existed that whole time. So why now? What in particular in the market, or PE behavior, or what is driving a frenzy right now?

Seems like maybe the flood of liquidity is pushing issuers to public markets via SPACs and PEs will fund the PIPEs despite not great fundamentals because they hope to dump it on the public before people realize the underlying operating company doesn’t have the earnings or future earnings to support the lofty valuations.

Is that what’s up or is there something else going on?

When I ask other financial professionals the question they just point to the same arguments that have existed for SPACs for decades. So why now?