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Re: by jarsin on Sunday February 09, 2025 @08:10PM (#42995890)
I'm amazed that the "Spac King" is not part of the administration.

I watched Chamath call in live to a spac scammers live stream. This scammer drove a beater and would pump various spac warrants on his way home from the warehouse job on twitch.

I was like wtf is a former FB executive doing showing up on this scammer live stream.

Re: by bag_boy on Sunday February 09, 2025 @09:30PM (#42996311)
That’s insane lol. Is there a clip of that? Can you provide more context?
Re: by jarsin on Sunday February 09, 2025 @10:10PM (#42996536)
I don't have a clip but it was in the height of the spac pump and dump craze taking place on reddit during the pandemic. The scam was buy up a bunch of warrants then release info that you had knowledge of an upcoming deal.

This particular scammer got lucky on one of his spacs when it actually made a deal and from that he made quite the following.

Chamath used this guy to pump his spacs because if the spac was pumping before there was even a deal it was easier for him to make the deal.

I think all of Chamaths spacs are penny stocks now with multiple reverse splits to stay above $1.

Edit: Except for SOFI the one good deal he made.