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.


What is the biggest SPAC IPO ever?

So, implicit in that question is that these IPOs are getting bigger. In fact, we saw the biggest ever, last week, list. That was the Pershing Square Tontine Holdings SPAC, raising four billion dollars. Before that, we had the Churchill Capital Corp. SPAC, and that raised a billion dollars.

Microsoft announced earlier this year the launch of a new United Nations representation office to deepen their support for the UN's mission and work. Many of the big challenges facing society can only be addressed effectively through multi-stakeholder action. Whether it's public health, environmental sustainability, cybersecurity, terrorist content online or the UN's Sustainable Development Goals, Microsoft has found that progress requires two elements - international cooperation among governments and inclusive initiatives that bring in civil society and private sector organizations to collaborate on solutions. Microsoft provided an update on their mission, activities for the 75th UN General Assembly, and the team. To read the announcement from Microsoft's Vice President of UN Affairs, John Frank, visit Microsoft On The Issues.

The coronavirus pandemic has radically accelerated the adoption of digital technology in the global economy, creating an opportunity for millions of new businesses and jobs. However, it has also left millions jobless and exposed yet another vulnerability: hundreds of millions of people lack access to this technology.

To be sure, this divide was already present before COVID-19 struck. But unequal access to the internet and technology is going to make the multiple impacts of the pandemic much worse for offline and unskilled communities, among others. In fact, there is not a single global digital gap, but rather several ones that the coronavirus will likely exacerbate.

More Show less

As the UN turns 75, the organization is revealing the results of a global survey of nearly a million people in 193 nations—what matters most to them, and how do they view the need for global cooperation at this time of unprecedented crisis? Under-Secretary-General and Special Adviser Fabrizio Hochschild explains the purpose and findings of the report.

The world's largest multilateral organization was born out of the global crisis of World War II. Now, as another crisis rocks the world, the United Nations is facing a challenge of its own—to remain relevant in an increasingly nationalistic geopolitical environment. On the eve of the first virtual UN General Assembly, GZERO World host Ian Bremmer spoke to UN Secretary-General António Guterres about pandemic response, climate action, the US/China schism, and more.

News broke across the United States on Friday evening that Supreme Court Justice Ruth Bader Ginsburg had died, ending her long and distinguished career as a jurist. Tributes poured in quickly from men and women on both sides of the political spectrum. But just as quickly, her death has sharply raised the stakes for the upcoming US elections for president and the Senate, as well as the longer-term ideological balance of the nation's top court.

More Show less