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What the heck is a SPAC?

SPACs have been hot lately – in 2020, there were nearly 250 new SPACs that raised $83 billion in capital. They basically allow a private company to go public really quickly. Here’s how they work:

What Are SPACs and Should You Invest in Them? [Money For The Rest of Us] – “Special Purpose Acquisition Companies or SPACs are non-operating publicly-listed companies whose purpose is to identify and purchase a private company, allowing the acquisition target to have publicly listed stock.” This is a really great explainer – easy to understand.

the diminishing returns of productivity culture [Culture Study] – “Automation was also positioned as a sort of cure-all for America’s industrial slump: a way to close the gap between their global competitors, particularly Japan and Germany. It promised to decrease inefficiencies and increase productivity — and productivity, as Robert MacNeil put it in his intro to an episode of PBS Newshour in 1980, was the “in” word of the year: “Everyone who thinks he knows what’s wrong with this country wants to improve productivity.””

Everytime I see the word thief, I think about the kids book the Brief Thief. This one is, however, about eggs.

The Egg Thief [Outside] – “For decades Jeffrey Lendrum helicoptered up and rappelled down to aeries on cliff faces from Patagonia to Quebec, snatching unhatched raptors and selling them, investigators believe, to wealthy Middle Eastern falconers. This week in London, one of the most bizarre criminals in modern history goes on trial for the fourth time. Here is his story.”

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