Private Equity: Apex Predator

Рет қаралды 33,867

19 күн бұрын

An explanation of private equity, often called "the vampires of Wall Street," and how they are devouring the economy and impacting many parts of your life.
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Sources (titles shortened for character limit)
PE-Associated Lender Helped Precipitate Nursing-Home Implosion
www.politico.com/news/magazin...
Blackstone CARD
www.nbcnews.com/health/health...
Sick profit: Investigating PE's takeover of health care
www.cbsnews.com/news/health-c...
Rising danger of PE in healthcare
lowninstitute.org/the-rising-...
Growth & Influence of PE in Health Care
nihcm.org/publications/unders...
Can Nonprofit Disrupt the Pricey Prison Phone Industry?
www.bloomberg.com/news/articl...
When PE Acquire Nursing Homes
www.nber.org/digest/202104/ho...
PE Buyouts in Healthcare
www.cepr.net/wp-content/uploa...
The states with biggest PE influence
www.nbcnews.com/news/us-news/...
McKinsey: Private Markets in Slower Era
www.mckinsey.com/industries/p...
PE explained
www.propublica.org/article/wh...
PE Owns Hawaii’s Hotels
www.hawaiibusiness.com/privat...
AIC - PE brands
www.investmentcouncil.org/bui...
Secretive Industry Devouring the U.S. Economy
www.theatlantic.com/ideas/arc...
Economic contribution of PE 2022
www.investmentcouncil.org/wp-...
PE: Future of Housing Security
urbandemos.nyu.edu/wp-content...
PE in Higher Education
www.nber.org/papers/w24976
PE Tries to Protect Profit Center
prospect.org/power/private-eq...
Blackwater in hands of PE
www.privateequityinternationa...
PE defense firms
responsiblestatecraft.org/202...
PE in Autism Services
cepr.net/report/pocketing-mon...
PE Vampires
www.thenation.com/article/arc...
Vulture capitalists ate Toys 'R' Us
theweek.com/articles/761124/h...
PE home flippers
www.businessinsider.com/big-i...
State of housing 2022
www.jchs.harvard.edu/sites/de...
PE in Higher Education
cepr.net/private-equity-in-hi...
What went wrong at Red Lobster
abc7ny.com/post/is-red-lobste...
Red Lobster endless shrimp
www.washingtonpost.com/nation...
The death of Red Lobster
www.businessinsider.com/red-l...
PE Pillage: Grocery Stores
prospect.org/power/private-eq...
PE’s Role in Health Care
www.commonwealthfund.org/publ...
Forecast, PE market size
www.statista.com/statistics/2...
Hospital Adverse Patient Outcomes, PE
jamanetwork.com/journals/jama...
Blackstone CARD
www.nbcnews.com/health/health...
Economic contribution of PE
www.investmentcouncil.org/wp-...
CARD bankruptcy
bankruptcy-proxy-api.dowjones...
Political donations
www.opensecrets.org/industrie...

Пікірлер: 512

@declanmoran 18 күн бұрын

"The autism services industry, as it is coming to be called, is a hotspot for private equity investment". Given 100 years I couldn't come up with a more nightmarish sentence.

@cyberninjazero5659 17 күн бұрын

But after hearing it, I can think of many more the easiest, starting with replacing autism with just "special needs"

@htpkey 17 күн бұрын

This is the most evil thing ever. Even if I wanted to write a piece of fiction where the vulnerable are exploited, I wouldn't come up with this.

@ChucklesMcGurk 16 күн бұрын

You have to wonder why so many people are disabled in the first place, are they in fact bringing about the very thing they want to exploit.

@kitchensinkmuses4947 15 күн бұрын

@@htpkey everything in this video would work as a plot to a distopian horror INDIVIDUALLY, let alone all together

@jenbadabam8801 15 күн бұрын

They made ABA even worse...

@dyl9013 18 күн бұрын

I'm ignoring the grease fire in my kitchen to watch this

@penelopegreene 18 күн бұрын

It's the grease fire in our collective kitchen.

