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  "documentTitle": "Skillz, Inc. (SKLZ)",
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  "presentationDate": "2021-03-08 00:00:00",
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      "text": "valuation: $3.5 billion",
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      "text": "Aggressive projections did not sit well with all employees at SKLZ. Former employees we spoke to commonly referred to SKLZ numbers as “smoke and mirrors” and SKLZ recently settled a lawsuit with Eric Cooper, Skillz’s former Head of Finance and Administration, who claimed he was fired for not going along with CEO Andrew Paradise’s unattainably aggressive financial projections.",
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      "text": "If none of what we’ve said matters to you, you can always purchase independent third party data from a number of respected data providers and you will see what we see coming in 1Q21. It’s just a pretty little piece of ice in the water until you hit it and find out it’s an iceberg.",
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      "text": "This appears to be another SPAC preying on retail investors by assigning a ridiculous valuation for the SPAC merger based on self-serving projections. As we all know by now, traditional IPO prospectuses require historical financials and rarely include any projections, as forward-looking statements protections do not apply to them. However, forward-looking statements are protected in SPAC proxies, allowing them to use whatever projections they want for investor presentations and even to determine a valuation for the business. This allowed SKLZ to obtain a SPAC valuation of $3.5 billion – based on a multiple of projected 2022 revenue – while its most recent private equity valuation was only $725 million on August 30, 2019, almost exactly one year before the SPAC.",
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      "text": "Former employees we spoke to commonly referred to SKLZ numbers as “smoke and mirrors” — Wolfpack Research",
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