he special purpose acquisition company (SPAC) boom did not play out as some folks in the technology and business worlds hoped. Despite a wave of optimism through early 2021, private companies that pursued public debuts with the help of blank-check companies have frequently failed to cover themselves in glory in the intervening quarters.
Even more, a wave of SPACs failed to take a market-changing number of unicorns and other high-priced private companies public; the number of private unicorns continues to grow more quickly than even a SPAC-juiced public market has been able to receive them.
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