Chamath Palihapitiya says the SPAC boom will revive a shrinking stock market concentrated in FANG

(This story is for CNBC Pro subscribers only.)

This year’s eye-popping boom in special purpose acquisition companies, or SPACs, could help revive a shrinking stock market that’s grown highly concentrated in the so-called FANG names, according to Chamath Palihapitiya, who just unveiled a $4.8 billion blank-check deal for real estate start-up Opendoor.