Peter Goldstein is CEO of Emmis Acquisition Corp., a NASDAQ-listed SPAC (EMISU), and founder of Exchange Listing and The Integrated CEO. After three decades in the capital markets, I have watched every cycle rewrite the rules of going public. The dot-com boom, the 2008 financial crisis, and the 2021 SPAC surge each left valuable lessons about discipline, valuation and resilience. One truth has never changed: Fundamentals always return to the center.