Fewer investors doing due diligence, and a big incentive to get deals done quickly is usually not a great recipe.ġ) In its latest report Facebook claims that 95% of hate speech is caught by its algorithms before anyone has to report it.Ģ) Radio France Internationale unintentionally announced the deaths of 100 unlucky public figures this week. Giving someone a blank cheque to go and buy a company is a good way of saying you are fresh out of ideas yourself. What's less obvious is why investing in SPACs has become so popular. The managers of the SPAC probably aren't complaining either, they get fat fees for finding deals and usually some upside if the deal goes well. They just have to negotiate with one party and they don't have to go through the formal rigour of a roadshow. According to data from SPAC Analytics 187 companies have gone public by merging with, or being acquired by, one of these blank cheque companies, raising more than $66bn in the process - not far off the $76bn raised in the traditional IPO process.įor the companies going public, SPACs seem like a great idea. SPACs are essentially a big blank cheque, and to say they are booming this year would be about as understated as saying 2020 has been a weird year. Instead Arrival is merging with a SPAC - a Special Purpose Acquisition Company. Like many other companies this year, Arrival isn't going public via the traditional IPO route where you hire bankers, they talk to people and allocate shares in the deal. This week electric vehicle start-up Arrival announced a deal to become a public company - valuing the stealthy British company at a lofty $5.4bn. Just use the code " CHARTR" at checkout for a 15% discount. We've hooked you up with an inside deal as well. All printed on high-quality, glossy cards and shrink-wrapped in a custom box. It's that easy.Įach pack comes with 44 "Chart cards," 250 hilarious "Y-Axis" cards, and instructions. How to play: The Judge flips over an X-axis chart card (ranging from "Cups of Coffee" to "Number of People in an Elevator") and everyone else competes to play the funniest Y-axis card from their hand to describe what's happening in the chart. What gift do you get for a data-loving friend, family member or colleague? You get them the adult game of absurdly funny charts - the Charty Party game. Hence the vaccinated group had 95% fewer infections = 95% effectiveness. 162 of those were in the placebo group, and just 8 of them in the vaccine group. At the end of the trial 170 cases of COVID-19 had been recorded in the total group. The trial involved 41,000 people, half were given the actual vaccine, half were given a placebo. Okay let's run some numbers using the Pfizer-BioNTech vaccine as an example. If the 95% numbers turn out to be true and replicable then the COVID vaccines will rank among some of the most effective in modern medicine. That is why the initial numbers reported by Pfizer-BioNTech and Moderna are particularly encouraging in the context of other vaccine efficacy rates.ĭata from the CDC in this chart, which we've reproduced from Axios, compares the COVID-19 vaccines with those for other infectious diseases. Over the summer many experts were concerned that a possible COVID-19 vaccine might only be 50% effective, roughly similar to estimates of how effective the flu vaccine is. Oh and in case you were wondering, the answer is yes - even multi trillion dollar deals like this one get signed on Zoom in 2020. In the end India decided to skip the agreement, after fears that the deal would see a flood of cheap Chinese imports into the country, while doing little to help India sell its services - where it has more of a relative advantage. A major economic power in its own right, India was involved in negotiations up until last year. The one major omission from the deal is India. The deal signed represents the climax of more than a decade of negotiations, essentially combining a number of separate agreements between individual countries into one single agreement. In total RCEP is set to eliminate 90% of tariffs and will cover ~30% of the world's population. For China it cements their status as the chief economic power of the region, and it gives them another avenue and institution to exert soft power from. That makes RCEP the largest trading bloc in the world - bigger than both the EU and the US-Canada-Mexico agreement. This week 15 countries signed a free-trade agreement to create the Regional Comprehensive Economic Partnership (RCEP). There is a new kid on the (trading) bloc. The blank cheque boom. How 2020 has been the year of the SPAC.Vaccine effectiveness. How do the COVID-19 vaccines compare to vaccines for other diseases?.New kids on the bloc. 15 countries just signed the world's largest trade agreement.
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