@Bambo699 18 күн бұрын

The grease fire in private equities' kitchen

@JamieAlice92 18 күн бұрын

A true fan wouldn’t have even noticed the fire

@penelopegreene 18 күн бұрын

@@JamieAlice92 😵‍💫

@penelopegreene 18 күн бұрын

@@Bambo699 Don't worry, they'll make a mint out of it... 🤮

@PXAbstraction 18 күн бұрын

Private Equity: Among the most awful word pairings in the English language. You hear it, you automatically know evil is involved.

@ATMOSK1234 18 күн бұрын

They used to be much worse in the 80s when we called them corporate raiders.

@Fx_- 17 күн бұрын

@@ATMOSK1234there are worse now. They were just uncovered and not hiding as much as they do now.

@VulpesHilarianus 17 күн бұрын

@@ATMOSK1234 Corporate raiders were a similar evil, but not the same. Their intent was to take successful giants and parasitize them. Private equity isn't a parasite, it's a carrion scavenger. Strip the weak and dying of nutrients and leave the bones, providing nothing to the surroundings once the thing dies.

@Ken-no5ip 15 күн бұрын

lol cry about it.

@PXAbstraction 15 күн бұрын

@@Ken-no5ip Hurrrrrrrrrrrrrrrrrrrr

@kirbymarchbarcena 18 күн бұрын

JORDAN BELFORT: I am the wolf of Wall Street PRIVATE EQUITY FIRMS: We are the vampires

@catriona_drummond 17 күн бұрын

In Germany we call them Locusts.

@user-xv5gu7il1r 14 күн бұрын

oy vey, don't be so antisemitic!

@1989eol 14 күн бұрын

Team Edward or Team Jacob?

@danwatkins9526 18 күн бұрын

Nice timing. Just this week, my employer announced that PE is moving in on our company.

@shesh2265 17 күн бұрын

1/3 chance you get fired

@tomlewis4205 17 күн бұрын

Jump before you get pushed, if you can.

@tribes2archivist 17 күн бұрын

Agree with the "start jumping" guy

@camelopardalis84 17 күн бұрын

@@tribes2archivist Maxbe it's better he doesn't risk his unemployment benefits by quitting. If that is even something that could happen.

@GabrielPettier 16 күн бұрын

I wonder how a company could protect itself against that, it might be too late if they are already moving in, but i guess a company could have in all its contracts, something to the tune of "it cannot be bought with its own money", i.e, it cannot be responsible for debt taken in order to buy itself. Of course, that would require management to want hard enough that not to happen. Ideally it would be possible to make them back off by ensuring the company *immediately* fails (e.g from general strike) if such a move happens, but I'm french, and I'm not optimistic about the success of such social movements, especially in the US. Aside that, the best time to look for a job, is when you already have one, as negotiation is always easier when you have the time to look for other options.

@robloggia 18 күн бұрын

Personally I'd use the term parasite because at least predators are part of the food chain.

@nescius2 18 күн бұрын

parasite are part of the food chain

@milliman4 17 күн бұрын

Fire line

@nescius2 17 күн бұрын

the system is all parasites where poor work for the rich, but this one actually kills its _victims_ quite quickly in biology parasites usually tend not to kill their victims and are usually a bit smaller than their victims.

@shoggosh 16 күн бұрын

Parasites are actually a very important part of the food chain. Parasite biodiversity is enormous and is a big driver of evolutionary adaptation in their hosts. Parasite is wayyyy to big a compliment for these people.

@shoggosh 16 күн бұрын

*too

@regularbeaneater 18 күн бұрын

Given that corporations are people, doesn't that make this kidnapping, slavery, torture, and murder?

@picahudsoniaunflocked5426 17 күн бұрын

Extortion...

@hermask815 17 күн бұрын

Sooo? A conviction for those crimes would warrant a death sentence, since full reparation is not a concept in our current society. From top down until what level?

