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SPAC Explosion ‘unsustainable’ according to Goldman CEO.

Goldman Sachs CEO David Solomon said he doesn’t think the current special purpose acquisition company (SPAC) boom is sustainable. He also said he wonders if the trend has “gone too far” SPACs are set up as shell companies solely for the purpose of taking companies public. Last year, they raised a record $78.7 billion from investors, FT reported. Some SPAC founders have come under scrutiny for their excessive compensation.

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