and we've had so many ipos here do so well in addition to some that may have had a choppier debut. i don't think it's every company makes that call and they do on a variety of factors and again, i go back to optionality, we continue to hear they hear that there's different methodologies going public today and more unique ways to tap the public markets. >> who doesn't like optionality. kelly also has a question. >> couple of quick questions on the events of today, this afternoon, nelson. one is for those asking why aren't people wearing masks tightly gathered in a space crowded around the computer
because you get more in terms of spice certainty with the spac and you don't have the same kind of, you know, price at this point, trading this way on day one. it's just an auction all that's -- >> you could probably go through the pros and cons in a lot of detail you mentioned the spacs having price certainty. i say look to the fall as long as the markets hold up we have an amazing pipeline of companies that are going to go public both routes but it really is an individual company...
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Jul 7, 2021
07/21
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vinod: there are good things about spacs and bad things about spacs.tech has always been able to do ipo's without having revenues for 5-10 years. the ability to explain your future when it's different than your past, which we have seen the case of next-door accelerating growth, is a real benefit to companies when they are considering an ipo if it's a spac alternative, in my view. and you can eliminate the abuses in the spac market. for example, no warrant, longer lockups. companies are held to the samecq an ipo. i think it's a very good, important tool. the slowdown is healthy, and will result in better spac and better spac behavior. caroline: that is vinod khosla with next-door ceo sarah friar. the innovators in the world of decentralized finance. building synthetic versions of ways to track some big companies. tesla, apple, other big stocks that have been created by the project mirror protocol and synthetics as well. they are now trading on blockchain's and they reflect the prices of the securities they track without any actual purchases or sales of
vinod: there are good things about spacs and bad things about spacs.tech has always been able to do ipo's without having revenues for 5-10 years. the ability to explain your future when it's different than your past, which we have seen the case of next-door accelerating growth, is a real benefit to companies when they are considering an ipo if it's a spac alternative, in my view. and you can eliminate the abuses in the spac market. for example, no warrant, longer lockups. companies are held to...
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Jul 15, 2021
07/21
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want to get to our latest spac deal announcement.ew acquisition corp. 2 a publicly traded company. it is a publicly traded company but now doing its deal the company in question is heart flow it's a leader in revolutionizing precision heart care dr. john stephens runs the company and larry robbins who runs lend strew and a lot of other views as well. doctor, let me begin with you in terms of the transaction the company has been around some time you have great words associated whether it's a.i. and cloud-based and software as a service. what is that you have done that you claim is revolffizing the w that those who look at blood flow when susomebody has a hear issue enables them to do. >> it's way more than words. it's about what we do to help pres patient care there are about one out of three deaths in america are due to cardiovascular disease today the solutions that we have had to date are fundamentally flawed they are just inaccurate half the time people get a test their doctor sends them and it's falsely positive and a quarter of
want to get to our latest spac deal announcement.ew acquisition corp. 2 a publicly traded company. it is a publicly traded company but now doing its deal the company in question is heart flow it's a leader in revolutionizing precision heart care dr. john stephens runs the company and larry robbins who runs lend strew and a lot of other views as well. doctor, let me begin with you in terms of the transaction the company has been around some time you have great words associated whether it's a.i....
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we issued our spac in december., or. and we have been working together in partnership with jeremy and his team since january to try and get to where we got in to our announcement today. i couldn't be happier. it's just what we were with envisioning, something around degeneratival currency and blockchain, something about payments, something about treasury and transaction services. but when it comes together with a domain expert who's been terrific at executing the game plan, we're very, very excited. we think it's early in the game for stable coins. liz les really in the game for stable cone cans. give me a sense of circle and its involvement in this visa clip. cocard -- crypto card. tuesday we had zac prince of blockfi, we had -- they've seen a billion dollars otter of use from their a customers. you know, is that just a tip of a spear? enter how much more will we see? >> well, if you think about it, if you just think very, very simply about a financial transaction between two people, it usually requires a middleman
we issued our spac in december., or. and we have been working together in partnership with jeremy and his team since january to try and get to where we got in to our announcement today. i couldn't be happier. it's just what we were with envisioning, something around degeneratival currency and blockchain, something about payments, something about treasury and transaction services. but when it comes together with a domain expert who's been terrific at executing the game plan, we're very, very...