@stevenhines5550 16 күн бұрын

Corporations are not people. They have the rights of people but none of the responsibilities and definitely none of the legal exposure.

@Supermasterchief 11 күн бұрын

Yeah I'm your 100 like 😢

@freshbornmute2752 2 күн бұрын

You and what law?

@jmaster2855 17 күн бұрын

I just wanted to say, as someone whose been a fan since the day where you mostly focused on film/tv criticism and analysis, I've been loving seeing your coverage of real-world issues. I feel like- more than most media critics who throw their hat in the ring of serious video essays- your presentation, writing and cynical sense of humor fit in perfectly with this subject matter. Always happy to see one of these from you.

@PorcoWest 18 күн бұрын

This was an amazing piece as ever but I must say this to me is the most bleak episode you have ever produced the world is slowly being murdered and most people dont seem to care. Keep up the great work as ever.

@IllusionSector 18 күн бұрын

My introduction to the subject matter was a 1999 Adam Curtis BBC documentary called *The Mayfair Set.* I'm beginning to think that the subject matter may also have inspired a Deep Purple song called *Fingers to the Bone.*

@radiofreeacab 17 күн бұрын

Communism started to look pretty good at some point, huh? 😮❤🎉

@IllusionSector 17 күн бұрын

@@radiofreeacab Inequality tends to reassert itself one way or another - regardless of the system.

@radiofreeacab 17 күн бұрын

@@IllusionSector regardless, there's something to be said for the fact that Cuba is fully self-sufficient in terms of basic needs, enjoys universal healthcare and exports more doctors than any country on the planet despite being embargoed by the Empire ┐⁠(⁠ ⁠∵⁠ ⁠)⁠┌

@IllusionSector 17 күн бұрын

@@radiofreeacab It's not that cut and dry but that topic probably deserves better than a keyboard exchange in the KZfaq comment section.

@thesahel7218 18 күн бұрын

I'm gonna guess that the executives on both sides of private equity are walking away with millions, meanwhile the workers are left unemployed and screwed. It's literally a money glitch but only for the rich.

@stipebalenovic6497 17 күн бұрын

Yes. Lets say this: But if I start a company I don't start it for my future employees, but myself. And if a company that I work for goes under or gets sold out, I will not care that much but just take something else to do. If I am an owner and the company stagnates or goes down I would be a nervous wreck for years, each day, no holidays or vacation. Employees are working 8h a day, and I am working non stop, trying to just make the thing hold on another year hoping that the new hire is not a bullshit artist, window is broken, and this accounting chick has another baby and I haven't seen her in 2 years and the substitute is a confused mess, ofc Im paying both. Cant negotiate and handle people very well? Hope you like being bankrupt or an employee. I mentioned the state of the finances of the company in the meeting, people were not really taking it seriously at all. I mean, they still get their salary, so what do they care. Makes sense. Then some investment firm comes along, says here is some money for you to leave. I meant, that is why you spent these 7 years, right? Ah to hell with it, I say, take the money and let the stupid supplier messing up the order again be someone else's problem. I'm off, just like my best programmer was 3 years ago on a 3 weeks notice, when I had to beg the client for more time till I find a freelancer to rob me of money for shoddy work. Or I stay and watch myself become 67 year old mediocre success with heart problems and no one to inherit the firm, nobody caring if it goes under. It only took me 30 years to make same money I could have gotten from the investors 2 decades ago or being born as a hot girl and showing my cooch on twich. Do they have to ruin the company when the founder/owner sells? No, ofc not. But the point is everyone is there for money, not for hanging out.

@Tofu_va_Bien 17 күн бұрын

@@stipebalenovic6497 Idk if souls exist but you definitely don't have one.

@philipglasgow3307 16 күн бұрын

@@stipebalenovic6497 Jesus, it sounds like you are shit at running a business.

