Stratrix

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The analyses

The Fall · Decision Forks
The SPAC Wasn't a Broken IPO. It Was a Working Machine for Moving Risk to People Who Couldn't See It.
In 2021, 613 SPACs raised $162.5 billion - more than every prior year combined. Then the average de-SPAC was down roughly 40% by late 2022. The retail investors held the loss; the people who structured the deal had already taken theirs.
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