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Jul 21, 2021
07/21
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spac. joining us to discuss the public debut inflation as well as housing market is the ceo, doug cahill. talk about the decision to go with a spac. we have seen a lot of interest that has turned in terms of public investing but now we are finally to see the blank check companies do deals. why did you go with a spac? doug: we had been owned by private equity the previous 15 to 20 years, and the opportunity with our relationship with watching these companies go public, rich handler and tillman completely got our story and understood what hillmon was all about. -- hillman was all about. for years, we have been publicly reporting so it was not long to get there. matt: what do you want to do in terms of the proceeds, in terms of investment, in terms of moving forward? doug: we will take all of the proceeds and pay down debt. we are excited about that, the balance sheet will be much stronger and will enable us to continue to keep up with our great customers like lowe's and depot. it also will gi
spac. joining us to discuss the public debut inflation as well as housing market is the ceo, doug cahill. talk about the decision to go with a spac. we have seen a lot of interest that has turned in terms of public investing but now we are finally to see the blank check companies do deals. why did you go with a spac? doug: we had been owned by private equity the previous 15 to 20 years, and the opportunity with our relationship with watching these companies go public, rich handler and tillman...
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Jul 19, 2021
07/21
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purportedly scuttled this deal, will it scuttle others the spac deal index minimal move today suggeststoo concerned at this point in time, just down .3%. >> this says so much about the spac world as well as what ackman says in -- as the potential to the music industry. thanks, leslie >>> goldman is a little more hopeful on qualcomm this morning. upgrading the stock to neutral shares are falling today with the rest of the market there is a lot more "techcheck" straight ahead competition beat us again. how? they have a better finance system than we do. i feel like they might have a better finance system than we do. workday. how do they make better decisions faster? workday. it's got to be something workday. i think i got something. work... hey, rob, you're on mute. hello! hey, rob, there he is. workday. the finance, hr and planning system for a changing world. >>> the worst performers on the dow today, putting them on the screen as we head to break there is a lot more "techcheck" still ahead. stay with us icy hot. ice works fast. heat makes it last. feel the power of contrast therapy, so
purportedly scuttled this deal, will it scuttle others the spac deal index minimal move today suggeststoo concerned at this point in time, just down .3%. >> this says so much about the spac world as well as what ackman says in -- as the potential to the music industry. thanks, leslie >>> goldman is a little more hopeful on qualcomm this morning. upgrading the stock to neutral shares are falling today with the rest of the market there is a lot more "techcheck" straight...
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Jul 12, 2021
07/21
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all things spac, all things space.aine: the zero revenue thing, we used to have those, those were called private companies. they sort of waited until they had revenue. joe: 2020. romaine: it is actually 2021. caroline: that does it for "what'd you miss?" joe: "bloomberg technology" is next. romaine: have a great evening. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announce
all things spac, all things space.aine: the zero revenue thing, we used to have those, those were called private companies. they sort of waited until they had revenue. joe: 2020. romaine: it is actually 2021. caroline: that does it for "what'd you miss?" joe: "bloomberg technology" is next. romaine: have a great evening. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not...
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Jul 1, 2021
07/21
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spac report. you know, this is what -- it's like going to the dentist. >> it is it is like going to the dentist. spac report. speak of the devil. >> he's actually got them taped up too these -- >> holy -- my god. >> to be fair, jim, your report is like the font -- >> you look fabulous. >> very small print on this report. >> i've got a molar that i could use a little work on there, doc. >> what happened here is basically that a lot of people thought sanjay was going to say, look, demand is so overwhelming, it doesn't matter what we could do there's not enough machines being made in order for us to be able to meet demand. he was pressed several times, and he did not go there. a lot of people were saying that sanjay did not give you what you wanted, and they tried and tried and tried. i suggest you try again. i bet you he recognizes that he was too negative. >> two other bullet points on chips today. we mentioned amd getting eu clearance on pzylinks. nvidia, who goes to the street high. >> $1,000. th
spac report. you know, this is what -- it's like going to the dentist. >> it is it is like going to the dentist. spac report. speak of the devil. >> he's actually got them taped up too these -- >> holy -- my god. >> to be fair, jim, your report is like the font -- >> you look fabulous. >> very small print on this report. >> i've got a molar that i could use a little work on there, doc. >> what happened here is basically that a lot of people...
