Yeah it seems to be a pretty solid indicator of scams. 2021's equivalent of ICOs. Ok maybe a little less scammy than that but still definitely not a good sign.
Fairly mind boggling that people would invest in this to the tune of hundred of millions of dollars. Even without the overpromising detailed here it's a very speculative idea that could easily be copied at a fraction of the price if it worked.
What about a much simpler explanation: a man just out fresh out of a university took upon an project made on entirely incorrect calculations of feasibility, and totally overpromised things left, and right to equally unqualified to judge investment fund people?
3 comments
[ 2.3 ms ] story [ 13.5 ms ] thread1. https://www.investopedia.com/terms/s/spac.asp
Fairly mind boggling that people would invest in this to the tune of hundred of millions of dollars. Even without the overpromising detailed here it's a very speculative idea that could easily be copied at a fraction of the price if it worked.