The SPAC Boom Apex, Market Memes, and the Biggest Opportunities in Tech

Published on
February 1st, 2021
Duration
72 minutes

The SPAC Boom Apex, Market Memes, and the Biggest Opportunities in Tech

Mike Green in Conversation ·
Featuring Josh Wolfe and Michael Green

Published on: February 1st, 2021 • Duration: 72 minutes

Because of their favorable structure, SPACs have become the vehicle of choice for founders and venture capitalists to bring private startups to the public market—even with the explosion of SPACs in 2020, we are already on record setting pace in 2021. In this interview with Mike Green of Logica Capital, Josh Wolfe of Lux Capital breaks down exactly why the SPAC structure is so favorable and argues that the knock-on effect of an M&A boom will produce the modern equivalent of the AOL-Time Warner acquisition, signaling that the top is in. Wolfe and Green also discuss Wall Street Bets and the current meme driven market, Josh’s prediction of an “Occupy the Fed” movement, and the biggest opportunities in tech that he and Lux Capital are invested in. Filmed on January 28, 2021.

Key Learnings: SPACs have a favorable structure that makes raising cash so easy that it will encourage rampant M&A, which will eventually result in the mega-deal, signaling the top of the market. Crypto and Wall Street Bets are emblematic of outrage that Josh Wolfe believes will result in an “Occupy the Fed” movement and retroactive regulation. At the moment, Josh Wolfe and Lux Capital are focused on the technology behind scientific advancement and the emerging space economy as their big bets.

Comments

Transcript

  • AX
    Anthony X.
    19 February 2021 @ 04:40
    .
  • DN
    Douglas N.
    7 February 2021 @ 04:13
    Wow. Mike Green definitely grows on you. Wokestan and Magastan being right next to one another as they try to separate around a circle. Did he coin that idea? Since I joined RV late last fall I initially misjudged him so badly that I feel like I need to pay closer attention to indexing my trigger finger.
    • ke
      karl e.
      18 February 2021 @ 19:40
      I feel the same way.
  • DN
    Damon N.
    15 February 2021 @ 21:57
    love this chat, however being anti-bitcoin is not a heresy, it is the status quo
  • KJ
    Keith J.
    12 February 2021 @ 10:09
    AOL Buying Time Warner 2000 = TSLA Buying Bitcoin 2021. History never repeats, but it rhymes. Discuss...
  • JG
    J G.
    3 February 2021 @ 03:45
    Does anyone know if Josh Wolfe manages external money? Brilliant minds. I'm really grateful for this. Mike Green you're the man.
    • HK
      Hendrik K.
      7 February 2021 @ 22:09
      Yes - @ LUX
  • RR
    Ribal R.
    6 February 2021 @ 18:50
    p.s Bots are not controlling the WSB forum and it seems you need to stop spreading rumors around because you can hurt the credibility of this platform.
  • RR
    Ribal R.
    6 February 2021 @ 18:48
    Hello Mike, I am trying to be open minded and this is the second interview I watch for you. You seem like a well established and smart individual. It would be great to see you exploring some brave new ideas with your guests not colluded with fear of the other. We must not forget the roll of the U.S. in international affairs of the past 50 years. For the U.S. to be in the lead, we must also be super genuine and own up to the past, present and future. You keep reinforcing the political establishment narratives and it is very concerning to be on such a platform, and infuse your conversations with fear of Russia and China and the eminent demise of crypto. Capitalism must reinvent itself or breakdown in front of our eyes, which many scholars would argue we are in the era of "wreckage capitalism". The old system is too slow and complicated and built on corruption, wars and blood, and if the establishment is too old too fix it, someone else will. It better be us.
  • RG
    R G.
