The demise of SPACs spells opportunity for a new generation of American suckers

In 2004 The New Yorker movie critic David Denby wrote a good book about the dot-com mania. It’s called American Sucker.

Denby tried to make $1 million in 2000 by betting on internet stocks so he could buy his wife’s share of their West End Avenue apartment after their divorce. This quest led directly to massive CNBC consumption and attending Tribeca Rooftop gabfests where carnival barkers talked up the World Wide Web until the market tanked.

“The ax had swung,” Denby wrote, “and heads lay all over the ground.”

Today we have a bubble involving special-purpose acquisition companies. One nice outcome would be a candid memoir. Because the

→ Continue reading at Crain's New York Business

[ufc-fb-comments url="http://www.newyorkmetropolitan.com/news/the-demise-of-spacs-spells-opportunity-for-a-new-generation-of-american-suckers"]

Latest Articles

Related Articles