@darkchild130 14 күн бұрын

@@stipebalenovic6497a lot of people act horrified upon discovering these schemes, when in reality they are just horrified they can't do it themselves.

@user-xv5gu7il1r 14 күн бұрын

@@stipebalenovic6497 hey, then learn program yourself and do all the jobs you don't want to pay, see how easy it is. you are belittling professionals so i assume you are a supergenius that can do it all

@MechMK1 18 күн бұрын

If things seem bleak, I want you to remember that there are more of us than there are of them.

@nineteenfortyeight6762 18 күн бұрын

The Hamptons is not a defensible position

@LINDA-de-J0NG 18 күн бұрын

Do you realise how many people among the us love the them? Have you not seen the effect of other people's money on most people?

@camelopardalis84 17 күн бұрын

@@LINDA-de-J0NG These people tend to be inactive, though. The good enough people could remove the not good enough people from power and those who could be made to at least act good enough could be made to do so by the actually good enough people.

@bensmith8682 15 күн бұрын

And you aren’t going to do shit about it

@Nek-my8jq 14 күн бұрын

Germany realized this in the 1930s

@seemoretoys5944 18 күн бұрын

I'd buy you two beers, but I'd borrow the money to do it, and then rent you the beer since you only rent beer anyway.

@willfully_jess 17 күн бұрын

As a 4 year employee of the Autism INDUSTRY, this is a hundred percent true. Since this past year, my company has increased hours for our clients. These children are in the center M-F , sometimes from 8 am to 5 pm, and our company is now adding Saturday sessions. As a 4 day work week advocate, I will never volunteer for working on a Saturday as I believe that it shouldn't be normalized. This new policy is strictly profit focused. 22:22

@geoffhoutman1557 17 күн бұрын

These PE folks stoke the right vs left narrative when it’s what it’s always been- rich vs poor. Great video Georg.

@waterbloom1213 12 күн бұрын

Kinda. The underlying principle is a "use debt enabled by the banking system which is allied with the State" thing. As it so happens, the thing that enables this are people against free markets when it comes to monetary and banking systems, both from the right and left, because they love the leverage of debt. This is an outcome of politics and regulation in these specific areas.

@MrBobthened 7 күн бұрын

The history of all hitherto existing societies is the history of class struggle.

@willwalshe 13 күн бұрын

Long time listener, first time caller. Have followed you for years, and have loved your ongoing deep dive from pop culture into these real world issues, it's fantastic and forensic work. But dear god, this one was like a slow motion gut punch. "The autism services industry....is a hotspot for private equity investment." Dear lord, we really are doomed as a species aren't we..

@ClayScarlett 18 күн бұрын

I like the way you edit your videos - it's simple, but suits the tone and message. Kudos for your efforts, great video as always 👏🏻

@bmangrem 17 күн бұрын

blackstone sounds like the name of a corrupt company in a silly 90's movie. can't believe they actually named their company that

@robertrada4783 17 күн бұрын

There’s nothing I despise more than private equity. You’ve touched on the tip of the iceberg. Thank you.

@TomisaLami 18 күн бұрын

No one not one single person ever in the past present or future will need a billionaire none but every single billionaire that’s ever existed needs us. These are just people and there are things we can do to them

@LINDA-de-J0NG 18 күн бұрын

No. No there aren't. Really. There are not.

@djamilggmail 17 күн бұрын

They have blackwater and politicians in their pockets, what do you have?

@camelopardalis84 17 күн бұрын

@@LINDA-de-J0NG Biden and Netanyahu will meet on July 24th, I think. There will be a lot of security for a reason. Security that isn't perfect. Of course things could be done.

@coltonc7832 17 күн бұрын

@@LINDA-de-J0NG There are things we can do... in minecraft!

@jasondaveries9716 17 күн бұрын

Smaller capitalists are a curse too. I work in a restaurant. I see the owner once in a while coming in to pick up raw steak and chicken to feed to his dog. Other than that he does fuck all. We do the work, he collects the profits. No less parasitic than private equity if you ask me.

