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July 26, 2021


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“Having a great story, and knowing how to tell it, can be a quick way to get rich. Which is exactly how capitalism, at certain moments, is supposed to work.”

Beg to differ. Those and similar get-rich-quick schemes are what critics of capitalism describe as rent seeking, extracting money while creating no real value. SPAC may be a cute new word; but as an old concept it's about as cute as a gorging vulture.

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