in the early ’90s uh for those of us who are old enough to remember the US had uh somewhat of a recession and so there was a capital shortage and two very smart lawyers who represented an industrial company that was short of capital and that needed to raise uh additional capital in the public markets came up with a device that we now know as the spec Betsy Cohen is a financial technology Pioneer who founded internet banking firm Bank Corp in 1999 and now serves as chairman of the Cohen Circle which she co-founded in 2015 to bring more than 10 spacks to Market if we go back to two years 2022 it seemed that there were an awful lot of spaxs it was really almost dominating the market it seemed like a lot of fun it’s come down a fair amount since then sure why has it come down uh I think there’s several reasons of one of many of the SPs did not find appropriate targets there were enough cases of failure in the market that a company would come to Market and then miss its first earnings projections that it became a much riskier vehicle to use