SPACs: Is This New Investment Vehicle Here to Stay?

SPACs: Is This New Investment Vehicle Here to Stay?

Ethan Wildes

A special purpose acquisition company (SPAC) is a company formed with the purpose of acquiring another company. This “shell company” raises its funds through an IPO, at which point investors only know what the management team and general focus of the SPAC will be. This is why they are considered “blank check” companies, due to the specific target company being unknown to investors. Investors are giving their money to a company without any operations or production, with the assumption that within typically two years, they will acquire a company. With all the mystery, it’s no surprise that many find SPACs shady and would be hesitant to invest in something so unsure. However, as more SPACs are created and have found success over the years, they have gained credibility and popularity. The successful groups and management are what many investors look for in a SPAC. So far in 2020, there have been over 80 SPACs with an average IPO of just over $400 million (SPAC IPO, 2020). This is already triple what was raised in 2018, with nearly double the average raise.

Direct Listing’s Potential Effect on Investment Banks

Direct Listing’s Potential Effect on Investment Banks

Jack Geiger

The fundamental definition of capitalism provides opportunity in the form of wealth to those who make certain investments. Despite some of their practices coming under scrutiny, investment banks have long played a crucial part to the US economy, and especially to capitalism. Investment banks have provided capital raising services to companies in search of capital to expand by acting as a middleman between entrepreneurship and public investors. One drawback to investment banks engaging in capital raising is that they pertain large fees, and at times high risk to their clients. Recently, a new form of capital raising called “direct listing” will eliminate the need for underwriters and allow firms to go immediately to the New York Stock Exchange, receiving capital from the public directly. But, this newly added capital raising program poses a major threat to many investment banks.

Private Colleges vs. Public Colleges During COVID-19

Private Colleges vs. Public Colleges During COVID-19

Luke Kathman

As the Fall semester starts, colleges have taken very different approaches as to how to reopen their campuses. Some universities have decided to take very substantial precautions while others have decided to do little to nothing about Coronavirus. The response to COVID-19 on college campuses ranges anywhere from going completely online to continuing with almost all face to face instruction. Only time will tell which of these approaches will prove to be the best to reduce COVID-19 cases moving forward.

The Evolution of Artificial Intelligence

The Evolution of Artificial Intelligence

Ina Patrice Gonzales

As humanity continues to flourish, so do our innovations. Technological advancements exemplify humanity’s intelligence as well as creativity and are a component to our society’s existence. While technologies assist us in our daily lives, there is speculation as to when or if our electronic creations will eventually surpass us in terms of intellect. The mere creation of machines that are created to be able to learn for themselves is a concept that was once dismissed as unattainable. While humans have not yet perfected the art of artificial consciousness, the trend seen with recent technological advancements suggests that we are close to achieving this goal. With multiple billion dollar companies pouring large amounts of money into advancing this field and technology like Apple’s Siri or Amazon’s Alexa, it is apparent that the idea of artificial intelligence is now in the present.

Election Day in a Global Pandemic

Election Day in a Global Pandemic

Thomas DellaCroce

With election day in less than two months and national conventions underway, it is worthwhile to start thinking about what election day will actually look like in the midst of the COVID-19 pandemic. While some states have still held primary elections since the pandemic appeared in the US in March, sixteen states have postponed their primaries. The logistics of executing a nationwide election are complex, and the solution will likely be a combination of early voting, mail-in voting, and socially-distanced in person voting. President Trump has already raised questions about the legitimacy of mail-in voting, although his claims about prevalent mail-in voter fraud have been widely contradicted. This concern could lead to long lines at in-person polling places on election day, which would create organization nightmares for those enforcing social distancing guidelines. All of these factors set up a gloomy picture for what voting will actually look like on November 3rd.

Why the CARES Act Needs To Be Recurring

Why the CARES Act Needs To Be Recurring

Jon Wang

As the coronavirus pandemic continues to affect the global economy, the US continues to suffer from diminishing consumer consumption and, as a result, continued decline in internal revenues. A lacking consumer confidence, deficiency in consumer demand, and uncertainty surrounding the future of the global virus landscape continues to obscure the future of the global economy (Torry, 2020). Overall, all of these indicators are pointing towards the concept that a cure must be found in order for the economy to rebound. Presently, however, the United States government must provide recurring stimulus wages to households for ensuring household financial adequacy.