    3 February 2021 @ 00:20
    Some rather simplistic, self-grandstanding assumptions about China's national identity, political traditions abundant here. Fix the US first, if you want to maintain the neoliberal world order. China isn't a product of Xi, it's the other way round! And Mike Green you're dead wrong in your baseless assumption in one of your tweets that 1.4 billion people having been ripped off by Xi and his regime - at least not so perceived by the Chinese population according to both studies and empirical evidences. Xi has the Mandate of Heaven now as far as the Chinese are concerned and this has very little to do with your simplistic socialism/capitalism democracy/authoritarianism narrative. The biggest hubris of people like Green is they simply take it for granted that he just knows better what's better for China and the Chinese than the Chinese. Lay off your ideological nonsense already. You can't even force your views on your fellow Americans so stop forcing it on other cultures and civilisations you know precious little about.
    • LH
      Luke H.
      3 February 2021 @ 04:56
      So true. I feel sorry for these guys who have been fluffed by US nationalist consensus into believing their own intellectualised bs. Mike, at the end of the day, we have a good view into your (busted) US reality, but you have almost none into ours.
    • MT
      Mark T.
      5 February 2021 @ 09:14
      Systems that adapt to the evolution of reality appear disorderly and at times allow for the creation of outcomes that may disappoint many in the short term. Nonetheless such systems, because they are adapting, have the capacity to survive in a changed environment. A system such as China’s seeks to recreate the environment to allow for the achievement of it’s policy objectives and will appear to be much more successful in the short to intermediate term but because of its inability to adapt it becomes increasingly fragile. This is why the collapse of the Soviet Union surprised so many. The rot occurs within and is hidden from those who aren’t looking for it. China is entering the throes of the demise of it’s current system. The symptoms are becoming increasingly evident for those with even a modest willingness to understand what can be seen.
  • EC
    Elliott C.
    2 February 2021 @ 03:26
    As a Chinese American who has lived in China recently I think the West has its own blinders on from its cultural framework it cannot see out of. China's "stifling" of creativity and focus on control over its citizen is seen as a positive by most Chinese. America's central value has always been freedom, whereas in China it has always been harmony and stability. In that lens, which country would you rather live in? One where a pandemic is raging out of control, where people are raiding the capital, where the social groups are shouting at each other, where there are school shootings and police strangulations caught on camera? Or would you rather live in a country where you can't say what you want on the internet or in public, but the streets are safe, the virus is handled, and people aren't shooting one another? The same thing that made America great is what makes it gut churningly awful right now.
    • AS
      Alex S.
      2 February 2021 @ 04:02
      The former. Because we can change it when it doesn’t work.
    • LS
      Lemony S.
      2 February 2021 @ 05:21
      America is only worse off because it has taken a turn towards the communism that China has. Irony, yes. Why do Chinese fear Europeans, Elliott? I'm laughing as I sip a Tsingtao wiht my neanderthal DNA. Something you may, or may not share ... and that most don't.
    • CL
      Chad L.
      2 February 2021 @ 16:59
      I would argue that’s a false choice. Both can be (are?) true. There is no way 1B human beings born and raised in the Chinese cultural ideals of “Family” are not going to value it. Similarly don’t expect 350m Americans raised on the ideal of “Freedom” to desire anything different. Asserting cultural superiority as these two seem to do is a bad place (for all of us) to start. If China were to suddenly become “Free” by American standards, their new found system and behaviors would remain rooted in their ideals of “Family” and therefore their government/political apparatus would not resemble our own (I’m American) Fighting that unwinable war is insanity from either direction.
    • GH
      Glen H.
      3 February 2021 @ 05:05
      Ha! I’ll take freedom thank you!
    • LC
      Liliana C.
      5 February 2021 @ 06:02
      Yep, I’ve lived under both regimes and I choose the 🇺🇸 !!! With all the good bad and the ugly which is there for all to see and discuss.
  • SK
    Samuel K.
    3 February 2021 @ 13:39
    I'll be one of the people you mentioned, thank you for everything you've said on crypto. I live and breathe Bitcoin and you've offered the single best critiques of crypto I've ever heard. So thank you.
    • JG
      Job G.
      5 February 2021 @ 01:25
      Which are the best critiques : "the narrative is incoherent" or "I did a deep dive into bitcoin" and then talking about 90 % " fradulent" transations and not knowing the difference between transacions on exchanges and on blockchain. Get out of here, Mike Green is Salty.
  • SR
    Samhit R.
    4 February 2021 @ 23:04
    Excellent, thank you.
  • RF
    Richard F.
    4 February 2021 @ 02:36
    Mike you big legend. Since you're hell bent on having the most interesting and important conversations on the web, and since your looking to the future to try and understand the challenges and opportunities in our future, I hope you might consider interviewing Nate Hagen. https://www.postcarbon.org/helicopter-money-and-a-game-of-kick-the-can-episode-12-of-crazy-town/ Keep it up mate, you're hitting all the important points.
  • LD
    Lisa D.
    4 February 2021 @ 00:08
    I've listened to a couple of Mike's previous interviews. He never fails to leave me questioning one or more of my beliefs, which, in an age of filter bubbles and cancel culture, is a true gift. Keep up the great work Mike. It was my first time listening to Josh which was also a real treat. Way to go Real Vision for attracting such high level talent to speak on your platform.
  • JJ
    Jerry J.
    3 February 2021 @ 19:25
    TSLA being "bought" by the S&P 500 - fits the bill for the thing to calls the top . . .
  • JK
    John K.
    3 February 2021 @ 05:34
    I love the bromance between these two. You can tell it's real love between the two of them.
  • DB
    Danielle B.
    3 February 2021 @ 01:41
    You can't retrofit a existing car factory, into a Gigafactory. It would mean taking the facility back to it's shell ... pointless really. Example is Freemont and the struggles they have had to date.
  • TC
    Tim C.
    3 February 2021 @ 01:14
    I would love to hear Josh's thoughts on how the imaging technology he described could be used in materials science for things like battery technology.
  • RJ
    Robert J.
    2 February 2021 @ 21:52
    Excellent conversation. Mike and Josh are casting pearls before the swine and I believe they are all ivory 4-A! Great "chew-toys" for thought. Thank you and "keep on keepin on" with future discussions.
  • CH
    Crag H.
    2 February 2021 @ 21:22
    "Suppressing on-campus drinking forces the drinking into dark alleys." Similarly, destroying the possibility to safely store wealth in cash moves that the activity into other assets. 'Saving' should never have become the equivalence of 'investing'. But unfortunately it has. Gold and Bitcoin have never been more important.
  • TK
    Taimoor K.
    2 February 2021 @ 09:16
    The American supremacy and ignorance of world politics that emerges from these 2 mouths is staggering.... That these people are considered “experts” in the US shows everything you need to know about American ignorance and the decline of their empire
    • MG
      Michael G. | Contributor
      2 February 2021 @ 12:11
      I’d be interested in understanding your areas of disagreement
    • PD
      Peter D.
      2 February 2021 @ 16:00
      I'll chip in: 1. Your use of the official productivity narrative, leads you both vastly overstate America's productivity potential. US productivity growth' which (even in official terms has been declining for decades) is reliant on increasingly large infusions of private and public sector debt. (See Lacy Hunt's marginal productivity of debt narrative at Hoisington). Productivity benefits, which using official statistics, are measured per hour, are also overestimated, because they are distributed among and increasingly large, non-working extraction class of seniors, and growing parasitic government linked elites milking the Cantillon effect. Finally, productivity numbers are inflated by a suspicious BEA GDP deflator, which calculated properly likely demonstrates that per hour US productivity has been DECLINING for decades. 2. You both vastly overstate America's "free" markets in the Great Power game with China. For example it is trivial to show that UD government spênding adjusted for increases in unfunded liabilities is well over 60 of GDP, and climbing fast. That percentage is growing If you own something in America, or you run a lemonade stand, it is because government allows it. This is important: because if America chooses authoritarianism as its tool to take on China, America loses. Because China has far more experience playing on that field.
