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Why SPAC IPOs are getting so big and popular

Betty Liu, Executive Vice Chairman for NYSE Group, explains:

Why have SPACs been so popular recently?

Well, that's because companies are embracing newer ways to tap the public markets outside of the traditional IPO. You've heard me talk about direct listings, for instance. And now SPACs are having a very big year, this year. In fact, nearly a third of all US IPO proceeds raised have been raised through SPACs in the first half of 2020.

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Why more companies are going public now

Betty Liu, Executive Vice Chairman for NYSE Group, provides her perspective:

Over the past few weeks, more companies have been going public. Why is that?

Well, as you might recall, back in March, when we first saw the pandemic erupt, the markets were extremely volatile. And in fact, we triggered the market wide circuit breakers a total of four times between March 9th to 18th. At that time, you had some companies tap the capital markets to raise funds for short term funding needs, but there weren't a lot of IPOs. Now the markets are a little bit more calm, so to speak, and that means that the IPO window is opening. You've seen companies like Albertson's, Dun & Bradstreet and Lemonade go public in just the last few weeks.

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Why did Uber's IPO flop?

Is WhatsApp safe?

WhatsApp had a crazy hack! Hackers were able to get on your phone just by calling it. That's been patched but it's a reminder nothing is ever completely safe in 2019.

Why didn't Uber's IPO perform as promised?

Because they're losing tons of money. Because Lyft didn't do that well. Because their expansion into international markets, where they planned to go, has been harder than expected. Tough times at Uber.

Will cutting Huawei off from American technology hurt?

Trick question! Will it hurt Huawei? Yes, definitely. Will it hurt the American companiesthat supply Huawei? Yes definitely. Will it hurt consumers everywhere? Probably. Unless it changes the dynamics of the U.S. - China trade relationship in such a way that helps everybody, which is possible.

Should more cities ban facial recognition technology?

There's a tradeoff between privacy and safety. San Francisco just blocked facial recognition technology to help privacy but I think most cities are going to care more about their police departments being maximally effective and will choose safety.

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