Excess Returns · Wednesday, September 23, 2026
Jack Raines identified the widespread involvement of celebrities and public figures in launching SPARC entities as a clear indicator of a market bubble. He cited examples like Shaquille O'Neal and Paul Ryan, suggesting that such broad participation signaled an unsustainable level of hype.
“When Shaq's E.O. Neil has a spack, former Speaker from the House Paul Ryan has a spack, and a bunch of other random celebrities have spacks, it's probably a bubble.”
“Kind of like when, um, uh, Snoop Dogg launched a cryptocurrency that also marked the top for crypto.”