[toomuchtodo]

They have ~$1B cash on hand, so it’s only ~75% fraudulent at current valuation.

[jjeaff]

Except stock price is supposed to indicate discounted future expectations of value. I expect that they will spend that $1B in the future with little to show for it.

[vasco]

The 25% keep enough people fooled to get enough time to spend the ~$1B.

[antattack]

The SPAC has >500mln in Private Investment in Public Equity (PIPE) commitments.