    • AP
      Antonio P.
      2 February 2021 @ 16:07
      totally agree. These US jingoistic hawks are unbearable to hear. This is the same US that has destroyed entire nations: Vietnam and Iraq. Very very sad!!!
    • AP
      Antonio P.
      2 February 2021 @ 16:26
      Unfortunately, it seems the US will never learn, it is as imperialistic as good old Albion, will do whaever it takes to block China... Not that China is a benign player, far from it...
    • TC
      Tor C.
      2 February 2021 @ 20:12
      Agree it comes of a bit arrogant(ignorant). China acts as the largest venture fund in the world. They use a form of free marked but in special economic zones etc Hifh lvl: Strategicaly they play chess vs what ever we(the us/eu) do. Also china are no longer copycats in important areas like ai, robotics, computerchips. Btw the growing technical equality/superiority is a trend that will accelerate not slow down. And they focus on we vs me so they have great support from the majority of people in china. I would think some of this was common knowledge in macro land? Ps: This is not to say that they don’t do horrifying acts against minorities & individuals in their own rank.... but that is a different topic...
  • DA
    David A.
    2 February 2021 @ 16:38
    After so drum-banging on Realvision about Bitcoin, it's good to hear someone of the calibre of Mike Green argue that the crypto community actually has no clothes. I am not hostile to crypto but was concerned that Realvision had become a crypto echo chamber. What Mike Green said, to me at least, had some force.
  • AP
    Antonio P.
    2 February 2021 @ 16:12
    By the way, the Russian car is not Lata but Lada rather...
  • MO
    Master O.
    1 February 2021 @ 16:00
    Mike can you please have conversations with 1) Peter Thiel 2) Andreesen Horowitz and 3) Eric Weinstein.
    • BC
      Bill C.
      2 February 2021 @ 05:22
      If you're going to open up to The Weinsteins...go ahead and bring Peter Attia to RealVision subscribers. He's not investment related - except in personal long term health - but well worth a listen.
    • AK
      Anthony K.
      2 February 2021 @ 14:36
      Brilliant suggestion to bring Peter A on
  • Nv
    Nick v.
    2 February 2021 @ 14:16
    My favourite 2 people on RealVision
  • LS
    Lemony S.
    1 February 2021 @ 21:50
    Mr. Green (is that why he is profplum? ha) has a lot of fanboys around here, and deservedly so, because I have agree with much (near all) that he has said and brought to the table. But this BTC angle is quite confusing, also amusing because we are going to see what happens and how it is handled. The question of "Dialogue and let's make this work" is too little too late (where were you in the 1990s?), and is a bit insulting, as inferred by the "European Hodler" who legitimately answered Mike's question regarding the exchange of "What would change your mind about bitcoin?" / What could get you to change your view and work to fix the system?" And he didn't get a response to his savvy answer except, "At least he's honest." I urge you to check out that exchange. I love you Mike, but it's too easy to talk about dialogue when polarity is at a maximum, due to massive government expansion and leftism with tech deepened divides, beyond the national leaders selling out to globalists. I'm sad to say that the external factor of harsh reality (you pick the poison) is the only way to change things at this point. I know, it's not what the upper levels want to hear, necessarily. I would think the same way if I didn't know how treasonous our leaders, including the current president, have been ...
    • PD
      Peter D.
      1 February 2021 @ 22:24
      Green, like much of Peter Thiel's stable (ex. in his case) is used to being "the smartest guy" in every room he walks in. That means when Green gets lazy or is wrong, he can usually bluff his way out. (That glib response Green gave about "would make him change change his opinion" was a perfect signal of this). But the Bitcoin community is filled with "smartest guy the room" types. There, Green is just one of many ... and the holes in his argumentation stand out like sore thumbs.
    • LS
      Lemony S.
