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Illustration: Sarah Grillo/Axios

Ted Fike and Justin Wilson have quietly stepped down as partners with SoftBank Vision Fund, in order to focus on SPACs with private equity firm Gores Group.

Why it matters: Gores Group is one of the most experienced blank-check investors, having bought Hostess Brands in 2016, and these hires suggest its new SPACs will kick the tires on high-growth tech unicorns.

The big picture: Both Fike and Wilson will be senior managing directors with Gores Group.

  • Fike, who joined SoftBank after stints at Google and Airbnb, was either a board director or observer with Vision Fund portfolio companies like DoorDash, Memphis Meats, and Plenty.
  • Wilson, also a former Googler, was either a director of observer with such companies as Alto Pharmacy, Clutter, and Opendoor (which recently agreed to be aquired by a SPAC).
  • Each also was involved with a notable Vision Fund failure: Wag for Fike and Brandless for Wilson.

Go deeper: SPACs are bizarro private equity

Go deeper

Dan Primack, author of Pro Rata
Nov 13, 2020 - Economy & Business

DoorDash files for IPO

Illustration: Aïda Amer/Axios

DoorDash filed Friday for its IPO, which is expected to price in the window between Thanksgiving and Christmas.

The state of play: There's a lot more noise than signal because of the pandemic.

Mike Allen, author of AM
11 mins ago - Politics & Policy

Biden adviser Cedric Richmond sees first-term progress on reparations

Illustration: "Axios on HBO"

White House senior adviser Cedric Richmond told "Axios on HBO" that it's "doable" for President Biden to make first-term progress on breaking down barriers for people of color, while Congress studies reparations for slavery.

Why it matters: Biden said on the campaign trail that he supports creation of a commission to study and develop proposals for reparations — direct payments for African-Americans.

Cyber CEO: Next war will hit regular Americans online

Any future real-world conflict between the United States and an adversary like China or Russia will have direct impacts on regular Americans because of the risk of cyber attack, Kevin Mandia, CEO of cybersecurity company FireEye, tells "Axios on HBO."

What they're saying: "The next conflict where the gloves come off in cyber, the American citizen will be dragged into it, whether they want to be or not. Period."