“The last time was never a success.”

The so-called SPAC King says it has set up dozens of special purpose acquisition companies that ultimately lost billions of dollars in investors, and is probably back in business.

Chamath Palihapitiya, venture capitalist and co-host of popular podcast “All-in” Responded to social media polls with over 50,000 responses The results overwhelmingly indicated that he should not launch another SPAC by saying he would ignore the discovery.

He said he received calls from many Wall Street and the crypto “Titan,” indicating that they wanted to launch a SPAC, and declared on social media platform X, “I’ll probably do that.”

A special purpose acquisition company is a shell company that was established with the purpose of acquiring or merging with a private company for public disclosure. This is a way to avoid costs and regulatory activities that are publicly available through traditional initial public offerings. It is also known as a blank check company.

Palihapitiya was not thwarted by his previous performances in a small way. “Maybe it’s going to get better this time? Who knows? But the risks are clear. The last time I was never successful,” he said.

The data compiled by MarketWatch using Factset numbers highlights that. None of his spaks outweigh the S&P 500 SPX from day one of the trade, most struggled or failed completely.

Two of his best-performing spacks returned the investors $10 per share as Palihapitiya couldn’t find a merger partner.