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Jul 22, 2021
07/21
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spacs are huge. i think you're going to continue to see more and more spacs come to market.cellularity kind of companies, you've got biotech companies, these innovators, these disrupters. i think it's great overall for innovation. when you look at a company like cellularity in particular, there's a lot of other companies, recent spacs that we like, such as alpha healthcare. when you look at these and you kind of go back over the course of the last 15 to 18 months, the whole covid pandemic, i think one of the really great things at the end of the day that we're going to come out this thing with, is knowing we've seen a drastic acceleration in the innovation in healthcare, which is a great thing. maria: and innovation in raising money, right? i mean, the spac route is an innovation in and of itself. let's see if the doctor can hear me now. doctor, are you with us? >> i can hear you. good morning, maria. maria: hey, it's good to see you again. thanks very much for being here, doc. you took the company public via spac. and my first question was, why did you choose that route? i
spacs are huge. i think you're going to continue to see more and more spacs come to market.cellularity kind of companies, you've got biotech companies, these innovators, these disrupters. i think it's great overall for innovation. when you look at a company like cellularity in particular, there's a lot of other companies, recent spacs that we like, such as alpha healthcare. when you look at these and you kind of go back over the course of the last 15 to 18 months, the whole covid pandemic, i...
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Jul 28, 2021
07/21
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the spac bonanza she was talking about will be -- even if spac's slow down there will still be dealsve the timeline. queen's gambit growth capital is the first entirely led growth capital. it will take swivel published -- it will take swivel public. will be the first billion plus dollar company from that region to list on the nasdaq. joining me is victoria, ceo of queens gambit capital. thank you for joining. seeing these kind of deals from the u.s., dubai is unusual. why this deal, how did you find it, and why did you like it? victoria: so excited, today's a big day. we wanted to apply the company where we could meet all of our objectives. we wanted to make sure it was right fundamentals for us and make sure it has the same mission laments we were set up to do, which is esg, social justice, climate change, and things like that. we are excited about this particular deal. we think they are in the right place and the right market. they have done something incredibly advantageous for a lot of underserved populations in emerging markets, where you have access to reliable and safe transit
the spac bonanza she was talking about will be -- even if spac's slow down there will still be dealsve the timeline. queen's gambit growth capital is the first entirely led growth capital. it will take swivel published -- it will take swivel public. will be the first billion plus dollar company from that region to list on the nasdaq. joining me is victoria, ceo of queens gambit capital. thank you for joining. seeing these kind of deals from the u.s., dubai is unusual. why this deal, how did you...
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Jul 7, 2021
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are more women becoming involved in spac? yes.the main reasons is because we saw the opportunities and the need for more women to come into spac. especially women of color. i think the barriers are twofold. i remember one time a coach told me if you want to play the game, you have to become a student of the game. once you know how to play the game and understand the rules of the game, you cannot be denied. and i think women now will go into spac and expect the market even more because they are seeing women. isabel and i make bold moves. i intend to see this. i know we intend@■xf■ to see moe women now flooding the market and coming into it, because they have the expertise already. matt: phyllis, thank you very much for your time. thank you for your service as well. phyllis newhouse is the ceo of athena technology, and they have just taken heliogen public in a $2 billion deal. let's get a quick check of what is going on in the markets. we have had a recovery in stocks,. . to some extent. to be fair, we were not down too much and we
are more women becoming involved in spac? yes.the main reasons is because we saw the opportunities and the need for more women to come into spac. especially women of color. i think the barriers are twofold. i remember one time a coach told me if you want to play the game, you have to become a student of the game. once you know how to play the game and understand the rules of the game, you cannot be denied. and i think women now will go into spac and expect the market even more because they are...
