Odd Lots Howard Lindzon Tells Us Why He Launched His Own SPAC
Mar 1, 2021
Howard Lindzon, a VC and CEO of a SPAC, shares his insights on the explosive rise of SPACs, the once-sleepy investment vehicles now attracting celebrity attention. He discusses his own journey in launching a SPAC and the thrill of navigating this evolving landscape. Key topics include the importance of assembling a skilled team, the shift in capital raising strategies post-COVID, and the increasing influence of social media on investing. Lindzon also touches on the controversies surrounding Robinhood and how SPACs represent a new era in finance.
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SPAC Origin Story
- Howard Lindzon's interest in SPACs was piqued by a pre-COVID dinner with Adam Bain, ex-Twitter CFO.
- Bain explained Chamath Palihapitiya's approach to SPACs, framing them as tools for growth.
Building a SPAC Team
- Assemble a skilled team with experience in banking, public markets, and legal processes for SPAC success.
- Secure someone like Doug Horlick (ex-Goldman) and Paul Grimberg (public market expert).
SPACs and the Creator Economy
- SPACs leverage the 'creator economy', allowing influencers like Lindzon to monetize their network.
- This network effect helps with fundraising, attracting deals, and building the company narrative.