Part 2 of 2: Working From Home – A Pandemic Necessity or Future Reality?

Part 2 of 2: Working From Home – A Pandemic Necessity or Future Reality?

Meryem Berrada

Statistics on the productivity of employees working from home has given insight into the viability of continuing this system even after the pandemic comes to an end. Reports have shown that the pandemic has proved the success of remote working. Just because we have seen that this system can work, is that enough to argue that it should be implemented in the long-term? Interviews conducted with employees hired in the last two years has allowed for much insight into how real professionals are responding to their change in workplace.

History Repeats Itself: Pandemic, Politics, and Public Health

History Repeats Itself: Pandemic, Politics, and Public Health

Catherine Chen

More than three months since the beginning of coronavirus lockdowns and stay-at-home orders, President Donald Trump tweeted for the first time a photograph of himself wearing a mask. After months of mixed messaging from the federal government, the act of wearing a mask has become politicized. Anti-mask propaganda is widely circulated on social media sites, with trending hashtags like #maskscauseillness and #nomasksneeded. Despite a large body of scientific research confirming the efficacy of face masks in reducing the transmission of respiratory viruses (MacIntyre et al, 2009; Milton et al, 2013; Liang et al, 2020; Leung et al, 2020) and prominent public health organizations like the CDC and WHO recommending their use, masks have evolved into a political painpoint, with proponents shouting common sense and opponents viewing mask mandates as attacks on individual freedom. How did we get to this point?

A Way Out: The Middle East Can Harness Renewable Energies to Break Free from Oil

A Way Out: The Middle East Can Harness Renewable Energies to Break Free from Oil

Adam Hilelly

For the past half decade, the Middle East, and in particular the Gulf region, have been dependent on oil revenues to sustain development plans and grow the economic pie. However, as the world gradually turns away from fossil fuel sources, renewable energy is quickly becoming an attractive means to spur foreign and domestic investment in the region. Specifically, solar energy is positioning itself as a highly valuable source of energy for the Middle East. This technological breakthrough, which has made strides internationally, can prove incredibly lucrative to countries such as Saudi Arabia, Egypt, and Kuwait. The resource is also becoming more enticing because of its scalability possibilities. A few years ago, solar panels were mostly used in households for personal purposes. Today, governments across the region are enacting legislation to promote the technology at larger scales and industries. This reality is exemplified by the International Renewable Energy Agency (IRENA)’s recent statement: “Solar photovoltaic (PV) technology is now ‘the most competitive form of power generation’ in the Gulf. The Gulf Cooperation Council (GCC) countries plan to ‘install a total of almost 7 gigawatts by the early 2020s.” Additionally, the World Bank projects that prime energy demand will rise at an annual rate of 1.9 percent through 2035, ensuring long-term necessity for new resources and generation (Arab News). These exciting developments are promising for the region’s energy stability and economic diversification.

What Has Caused The Rise of Retail Traders in 2020?

What Has Caused The Rise of Retail Traders in 2020?

Steven Patterson

Ever since mid march, a vast majority of the United States has been in a quarantine due to the breakout of COVID-19. Regular life for all citizens has been halted for a certain period of time and many restaurants, bars, and other forms of entertainment, such as professional sports and casinos, have been put on hold. On March 11th, the National Basketball Association suspended their season after Rudy Gobert tested positive for coronavirus minutes before tip-off versus the Oklahoma Thunder. Following suit, the MLB suspended their spring training activities on March 12th along with the NHL who was in the later half of their season. According to estimates from the American Gaming Association, Americans gamble more than $150 billion dollars illegally on sports through bookies or offshore websites. (Ponseti/American Gaming Association) When these sports all got cancelled, these gamblers had to fuel their addiction and put their money into some place. This along with other factors such as free time from unemployment and stimulus checks from the federal government lead to a boom in retail trading in 2020.

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