The End of "SPL" in Silicon Valley?

Boardroom Governance Newsletter #5 | October 2020 Edition

What strange times. While most of the world is still struggling with the effects of the pandemic, the U.S. stock market keeps soaring with a record number of IPOs including at least 139 SPACs raising over $54 billion in 2020 (accounting for ~40% of the money raised in IPOs this year).

One take-away, as claimed by Chamath Palihapitiya (who’s already done 3 SPACs acquiring Virgin Galactic, Opendoor and Clover Health), along with VC investors Bill Gurley and Keith Rabois, is that the concept of SPL (“Stay Private Longer”) was “the worst advice in Silicon Valley”: