Known to some as the "SPAC King," Chamath Palihapitiya once had plans to launch SPACs with tickers IPOA through IPOZ. Those initial dreams failed, as several SPACs were liquidated without merger targets, and the SPAC market lost favor with retail investors.
Palihapitiya is back with a new SPAC, but with a new business structure he's telling retail investors to stay away.