@Armisaeru 17 күн бұрын

A remixed version of Koyaanisqatsi was the perfect choice for this video. As usual, a lucid and compelling summary. Thanks Georg

@simon_jakobsson 18 күн бұрын

Great (and disturbing) video. Thanks for making these.

@nobody8717 18 күн бұрын

in 2023, private equity firms purchased 46% of all single-family housing available on the market in the US. around 20% of these purchases were direct transactions, without loans.

@JimTheCurator 17 күн бұрын

Do you have a source for this? I don't doubt you, I just want a source that verifies it, and search engines suck so I don't know if I can even google one.

@coltonc7832 17 күн бұрын

@@JimTheCurator He's almost right, it's actually 44% of flipped single family homes: "A previous version of this report incorrectly reported the nature of private equity firms’ involvement in the purchases of single-family houses. They were purchasers of 44% of flipped homes, according to the Business Insider study." Just look it up, this took me 30 seconds to find with startpage as the first result from the Washington Times.

@ScowlieMeerkat 18 күн бұрын

Thorough and depressing. Great work.

@stringfellowbalk2654 18 күн бұрын

Realize there are multiple swamps. Not just D.C..

@cmajaa1 17 күн бұрын

And they enable each other.

@boslyporshy6553 15 күн бұрын

Drain Swamp. It fills back up. Now what?

@jpotter2086 18 күн бұрын

An "industry" he says. Didn't mention driving up home prices drives up property taxes. A rapacious windfall for local gov'ts, a burden for individual homeowners. If they sell, more for private quity to buy. If they tap into their ephemeral increased equity, the resulting debt will almost certainly be held by Big Finance. Systems of interlocking feedback loops, hoovering up and centralizing wealth.

@xtiphuny89 18 күн бұрын

Exactly! Thank you for adding this.

@MsDragonbal776 17 күн бұрын

THIS!! And America is incredibly vicious with property taxes. There are areas in suburban towns where property taxes are more than years salary of minimum wage.

@Mossmyr 17 күн бұрын

What are you talking about? Yes he said all this. Did you watch the video?

@Spudcore 17 күн бұрын

He did say that.

@methanedirigible 16 күн бұрын

Jerry Potter _and the video he didn’t bother to actually watch_ 🧙 Favourite book

@MoneyshotLincoln 17 күн бұрын

Apex predator sure, but more like antibiotic resistant tuberculosis than tigers or orcas.

@ImpalerVladTepes 9 күн бұрын

I worked for a booming company a while back where the CEO sold it to a PE and ran. At the time I didn't know what PEs were about so I asked a friend of mine who had worked in finance. His response, and I still remember it clearly, was "run".

@ConfusedApe 18 күн бұрын

How is anything Georg ever talks about legal?

@LINDA-de-J0NG 18 күн бұрын

Because what and who he talks about is of zero threat to them.

@alun7006 18 күн бұрын

Because the people doing this shit are the same ones who write the rules.

@runningcommentary2125 17 күн бұрын

America.

@TheReal_FishFins 17 күн бұрын

This late stage global capitalism needs to go. The fact you can take out a loan and have the thing you buy pay it is insane. Serious bullies and comic book level mind fuckery of how that's even allowed.

@kingcosworth2643 17 күн бұрын

When capitalism and government control occur, it's never good.

@shandaughter 17 күн бұрын

Wasn't Patrick Batemen in hedge funds? This makes so much more sense now

@mattgilbert7347 17 күн бұрын

Mergers and Acquisitions. Yes, he was a looter.

@no-one-in-particular 16 күн бұрын

@@mattgilbert7347 In the film their business cards all misspell it as aquisitions

@shandaughter 15 күн бұрын

@@mattgilbert7347you mean 'Murders and Executions' ?

@mattgilbert7347 15 күн бұрын

@@shandaughter Most of my friends in Murders and Executions just hate it!