      2 February 2021 @ 05:24
      It is telling that he has responded to many posts. Yet not this one. Good points, Peter. I'll see you at 100k MG
    • PD
      Peter D.
      2 February 2021 @ 12:03
      BTW Lemony: Green, despite his contra viewpoints. is extremely important to the BTC community. Some of his concerns. particularly on the regulatory front, are real, and legitimate. However, if a guy with that kind of intellectual heft, making a serious effort, can't raise sufficient risk adjusted doubts about BTC (his debate with Nic Carter was telling), then Bitcoin might have real legs. Green has said that he plans to publish a paper on his BTC research. I'd watch out for it. There may be stuff in there that does not come out in his oral presentations.
  • AP
    A P.
    2 February 2021 @ 09:38
    Islamic terror (which, at scale, was a Sunni phenomenon) has played out. Even Saudi Arabia seems to now realizes that it cannot do what Iran was able to do at a lower bore and still exert control over it. There are just too many Sunni muslims living in crappy places. We have room to be more hopeful about the strategic emergence of China as a competitor against liberal democracy. Wolfe is probably right that China's economic heft (driven by a 1.4 billion population) can support quite a robust economic base to sustain a military/industrial challenge to the west. They need to only operate at a 1/2 a per capita GDP as the 'west' to compete in GDP. The answer to our demographic and economic woes may lay in South Asia. The Indian subcontinent is finally emerging from colonialism into its own. India is shaking off colonial era West-wary orthodoxies at a breakneck speed in the face of an aggressive China (while at the same time, China's 'fight-not-fight' methods give India enough time to bulk up). The area (specifically India and Bangladesh) has the demographic base, foundations in English Common Law and grassroot preference for raucous democracy to add sufficient heft to the global liberal project. India also wields substantial soft power across Indochina and the Middle East that it hasn't exploited in any meaningful way. This could get interesting.
  • LS
    Lemony S.
    2 February 2021 @ 05:44
    Heretics follow truth? LOL
  • VF
    Vassilios F.
    1 February 2021 @ 18:34
    Amazing interview! Mike's observation on the nihilistic self-talk of individuals believing that "I have no opportunity to succeed in life unless I win the lottery, and at least this lottery feels like something I have some control over" is 100% accurate and deeply disturbing.
    • BC
      Bill C.
      2 February 2021 @ 05:14
      I concur with Mike's thinking on this point. He's aped my thoughts and all-to-frequent online commenting. I see the so-called Reddit raiders as being similar to the rioters burning down our cities (as we speak). They have very little going on in their lives, many for their entire lives, and for the first time by joining a crowd, online or in-person, they suddenly feel like they're a "part of something big."
    • LS
      Lemony S.
      2 February 2021 @ 05:30
      It's about time technology and the "global" worked for them, after they got f'd in the A for so many years by it elites and boomers complaining about upsetting the status quo is quite funny
  • TP
    Timothy P.