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Jul 21, 2021
07/21
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this is a fox business exclusive a rare occurrence is happening in spac-land in this final hour. a fintech startup making its public debut today, has stronger financials than most of its already public and larger competitors. up 5 ceo joins us live along with his spac benefactor, joe mo glia of td ameritrade and wait until he sees the trading action and we got to start with this breaking news, after a manic sell-off monday, followed by a terror tuesday, we're looking at a winning wednesday, check it now major averages are positive on the week, dow jones industrial is up 260 points, the nasdaq better by 103, the s&p as you see up 31, we do have the vix, right? the stress is seeping out of the vix or volatility index because it is down by about 8% at the moment and speaking of volatility, exhibit a. the vix living up to its name. the first two days of this week, monday, fear in full control as the vix spiked about 22%, but then yesterday, more than half of those jitters disappeared thanks to a 12% drop. look at what stocks have been through just the first two days of this week. inv
this is a fox business exclusive a rare occurrence is happening in spac-land in this final hour. a fintech startup making its public debut today, has stronger financials than most of its already public and larger competitors. up 5 ceo joins us live along with his spac benefactor, joe mo glia of td ameritrade and wait until he sees the trading action and we got to start with this breaking news, after a manic sell-off monday, followed by a terror tuesday, we're looking at a winning wednesday,...
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Jul 27, 2021
07/21
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dani: they are making it easier to become a spac to get more spac's into this market.ing up, we speak with max kettner, hsbc asset strategist. probably doesn't have much to say about spac's at this point, but there's plenty more to watch, from delta to inflation. this is bloomberg. ♪ (announcer) looking for a better way to lose weight and feel good? how about the one with the 98% success rate and the more affordable weight loss solution? that's golo. there are no monthly fees and it's guaranteed to work or you don't pay. how can golo offer all of that? because it's not like any of those diets you've already tried. it's the new way to lose weight. no stimulants, no starving, just results. results you'll keep for life. no more sacrificing to lose weight only to put it back on. no more sacrificing, period. it improves your lifestyle and delivers incredible results. with over 2 million satisfied customers, golo is the new way to lose weight. this is the only program i have ever done that i have never deprived myself of anything. (announcer) if what you're currently doing t
dani: they are making it easier to become a spac to get more spac's into this market.ing up, we speak with max kettner, hsbc asset strategist. probably doesn't have much to say about spac's at this point, but there's plenty more to watch, from delta to inflation. this is bloomberg. ♪ (announcer) looking for a better way to lose weight and feel good? how about the one with the 98% success rate and the more affordable weight loss solution? that's golo. there are no monthly fees and it's...
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Jul 6, 2021
07/21
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you mentioned mastro's the fertitta spac will now have mastro's along with vic and anthony's and catch. when is this thing going t market and when is it going to be public for the rest of us >> i'm going to tell you i owned 100% of my company and i chose to take x amount public and keep certain things, but the high ending was doing so well. it delevered the company even so much more that it gave me the ability with the market booming out there to go out and do a huge acquisition or multiple pretty big acquisitions because it delevered me so much. i just looked at the whole thing and said this is what's best for today. this is what's best for me as a shareholder that will own 72% of the company. and i think it was the right thing to do the way the world is today. >> all right one more on this and then we've got to ask you about basketball before we let you go but on this spac deal, you know, i know we've talked about why you're going this route. it still seems maybe you could have done better on a traditional ipo route but long story short, when you get the proceeds, what are you doing
you mentioned mastro's the fertitta spac will now have mastro's along with vic and anthony's and catch. when is this thing going t market and when is it going to be public for the rest of us >> i'm going to tell you i owned 100% of my company and i chose to take x amount public and keep certain things, but the high ending was doing so well. it delevered the company even so much more that it gave me the ability with the market booming out there to go out and do a huge acquisition or...
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Jul 29, 2021
07/21
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they were also the poster child for spac's.ir market cap was more than ford's at one point, $29 billion. they made little progress on their technology. they are still pre-revenue. they are still in prototype phase. investors have to think again about how they treat these companies that have chosen to go public via spac with promises about new vehicle technology. shery: coming up, we speak to the former federal reserve bank of philadelphia president and ceo charles plosser about why he thinks the fed is in a pickle. that exclusive interview just ahead. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no be
they were also the poster child for spac's.ir market cap was more than ford's at one point, $29 billion. they made little progress on their technology. they are still pre-revenue. they are still in prototype phase. investors have to think again about how they treat these companies that have chosen to go public via spac with promises about new vehicle technology. shery: coming up, we speak to the former federal reserve bank of philadelphia president and ceo charles plosser about why he thinks...
