Aug. 15 at 5:39 PM
$JTAI Abracadabra...
JetAI is investing in a potential SPAC that will be founded and run by some of the same people as JetAI. Oh boy.. probably more millions for founders, management, and facilitators.
JetAI founders, management, and facilitators have already made millions from this company—starting back when it was partly funded by rubes on Facebook— till now.
Will the overlapping management between JetAI and the SPAC (AIIA Sponsor Ltd.) benefit public shareholders, or will it tilt incentives even further toward insiders?
Are there possible conflicts of interest, a SPAC’s sponsor-friendly structure, and Jet.AI’s own history of financial losses to consider?
You tell me, IDK.
Regardless, Long-term investors in this new SPAC will most likely have a very bad bet on their hands, as did the trusting early long-term investors in JetAI, while much comp is doled out, and good stories are told.
