You are generalizing too ambitiously. It is true that (for the most part) reputable companies do not need SPACs. However, that is not the same as saying there is a close-to-zero chance for a SPAC to land a high quality company.
I have numerous friends in IB who specialize in this, and I have been told that $PSTH has a high chance of landing a 'quality' target. The scale of $PSTH is huge ($4 billion guaranteed capital + $1 billion-committed capital from $PSH which can be extended for a further $2 billion). This is $5bn-$7bn guaranteed capital. In fact, this is one of the biggest IPOs on the NYSE (IPO for the vehicle Pershing Square Tontine Holdings). As Ackman has said numerous times in interviews, many companies that are planning to go public do not like uncertainity. This is a way to avoid that. Not to mention the fact that in late-2020 Ackman confirmed he is launching PSTH2 which appears to have the exact same structure; high amounts of guaranteed capital, low dilution & fees.
Of course, "high quality companies" is a subjective term, however, I have no doubt that any company obtaining $5 billion after the reverse-merger will be a company well-established in thier respective field and can be argued as being "high quality". For the record, I do believe there is a close to zero chance of $PSTH reverse merging with Stripe or Starlink. I think they were founded on pure speculation by various other social media communities.
Elon already said Starlink is not going public for a while because it doesn't have the cash flow yet. Ackman said on BLOOMBERG TV that Stripe & Airbnb said they were not interested in using his SPAC. Patrick and John Collison have both been very anti going public and so I doubt they will have a change of heart. They also have voting control of the company.
The only real possibility is Bloomberg LP, although Bloomberg had denied the rumors.
It's also funny that everybody seems to forget about Valeant and Herbalife...
"The only real possibility is Bloomberg LP, although Bloomberg had denied the rumors"
And how did you come to this conclusion? There are many, many private companies that fit the criteria outlined in the S1.
"It's also funny that everybody seems to forget about Valeant and Herbalife... "
I have not met a single person who does not think of those events when discussing about Ackman. In fact, during his COVID-19 short & CNBC interview, there was no shortage of discussion about Valeant and Herbalife on financial twitter/Reddit/news comments.
There’s a good number of reputable top of the industry companies who went the SPAC route. Off the top of my head: United Wholesale Mortgage, DraftKings, Desktop Metal, ChargePoint
An activist investor is a kind of value investor. "These assets are worth more than the market says - the discount is bad management. Let's buy the assets cheap (good value) and change the people who, as owners, we pay to manage those assets."
The idea that such an approach is anything but value and anything but completely normal and somehow rebellious and untrustworthy is quite weird and speaks to some kind of capture of highly paid management position by some kind of group of people. (I really hesitate to use the word "class" because these people might be a temporary alliance including the born poor and status challenged - the marxist "born to it" doesn't help the analysis much at all. Think the cool, sports jock table at high school).
As opposed speculator. "It's going up, i just know it." Or market makers, or technical analysts, or reading tea leaves...etc
Value investor suggests you have valued the assets and have reason for thinking they are underpriced. Shareholders own the company's assets. Managers are their employees and are not owned any more than any employees or indeed humans are owned.
Ackman is both. He is an activist in some of his plays, however, as can be seen through his publicly traded fund $PSH, most of his investments are long-term value investments which is also the sentiment echoed in his investor letters/presentations.
However, to the point of his SPAC vehicle - $PSTH, he has already stated in some interviews that he is not always looking for activist plays, and that $PSTH does not need to be one.
is there any reason to think starlink is even a possibility? i dont know much about all this but browsing reddit a few weeks ago that seemed like the meme possibility, in the same way that GME was going to go to $10000 a share.