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Jul 19, 2021
07/21
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won't the spac lives on.o eliminate the spac as it was, create a spark and yet another version, still have a lot of money left to do another deal now he has the largest spac yet again and the real question as to whether there is anything he can find because many people believed he came to this transaction difficult to find a company large enough to do a deal with. >> if you have $5 billion sitting in a trust you are taking a minority tstake in a company, a massive company to do a deal with. the question remains, you have done this deal it didn't go through, or at least he says the s.e.c. didn't want it to go through. now you are looking at maybe a plan b of sorts, but clock is ticking. you have already spent a year kind of consummating this transaction. now you have another year to do something. to your point, the supply of companies may be limited he said that -- and i thought this was interesting he said, in am one, he could distribute dividends as a way to minimize the trust that he has and potentially go
won't the spac lives on.o eliminate the spac as it was, create a spark and yet another version, still have a lot of money left to do another deal now he has the largest spac yet again and the real question as to whether there is anything he can find because many people believed he came to this transaction difficult to find a company large enough to do a deal with. >> if you have $5 billion sitting in a trust you are taking a minority tstake in a company, a massive company to do a deal...
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Jul 2, 2021
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we had one de-spac yesterday astra trading higher so virgin galactic in many ways has benefitted from names to trade, that is going to start to change and increase, and buffer out, as well speaking of bezos, today is his last trading day as amazon's ceo, and for more on how this transition could impact investors, we are joined by jeffries, brent thanks for being with us today. >> good morning. >> key things that investors need to know as jack takes the reins. >> i think having a software back ground is important, high margin, and so many vast things to do in the econ, media business, and maybe he is not aware of and doesn't know as much and a low margin business and does he emphasize the higher occurring revenue streams. i think the answer is yes but delegate others to fill in the gaps of the other businesses so i look at it and saying, that you have a ceo in now that really appreciates what we think is the most exciting element to this story, which is, you know, the ad business, which is high margin, and the software business in the u.s., so we think they're in great shape with his p
we had one de-spac yesterday astra trading higher so virgin galactic in many ways has benefitted from names to trade, that is going to start to change and increase, and buffer out, as well speaking of bezos, today is his last trading day as amazon's ceo, and for more on how this transition could impact investors, we are joined by jeffries, brent thanks for being with us today. >> good morning. >> key things that investors need to know as jack takes the reins. >> i think having...
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Jul 16, 2021
07/21
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there are good spacs and bad spacs.rofits just an moon shots how are you posing yourself as different? >> that's a great question we looked at the different routes to potential take this company public i think what is unique, is the customers we work with and differentiated proposition we have today resonates with our customers. in 2020 we were just under $150 million. we have strong profitability and strong precash flow. it's because of the customers we serve, the differentiated solution we are able to offer, so we think, you know, this is the right time for us to go public, and we look at the macro trends that align incredibly well with the fathom manufacturing platform so we're excited about where we're at and the future opportunity we have ahead of us, sara. >> ryan, is there a limit to what can be 3-d printed? will everything be done at that point? >> i truly believe 3-d printing will be the way products of designed, developed and manufactured, but i also believe the 3-d printing is not a solution for everything. w
there are good spacs and bad spacs.rofits just an moon shots how are you posing yourself as different? >> that's a great question we looked at the different routes to potential take this company public i think what is unique, is the customers we work with and differentiated proposition we have today resonates with our customers. in 2020 we were just under $150 million. we have strong profitability and strong precash flow. it's because of the customers we serve, the differentiated solution...
