<story><title>The median return of 2022&apos;s SPAC mergers: -82%</title><url>https://pranshum.yarn.tech/24dade67-68e3-4e18-b597-94acfab46a61</url></story><parent_chain><item><author>hn_throwaway_99</author><text>I&amp;#x27;m always somewhat amazed that Chamath Palihapitiya doesn&amp;#x27;t have a much worse reputation:&lt;p&gt;1. My understanding is that he was the primary initial architect of &amp;quot;A&amp;#x2F;B testing for engagement&amp;quot; at Facebook that turned social media into a tribalistic, outrage generating machine (nothing engages like hate), and that the rest of SV essentially copied. I think this trajectory would have happened regardless, but he was first, so to speak.&lt;p&gt;2. He was the primary booster of selling the shit sandwiches known as SPACs as filet mignon. I&amp;#x27;m sure he made out, any downstream investors not so much.</text></item></parent_chain><comment><author>Ozzie_osman</author><text>The interesting thing is a few years ago (before becoming the &amp;quot;SPAC King&amp;quot;) he did a media tour where he criticized Venture Capital as being a &amp;quot;massive Ponzi scheme&amp;quot;. [1]&lt;p&gt;Then he went all-in on SPACs... Which ended up being the ultimate Ponzi.&lt;p&gt;[1] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.cnbc.com&amp;#x2F;2018&amp;#x2F;10&amp;#x2F;10&amp;#x2F;start-up-economy-is-a-ponzi-scheme-says-chamath-palihapitiya.html&quot; rel=&quot;nofollow noreferrer&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.cnbc.com&amp;#x2F;2018&amp;#x2F;10&amp;#x2F;10&amp;#x2F;start-up-economy-is-a-ponzi-...&lt;/a&gt;</text></comment>
<story><title>The median return of 2022&apos;s SPAC mergers: -82%</title><url>https://pranshum.yarn.tech/24dade67-68e3-4e18-b597-94acfab46a61</url></story><parent_chain><item><author>hn_throwaway_99</author><text>I&amp;#x27;m always somewhat amazed that Chamath Palihapitiya doesn&amp;#x27;t have a much worse reputation:&lt;p&gt;1. My understanding is that he was the primary initial architect of &amp;quot;A&amp;#x2F;B testing for engagement&amp;quot; at Facebook that turned social media into a tribalistic, outrage generating machine (nothing engages like hate), and that the rest of SV essentially copied. I think this trajectory would have happened regardless, but he was first, so to speak.&lt;p&gt;2. He was the primary booster of selling the shit sandwiches known as SPACs as filet mignon. I&amp;#x27;m sure he made out, any downstream investors not so much.</text></item></parent_chain><comment><author>paxys</author><text>Having a billion dollars in your bank account is all the reputation that is needed. He could murder someone in broad daylight and would still have a long line of Twitter simps and &amp;quot;influencers&amp;quot; cheering him on.</text></comment>