    1 February 2021 @ 18:42
    For the easily offended, I'm going to be stating opinions you may not agree with. Down vote and move on, will you? Thanks. Where to begin. "Gamestop short squeeze wasn't 'sticking it to the man'" -- I don't know what news flow you pay attention to, but it most certainly was. Musk didn't start this. Overstock dot com's former CEO complained about shorts for a long time, and the SEC didn't bother listening. The problem here is when you have people who essentially have been blocked from participating in the system, or the rules have been made to exclude them, either through large startup costs (25k Daytrading Balance Rule, "Accredited Investors" for more exclusive plays) or gating mechanisms, you are providing an accelerant for the populist fire that results. Essentially, when banks/hedge funds get into trouble (LTCM, etc..) the taxpayer bails them out. When the little guy blows up his account, no one comes to his rescue. The legacy financial system has a history of externalizing costs on to taxpayers for losses, and not so much for the profits. So cry me a river, those over-exposed hedge funds deserved a wake up call. They're supposed to hedge tail-risks, right? No? Laughable. Bitcoin, Data Censorship -- I'm surprised that Mike agrees that "memes" (Badthink) needs to be censored. All that happens when you cancel/censor an idea is force it underground, where it grows into something you won't recognize once it bursts back into the limelight. As for Bitcoin, Mike has made it clear he thinks its a useless folly to take on the legacy system. He refers to "Shay's Rebellion" which was an armed uprising by citizens against corrupt practices of taxation, among other things. This clearly misses the mark - it assumes the dynamics are the same and the application of pressure to change is communicated through violence, ultimately. It is possible to win a financial war without firing a shot, but even if we don't take the literal interpretation of his stance - its the very statement that Mike believes Bitcoin can't overcome obstacles that I take issue with. Bitcoin has been declared "dead" over 350+ times, by large financial rags and others. And yet - it persists. Bitcoin has been banned in China three times. And yet - it persists. (Even over-the-counter markets in china) If the largest totalitarian regime with a country-wide censoring Firewall can't stop it, what chance do you think any democratic country will? At worst, it would accelerate the adoption process by people realizing the weaponization of the current monetary system against them isn't to their advantage. After watching this video, its like a surreal scene where the largest asteroid in existence is about to change the landscape and wipe out the dinosaurs, but none of the participants can see it coming. Laugh it up about "flash mobs" all you want, it won't change the forces at play.
    • MC
      Michael C.
      1 February 2021 @ 19:34
      Great comment!
    • AT
      ALAN T.
      1 February 2021 @ 20:06
      Excellent.
    • RD
      R D.
      1 February 2021 @ 23:34
      Agree wholeheartedly. Mike Green is a pseudo-intellectual par excellence who rails against any investment vehicle that gives regular people a chance at protecting their purchasing power. Josh Wolfe loves to talk up private deals that he and other "VC geniuses" have exclusive access to. But Josh's comments about public equities have merely parroted Wall Street consensus. Who says religion in America is dead? Both these "geniuses" have large cult followings of fan boys.
    • DB
      David B.
      1 February 2021 @ 23:38
      ...and when the arguments don't work, Mr. Green goes with "paging the IRS" or "we need the regulators to step in". Sigh...
    • MK
      Martin K.
      2 February 2021 @ 02:20
      Well said!
    • LS
      Lemony S.
      2 February 2021 @ 05:28
      Hold on, "Bitcoin isn't what you think it is" but i'm not prepared to tell you about my tease
  • JW
    J W.
    1 February 2021 @ 10:32
    Worth watching for the SPAC smack down alone when Mike basically slammed Josh’ argument re forward guidance as one of the benefits of SPACs. :-). Josh trying to recover afterwards but seemed somewhat groggy as they continued the conversation :-) I know these guys respect each other so it’s all good but it was fun to watch.
    • MG
      Michael G. | Contributor
      1 February 2021 @ 16:35
      Josh was playing. He knows full well the game. He was just willing to offer up the consensus narrative to tee up the hit.
    • BC
      Bill C.
      2 February 2021 @ 05:27
      Michael G., Then well played.
  • JM
    John M.
    1 February 2021 @ 18:51
    In his latest interview on QTR, Ron Paul comments on how he was was cheated in an election in the 1970s (starting at the 30 minute mark). https://quoththeraven.podbean.com/e/quoth-the-raven-238-ron-paul/ Claims of election fraud should be taken more seriously IMO (regardless of who makes the claim).
    • pt
      popejumpingjohnpaul t.
      1 February 2021 @ 19:03
      why are you Americans so gullible? the Pauls are a laughing stock outside the US.
    • BC
      Bill C.
      2 February 2021 @ 05:02
      Pope, That says a lot about "outside the US."
    • LS
      Lemony S.
      2 February 2021 @ 05:26
      pope is a clown the constitution is so laughing stock that all the non-elites didn't want to stick around the countries "outside the US" lol even as a shell of our former selves, and I'm embarrassed by it, we still are the location people literally DIE to get too this pope is like that pussy Jorge B
  • WS
    William S.
