Share: An Ark Invest webinar was held on April 13. Among the topics discussed by CEO Cathie Wood and the team were SPACs. Caution On SPACs: Ark Invest and Cathie Wood have two points of view when it comes to SPACs: "We share optimism and concern." Wood said the compensation structure of SPACs deprives individual investors and rewards the sponsors of SPACs. The large number of SPACs and early-stage companies going public is another cautionary item. The venture capital model of getting two out of 10 deals right is good for VC but not how equity markets operate, according to Wood. “We think there will be some accidents in the SPAC market," she said.