Ben Gilbert: evaluation

Transcript context

…Yuri Milner’s Russian Tech Investment vehicle. I think they lead the first real big valuation growth round in Facebook at a $10 billion valuation I think. Mary [...] at a $500 million valuation which is crazy at the time, but then this multi-billion dollar valuation, DST the ones that got this. Ian and Chamath launched a $700 million SPAC in late 2017 under the ticker IPOA. They go out looking for a tech company to merge with and take public. I remember, of course I didn't really remember before for the Virgin Galactic announcement when it was just a SPAC and they didn't know what they were going to buy because that wasn't well marketed. The press wasn't writing about what Chamath is doing with the SPAC and we don't know what he's going to buy. What they're writing about came months later when he did know he was going to buy. Within Silicon Valley, I remember that people are talking about it, Chamath’s doing this crazy thing, Social Capital’s turning from a venture firm into a holding company. What is going on here? What is a SPAC? I don't understand this.…

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