    1 February 2021 @ 16:07
    China - problem is multiple Administrations over the last 20 yrs have stood by as China has become a "bully" in the south China Sea....my two cents if this Admin can create a group of countries that as one push back - they will tow the line - if not watch Taiwan - they will try something akin to HongKong. - China as a country plays by two standards one internal - its our xtry you have no right to comment and external - here buy our "stuff." It's the stuff that is their achilles heel.
    • BC
      Bill C.
      2 February 2021 @ 05:20
      And stupidly, we do continue to buy their stuff. If we made it here there'd be no threat of recession, and perhaps no need for ZIRP, and endless money printing. Or much less so.
  • EP
    Eddy P.
    2 February 2021 @ 02:48
    Wow! that is all that I can say, what a wonderful conservation. I cannot see why anyone would give you any grief for these video series. You see problems in the US and are fighting them in a intellectual way. Also you point to a direction that can help solve the great divide. Is there anyway you can reach out to Yaron Brook and see if your views align? I think he would be an asset to Real Vision . Again that you Mike and Josh. And thanks Raoul for starting this wonderful platform.
  • aD
    amol D.
    2 February 2021 @ 01:29
    Always enjoy the big themes that come from these 2 chatting with each other! Lots to chew on in this interview. Thx Realvision.
  • TC
    Tim C.
    2 February 2021 @ 01:00
    This is an epic conversation. Both Mike's and Josh's insights, humility, analysis and depth of knowledge is impressive.
  • BK
    Brett K.
    2 February 2021 @ 00:55
    My biggest complaint about Mike and Josh's interviews is that I can't watch them and multi-task. ;) Seriously great stuff.
  • LM
    Lee M.
    1 February 2021 @ 23:36
    Hey Mike, Can you give me a little history (a link is cool) about the Roman senate being paid off? Thanks!
    • MG
      Michael G. | Contributor
      2 February 2021 @ 00:32
      https://en.wikipedia.org/wiki/Jugurthine_War and The Storm Before the Storm: The Beginning of the End of the Roman Republic https://www.amazon.com/dp/1541724038/ref=cm_sw_em_r_mt_dp_N04DYNAQDXKZ32A311TF
  • RL
    Ruby L.
    2 February 2021 @ 00:11
    great discussion and great example of two professionals having meaningful discussions, even if they disagree and the humility to hear what the other has to say. appreciate this and want more it!
  • GT
    Gabriel T.
    1 February 2021 @ 22:51
    Great conversation. These spacs are nutty anda few will do well, but most, like 87% will fail within 2 years or less. Beyond that. thanks.
  • DB
    David B.
    1 February 2021 @ 22:36
    "Probably 90% of the people you know are crap." Could not be further from the truth. I am glad I don't live my life with that mindset. Wow.
  • TS
    Thomas S.
    1 February 2021 @ 22:26
    Mike ... aren't the real issues about 1) excess liquidity chasing deals and 2) poor merger due diligence, rather than the SPAC structure itself ? Or, the presumption is that a traditional IPO S-1 route would flush out the crap before it got to market ? Thanks to Josh too .... enjoyed the conversation
  • WS
    William S.
    1 February 2021 @ 15:45
    Enjoyed the back and forth -- so you both think EM@Tesla hiding something on his books --- so does everyone else but so far no one is able to find the thread that blows him up....
    • LA
      Linda A.
      1 February 2021 @ 21:55
      get Cathie Wood & Ron Baron to leave then the stock starts to crater.
  • LA
    Linda A.
    1 February 2021 @ 21:44
    Totally agree- thesehi- profile people should stop stoking anger & revenge. They should mind their own businesses- stop bullying & stoking people. People do your own thinking & stop doing their bidding.
  • SS
    Stephen S.
    1 February 2021 @ 19:18
    Disagree with the guest regarding Religion, I think the reason we have these “cults” like QAnon or Wokeistan may be the collapse of an overriding Religion that has much more historical, moral, and philosophical depth.
