[oneelectron]

I see that it could displace VC somewhat in dollar amount, but there are some serious bottlenecks around filing with the SEC and getting listed to where it'd be prohibitive for a large number of companies to start that way. It's definitely a lot harder, more all-or-nothing, and more time consuming than getting a million-dollar SAFE and building a prototype. And SPACs are also dependent on consuming those "traditional" companies to fulfill their empty promise. What feels most intuitive though is the propagation/decline of SPACs will simply be based on the successes/failures of the SPACs we're watching now. Tech and finance seem to have few mechanisms outside of pattern matching what got their predecessors rich.

[tempsy]

yeah I’m not suggesting that SPACs are appropriate for pre-product startups. I see them replacing VCs in what would otherwise be a growth stage round eg post Series A/B.

So we will still have angel and seed/early stage investors, but I see SPACs easily competing with what would otherwise be large late stage or growth rounds that the big VC firms are most active in.