Kind of wild that I’ve met so many PE or top-tier management consulting senior partners who are bleeding-heart Democrats, yet also happen to be some of the greediest SOBs who intentionally pull the ladder up behind them in the office. I’m not sure what to make of it.
Since everyone is arguing about whether Private Equity is good or evil, I want to say we shouldn’t have rosy glasses here.
A decent amount of what PE does is very destructive long-term.
That’s far from every deal or team though. Some of these companies grow a ton organically and create great jobs & payouts for investors and employees.
But many destroy businesses LT.
There’s an inherent mismatch where medium term profit maximization results in things that are actually bad for the consumer experience and ultimately the business long term. That 3-7 year exit timeline vs operating on a 20 year timeline eventually strips many businesses of what made them great for the sake of short term margin expansion.
Let’s get real guys - there’s so many silly costs that get cut & expenditures that get deferred as a result of medium-term profit maximization to pump up EV.
And that doesn’t even mention consolidation of critical services like healthcare.
I’ve been digging into how PE consolidation impacts pet care, funeral homes, urgent care centers, & more and it’s not something many of you should be proud of.
My next piece on that is next week on @HYHNewsletter
The wrong type of private equity investing is absolutely hollowing out dozens of sub-industries - particularly industries with life or death outcomes.
And those guys are likely going to hell for that.
Dude same in the early 80’s I had my grandpas couch and it doubled as my kitchen table in my studio apt. For dinner it was hit or miss depending on the type of canned meat I had. But lots of hotdogs with beans and rice. I walked about 3.5 miles to work each day until I was able to scrap together a bike that had a schwinn frame and mismatched tires and handlebars I got from people throwing bikes away.
@spookyh8r The anti introspection is very anti Christian it’s strange. I think the word may be getting misinterpreted or something but introspection is the way to move to high consciousness
@MilesTrav Boomers had pensions secure jobs that they didn’t have to take home they had the growing of America thanks to post World War Two infrastructure boom