    • LS
      Lemony S.
      1 February 2021 @ 21:37
      Good point. I've noticed that "normal" people (western materialists) haven't noticed since they don't really believe in anything - thus they don't notice the collapse and take for granted what the historically great spiritual foundations, and revelations, have provided.
  • vf
    victor f.
    1 February 2021 @ 20:43
    Fantastic. Love the depth to which you two take the subjects.
  • jl
    johan l.
    1 February 2021 @ 20:01
    Professor Plum strikes again. what a great conversation. :) only downside for me is that those companies they talked about in the end seems to be private. got me super exited about something that's not for sale yet. I guess if I hold my bitcoin it will appreciate so much that I can just buy the SPACs outright when that times comes.
  • BS
    Boris S.
    1 February 2021 @ 13:16
    If there was an option to set Mike on 1,25x speed and Josh 1x, id love it! :D Great interview Mike
    • MG
      Michael G. | Contributor
      1 February 2021 @ 16:33
      Agree. I always advise people to watch my interviews at 1.5x... with Josh that just isn't possible. Watching Josh & myself is like the movie "The Quick and the Dead"
    • VF
      Vassilios F.
      1 February 2021 @ 18:40
      I have the "Video Speed Controller" Chrome extension that lets you increase/decrease video speeds in increments of .1x. You can toggle between speeds by pressing "s" for slow and "d" for fast. I watch Mike at 1.8-2.0x and Josh at 1.6x. I have seen some other RV interviews at 2.3x. Your ear will get trained to listen to audio much faster, and when you hear something that requires more thought, you can watch at 1.5x and still absorb meaning.
  • WS
    William S.
    1 February 2021 @ 15:49
    Mike - Grew up in Sausalito over your right shoulder and graduated from UCB over your left shoulder. Waaay to crowded now...kind of like NYC - visit but not stay anymore.
    • MG
      Michael G. | Contributor
      1 February 2021 @ 16:32
      William, grew up here as well. Marin remains the Shire. While Bay Area went from ~2MM to ~8MM, Marin went from 230K to 280K. NIMBYism run amok, but great if you can find a place.
    • SS
      Stephen S.
      1 February 2021 @ 18:26
      Well, I’m here in Texas watching the exodus come to us. I’m thinking about giving it a few more years and heading your way.
  • JA
    Jose A.
    1 February 2021 @ 17:03
    There is no inflation...
    • JS
      JD S.
      1 February 2021 @ 18:15
      explain
  • PG
    Philippe G.
    1 February 2021 @ 16:29
    Great point on the flash mob and internet/meme "culture" aspect of what's going on. You've got plenty of young guys, with high levels of risk tolerance, stuck at home bored trying to outdo each other with their memes and GIFs. One idea looks very attractive and off to the Moon and Mars we go. Some initial unrealized gains are shown, more people pile in, etc... It's easy to forget that barely 3-4 weeks ago, it was all about Palantir over at r/WallStreetBets with daily clips and GIFs of Lord of the Rings scenes. The GME story has a bit more legs underneath it with all the media around it, but still an hourly news item in 1-2 months, unlikely IMO...There's eventually going to be some pain on the retail side, or as it's called..."loss po**", I don't doubt that Easily a top 3 pair on RV - thanks to Mike G and Josh W.!!!!
  • KP
    Kaushal P.
    1 February 2021 @ 16:27
    Nice discussion from venture perspective. Some interesting investment ideas towards the end. Thought provoking discussion as usual minus comparing crypto to Qanon and Antifa.
  • DS
    David S.
    1 February 2021 @ 15:06
    Sorry for the aside. Hedge funds and big trading banks may be actively using WallStreetBets to aid in their own short-position raids. DLS
  • PB
    Patrick B.
    1 February 2021 @ 11:21
    "90% of the people you know are crap" This Wolfe guy is real wounder