Palihapitiya Acknowledges Past SPAC Incentive Misalignment on Axios Show

According to Axios, Chamath Palihapitiya acknowledged on "The Axios Show" that his past SPAC efforts suffered from fundamentally misaligned incentives, stating "I could do a deal and still get paid" regardless of stock performance.

His new SPAC, American Exceptionalism Acquisition Corp., features a different structure where his shares only vest if the post-merger company trades at a 50% premium to the IPO price (above $15).