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Jul 9, 2021
07/21
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can't buy the little company to begin with >> to be honest, we have a lot of people to dip down with spacs and the likely listings where we need to be conscious this could be amazing for an extra like the pc city growing up and not being built-in side of a microsoft or google it will create more companies and transactions we'll see some of these big tech giants will span out and there might be some things going on wra. >> ib ever and maybe you guys should bay some money. >> you are an early investor the s 1 letter highlights of robin hood users are buy and hold sna kind of investor good for the business >> i am an angel investor. i was in long before they went public what is very unique about this time, we have a generation growing up -- >> yeah. but there is in model. >> hold on you got to let me finish this group of people is going to be so sophisticated in their 30s and 40s and that's why they are going significantly. >> you are saying eventually they'll be longer term investigators. >> let me read you the numbers >> hold on when you are learning new new skill, you start at the kiddy ta
can't buy the little company to begin with >> to be honest, we have a lot of people to dip down with spacs and the likely listings where we need to be conscious this could be amazing for an extra like the pc city growing up and not being built-in side of a microsoft or google it will create more companies and transactions we'll see some of these big tech giants will span out and there might be some things going on wra. >> ib ever and maybe you guys should bay some money. >>...
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Jul 30, 2021
07/21
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and, you know, as we all know spacs are trading around the new issue price. and you know, i view the -- i view spacs as an option on euphoria and so some of them are working well and some of them aren't. and the ones that you don't see performing well when you get to that moment, you just basically elect to take your money back or sell it into the market if it's trading better than where the ipo came >> shannon has a question for you. shannon >> thanks, scott, really spesht the piece this morning in the area are you laid oh where we are talking about lower interest rates and fed on the sideline any sort of correction in my mind would reaccelerate the trend we have already seen from sort of value and epicenter stocks into growth stocks. you couple that with potentially some concerns about the behavioral response of the delta variant. you know, why wouldn't you instead of selling out just be rotating into some of the higher quality, high balance sheet growth stocks of the period? >> well, you know, it's interesting, because we typically don't have mandates that
and, you know, as we all know spacs are trading around the new issue price. and you know, i view the -- i view spacs as an option on euphoria and so some of them are working well and some of them aren't. and the ones that you don't see performing well when you get to that moment, you just basically elect to take your money back or sell it into the market if it's trading better than where the ipo came >> shannon has a question for you. shannon >> thanks, scott, really spesht the...
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Jul 28, 2021
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and we will discuss the state of the spac and ipo markets.athleen smith of renaissance capital will be one of the first exchange traded funds. let's take a quick look at what's going on in the markets. not a lot of movement on the broader s&p right now. down only by 61 hundredths of 1%. it's more of again if you look at the nasdaq. a lot of the big tech stocks are moving higher. apple is not and that's weighing out, having a barbell effect. the 10 year yield is edging up a little, as is the bloomberg dollar index. you could see the gain up. and of course, trading is a little lighter than usual, typically the traders will sit on their hands and wait to digest the release before they start to trade and the volume picks up in the afternoon through the press conference and beyond. so the rate decision is due out in less than one hour. all eyes are on inflation. here's what our guests had to say. >> it does look like the fed is going to talk a little bit about when they plan to taper. at the moment we expect this will be fairly balanced. >> stay c
and we will discuss the state of the spac and ipo markets.athleen smith of renaissance capital will be one of the first exchange traded funds. let's take a quick look at what's going on in the markets. not a lot of movement on the broader s&p right now. down only by 61 hundredths of 1%. it's more of again if you look at the nasdaq. a lot of the big tech stocks are moving higher. apple is not and that's weighing out, having a barbell effect. the 10 year yield is edging up a little, as is the...
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Jul 15, 2021
07/21
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you are coming by way of a combination of a spac that was called back in the fall, came back as an ipoarket seem more receptive to you now? adam: we looked at the spac opportunity and decided to move ahead with the transaction group that enabled us to strengthen the balance sheet. a traditional ipo was always our preference. we are thrilled to be here today listing the company. kailey: you had first filed for an ipo in january, the spac deal called off in october, about times at which the pandemic was an issue when we saw gyms shut down. now that they are back open, what is the demand recovery for f45? are people coming in or do they want to stay at home? adam: that is one of the most important questions you can ask. we are seeing the bounce back stronger than pre-covid numbers. the way we measure that is by visitation. our visitation is over 2.65 times a week, which is a great measurement on the fact that people want to get back to gyms. people want to get back to restaurants, be a part of the community again. we are excited where we are at. 91% of our network is reopened, so we are l
you are coming by way of a combination of a spac that was called back in the fall, came back as an ipoarket seem more receptive to you now? adam: we looked at the spac opportunity and decided to move ahead with the transaction group that enabled us to strengthen the balance sheet. a traditional ipo was always our preference. we are thrilled to be here today listing the company. kailey: you had first filed for an ipo in january, the spac deal called off in october, about times at which the...
