This week. I’m going to share with you my top three SPACs…
And why I think they’re good long-term investments…
- Opendoor:
I like this one because I think the real estate market is hot and likely will be for some time due to low-interest rates and lack of inventory. Another thing I’ve considered is the fact that people love real estate and house flipping shows. Chip and Joanna Gains have been able to create an entire media empire and channel based on this.
Generationally, it’s huge with millennials who can’t afford to build a new or custom house, but they can watch Youtube and redo their bathroom for $1,000. My sister is a prime example of this. She is a COVID nurse by day and demolishes her bathroom DIY-style by night.
- 23 and Me:
For me, I think Richard Branson is a visionary, and I like the companies he puts his money behind. I also think 23 and Me is the leader in their field, and there are likely ways for them to continue to grow from a technological standpoint that hasn’t yet been discovered. While one could argue it’s a crowded field, they were first and have brand recognition.
- Sofi:
Much like 23 and Me, I like Sofi because of Chamath (another innovator in his field). Additionally, I think this is a good choice because millennials love the online app model for banking and are drowning in student loan debt — something Sofi can assist with. The tools that it has, like wealth building, budgeting, etc, are things we all needed in school, but of course, were seldom taught. There has been a need for a solution for quite some time.
