Chamath Palihapitiya says the SPAC boom will revive a shrinking stock market concentrated in FANG

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Chamath Palihapitiya

Cameron Costa | CNBC

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This year’s eye-popping boom in special purpose acquisition companies, or SPACs, could help revive a shrinking stock market that’s grown highly concentrated in the so-called FANG names, according to Chamath Palihapitiya, who just unveiled a $4.8 billion blank-check deal for real estate start-up Opendoor.