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Jul 8, 2021
07/21
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be wrong to say here's what i would do with that spac i have to do more work i apologize.> oh, boo-yah how are you? >> caller: the ticker -- my stock is upstart ticker symbol -- >> i do not understand the short position in upstart. why don't the mean people, the ape sters go after that company? it is good artificial intelligence. would you please go after something good and that, ladies and gentlemen, is the conclusion of "the lightning round. [ buzzer ] >> announcer: "the lightning round" is sponsored by td ameritrade coming up, have zoom, will travel find out how a mobile workforce is changing the economy in ways you won't believe. next >> announcer: tomorrow, kick off the trading day with "squawk on the street." live from post 9 at the nyse >> jim, it's been a pleasure. >> it's been fantastic. >> yeah. >> yes, jimmy. >> teacher, i really liked this class today. >> i'm glad. >> apple tomorrow and a bagel. >> thank you. >> announcer: it all starts at 9:00 a.m. eastern. >> announcer: it's a brutal full contact sport. >> from the time there were some blows traders bracing f
be wrong to say here's what i would do with that spac i have to do more work i apologize.> oh, boo-yah how are you? >> caller: the ticker -- my stock is upstart ticker symbol -- >> i do not understand the short position in upstart. why don't the mean people, the ape sters go after that company? it is good artificial intelligence. would you please go after something good and that, ladies and gentlemen, is the conclusion of "the lightning round. [ buzzer ] >> announcer:...
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Jul 12, 2021
07/21
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it's more bi-modal where you have a lot of speculative excess in things like the meme stocks, spacs,are trading at single digit p/e multiples. the stuff we like at oakmark it's not because they're so exciting, it's the names that are cheap that have been left behind there's a lot of value if you stay in that half of the stock market >> where does that leave with you google and facebook? google closed at a new record high >> both alphabet and facebook are victims of gap accounting made for a tangible asset world. both invest heavily and if you make adjustments for their money losing assets, the venture cap, we think we're able to buy the basic businesses of google search and instagram as well as the basic facebook site and with alphabet you have a weird anomaly going on right now because of their share repurchase only happening in the nonvoting shares you can save $70 a share buying alphabet you're getting paid $70 a share to accept the ability to vote. we think that makes it a value squared, a cheap stock to begin with and you're getting it extra cheap. >> my notes say you like three
it's more bi-modal where you have a lot of speculative excess in things like the meme stocks, spacs,are trading at single digit p/e multiples. the stuff we like at oakmark it's not because they're so exciting, it's the names that are cheap that have been left behind there's a lot of value if you stay in that half of the stock market >> where does that leave with you google and facebook? google closed at a new record high >> both alphabet and facebook are victims of gap accounting...
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Jul 9, 2021
07/21
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BLOOMBERG
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howard: the spac market is an existential threat to private equity.y companies like this could raise money. now the public has a chance, many of these companies are earlier in their life cycle than a traditional ipo, but this is a way for investors to getting earlier and where the private equity guys got to percent, 20% of the profit, -- get 2%, when you percent of the prophet now they invest and raise enough to get daily satellite images of every inch of the earth. think of that for esg, for insurance companies, it is amazing that people can invest in it now. with respect to fraud, this is another way of doing an ipo. when the ipo markets are fraught, spac will be. >> we want to get to the specifics, imagine how fast they are. deciding regulators have not been able to keep up? -- does that mean regulators have not been able to keep up? >> you have to go through a nine month process before you can go public, where is with a spac, it is already public. you can put out your information directly to investors and investors can decide whether they like the
howard: the spac market is an existential threat to private equity.y companies like this could raise money. now the public has a chance, many of these companies are earlier in their life cycle than a traditional ipo, but this is a way for investors to getting earlier and where the private equity guys got to percent, 20% of the profit, -- get 2%, when you percent of the prophet now they invest and raise enough to get daily satellite images of every inch of the earth. think of that for esg, for...
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Jul 5, 2021
07/21
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it particularly has to be said in terms of tech, data e encryption companies taken out by spac.ly the uk company it is very clear the private way is going one way you look at morrisons and you see why. >> john, we've had lower interest rates before and for a long time if you look at history. it doesn't feel like this is the only catalyst. what jumps out to me is market perfo performance, but pent-up demand and esg. we have seen them spinning off assets to unlock value it is different this time around it is a fight for survival to remake companies so they are fit for the next decade. >> the fight for survival. i think also the identification of the opportunity every single panel that i chair in the last 18 months or so has turned into the panel about esg. regardless of whether it is about private equity or ipo market every single panel eventually becomes about esg. obviously we are hoping that the conference will still take place at the end areof the year in the uk it is the case that companies have to reorient with a view to that changing. not just the changing regulations, but
it particularly has to be said in terms of tech, data e encryption companies taken out by spac.ly the uk company it is very clear the private way is going one way you look at morrisons and you see why. >> john, we've had lower interest rates before and for a long time if you look at history. it doesn't feel like this is the only catalyst. what jumps out to me is market perfo performance, but pent-up demand and esg. we have seen them spinning off assets to unlock value it is different this...
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Jul 22, 2021
07/21
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BLOOMBERG
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ev maker faraday future has gone public today via a spac merger., carsten breitfeld is down there on the nasdaq floor. he will talk to us next. this is bloomberg. ♪ amber: this is bloomberg markets. i'm amber kanwar. with matt miller. you may have seen this, mercedes announcing a $47 billion spending plan to electrify its fleet. it says it will unveil a fleet of electric only vehicles, high end luxury vehicles, the ones mercedes are known for, by 2025. even with that spending plan of $47 billion over the next decade, they say that does not affect their profitability targets. that kind of stands in contrast to ev maker tesla, where profitability is a relatively new concept for them. matt: it is very expensive to develop a new car. i'm talking about just an internal combustion engine. it takes a long time to develop new cars, about five years from idea to production, even for these big carmakers that do it for a living. german carmakers have been late to the party. we heard a similar gigantic investment number from volkswagen over the past couple of
ev maker faraday future has gone public today via a spac merger., carsten breitfeld is down there on the nasdaq floor. he will talk to us next. this is bloomberg. ♪ amber: this is bloomberg markets. i'm amber kanwar. with matt miller. you may have seen this, mercedes announcing a $47 billion spending plan to electrify its fleet. it says it will unveil a fleet of electric only vehicles, high end luxury vehicles, the ones mercedes are known for, by 2025. even with that spending plan of $47...
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Jul 12, 2021
07/21
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BLOOMBERG
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kailey: why did you do so through a spac instead of traditional ipo, especially when spacs have seemr? john: i think the life of a company is with the company does. markets change. the fact that the spac market is going through a transition does not really bode for what the successes going to be of the company. we feel comfortable with our company. it is transparent because you can look at the civil dockets and the civil dockets and you know what we do. it is one of those companies where you can visually look up public documents and understand what we do unlike some other companies that is difficult to look at. because we have done so much due diligence in the last six to seven years we have done due diligence by every major law firm, every major health plan. we felt that was the right opportunity for us. kailey: i mean, so people understand, you are an arbitrage. you take a cut for reclaiming money. would you agree you should not be in business or this money should not go astray? is that not a risk? john: no, it is not a risk because this is a perpetual issue. what happens in the he
kailey: why did you do so through a spac instead of traditional ipo, especially when spacs have seemr? john: i think the life of a company is with the company does. markets change. the fact that the spac market is going through a transition does not really bode for what the successes going to be of the company. we feel comfortable with our company. it is transparent because you can look at the civil dockets and the civil dockets and you know what we do. it is one of those companies where you...