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00:00So Vivek you must be pleased with the performance of the spike so far. Do you have any idea of the type of company that you are looking for. We know it's likely to be in the TMT sector and you know other assets have been out there as potential names in the past like something dash assets for example. Any ideas you can give us . Bonnie we're entering the greatest wealth creation opportunity in human history. It's like a trillion dollars or more that's been pumped over the last decade into these great companies . They're rocket ships and they're trying to reach escape velocity . So we're seeing lots of these companies. We have fifteen hundred to two thousand of them that we track are not portfolio . So these are big companies between hundred and 400 million in revenue recurring revenue growing at 40 50 percent a year and going up to gigantic markets. So we're going after the very best companies. These are eight plus companies that are going after a gigantic gigantic market and they'll be in the enterprise space. They'll be disrupting through data and technology financial services healthcare. So TMT covers a broad range. So we're seeing a lot of very exciting companies . We have to say that the history of the Special Purpose Acquisition Corp. is not a great one. Vivek they don't they don't necessarily return wonderfully to investors. Obviously there's a new focus on them now. Will it be different this time . Yeah we're in respect for your suspect one or was 30 years ago . They were kind of sleazy and people didn't know the companies . People didn't know the investors. Then in the early 2000s Citibank became the first mainstream bank to work with stocks and the IPO market had shot. It was the only alternative. And now we have dispatched to feel where it's actually a better path than an IPO. I was fortunate in that I was friends with many of the great entrepreneurs of the past. I was friends with guys like Steve Jobs. And the new entrepreneurs are similar. What do they want. They want speed. They want certainty. They can execute. And folks like Steve Jobs were great storytellers . The new generation of great entrepreneurs are also great storytellers and they too want speed and certainty. So with their s for which is what this back allows you to do because it's a merger you can actually tell the story. You can project financials. So I believe and this year's market reflects that where spec public companies are actually outpacing IPO is that the best companies will be using sparks in the future. Well we're definitely looking forward to finding out what kind of assets whether they be infrastructure or streaming or content or those kinds of assets that you do end up choosing . Vivek and please come on and let us know. But I do have to ask you in Orlando because you're in the bubble of the NBA bubble and obviously you made a rocket to Oklahoma to bowl which may not have been too well advised but you're facing the nets later on. And I'm wondering what what's your feeling about how the NBA has handled the Corona virus. Not a single case and games ongoing. That's right. And I was part of a subcommittee that we formed to shape how we would reopen the NBA shut the lights off. We became the first sports team to actually shut everything down. And I believe that we're now becoming the first team the first league to show how it should be done . Kudos to Adam Silver Mark. We have the best leadership in sports. I get tested once twice a day myself. So creating the bubble massive testing all of that is working. And for that reason we had zero cases so far. And I think the other leagues should take a page out of our book. Absolutely. Your forecast for the Darren Fox like . He's he's going to he's going to kill you guys tonight. You are going to kill you. He's too fast. He's too good. There's nothing you can do. You've got to keep up with him. Oh I'll send you I'll send you a Fox jersey. Number five I'll send your foxes. It's OK. Trust me it's really fine. But at the same time my might just be rooting for you. Now that you seem to be the underdog versus the. That's later on starting at 5:00 p.m. Eastern. Feedback. Thank you .

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Ranadive Calls SPACs 'Greatest Wealth Creation Opportunity in History'

Vivek Ranadive, Bow Capital founder and Sacramento Kings owner, discusses investment opportunities in special purpose acquisition companies (SPACs) and says other sports leagues should take a page out of the National Basketball Association's approach to resuming play amid the Covid-19 pandemic. He speaks with Bloomberg's Vonnie Quinn and Amanda Lang on "Bloomberg Markets." (Source: Bloomberg)

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