@waterbloom1213 12 күн бұрын

He was an investment banker I believe. Hedge funds are about trading and investing using financial derivate instrument's to lower risk.

@DefamedRice 17 күн бұрын

I always believed "real" capitalism was essentially over a few decades ago when big tech appeared, and we basically entered corporate feudalism, but yeah, this is worse. Noblesse oblige doesn't exist here.

@phaedrussmith1949 14 күн бұрын

But it appears to. Haven't you seen those huge (in physical size, I mean) checks for one or two thousand dollars displayed prominently on the wall in your local Sam's Club, made out to some local non profit?

@DefamedRice 13 күн бұрын

That's a good point, I generally just treat charitable instances as more existing for tax purposes, but they can easily be construed as "investing in the community" while avoiding paying taxes that would "invest in the community" probably more consistently. Grants and endowments I do view a bit differently, since I worked in the performing arts for many years and as much as I dislike Chevron, they partly allowed for my organization to exist, but they still have that cynical edge to them. I think fairly paying a corporate tax rate of 50% (an eisenhower era rate), would be more beneficial in the long term, after all raising the quality of people raises the quality of the economy, and more they can buy, but we know these people don't care about the economy.

@MrBobthened 7 күн бұрын

This is real capitalism. What we’re seeing today is just the inevitable result of the capitalist mode of production.

@KapiteinKrentebol 18 күн бұрын

Sell your buildings and then renting them back, that's pretty much how V&D went bankrupt. Their buildings are still ghosthouses in the middle of the city.

@GeorgRockallSchmidt 17 күн бұрын

Looks like they were sold to private equity in 2007, bankrupt in 2015.

@KapiteinKrentebol 16 күн бұрын

@@GeorgRockallSchmidt Yes, bought and stripped of assets by Sun Capital and cost 10,000 people their jobs.

@benjones1717 18 күн бұрын

People on the left assume those on the right don't get this. People on the right assume those on the left don't get this. Both sides take the bait and chase the red cape, even though they know the matador is there.

@mattposky2892 18 күн бұрын

Bingo.

@eatmanyzoos 18 күн бұрын

one side hires people like Lina kahn who are actually doing something about predatory wealthy scum. the other side hires uneducated unqualified saboteurs so idk. not the same bro. I'm sure the right gets it. but doesn't really care. what do they actually care about besides destroying any regulatory ability the government has?

@fuzzy7644 17 күн бұрын

Sometimes I wish they would stop point at the other side and realise that it's almost always the bullshit artist behide the curtain selling everything they have for themselves.

@Hoots_Maguire 17 күн бұрын

I've got a boss fight for you: Grace Blakeley vs Blackstone. Grace's book Vulture Capitalism is the most important non-fiction book of our time. Big words for a small book, but it's potent stuff.

@seanfogarty5559 17 күн бұрын

Terrific timing. A fund (can't recall the name) bought up my parents mortgage, which has been struggling since my father became sick many years ago and had to limit his repayments. We're not even American, but they're an American company. Evil.

@milliman4 17 күн бұрын

How does this channel not get a million views a video, this is all very important information!?

@falgalhutkinsmarzcal3962 18 күн бұрын

As soon as he mentioned about Toys R Us I thought about Romney and his ventures into vulture capitalism.

@adashofbitter 17 күн бұрын

You’re like John Oliver if you replace the jokes with bitter, deadpan statements of horror and doom… Guess which one makes me laugh and brings joy to my day, though?

@PlatonsArm 18 күн бұрын

Wooow, best video yet! Absolutely brilliant. THANK YOU.

@thebobyable 17 күн бұрын

When he said "here's an ad for some poison" i get one for Botox 😂

@Punisher9419 17 күн бұрын

I don't understand how you can buy a company with a loan that the company is responsible for? That doesn't sound like something the company owner would ever do unless they where brain dead. Maybe I should buy a house and expect the owner of the house to pay for the loan for it.

@frequentfrenzied 17 күн бұрын

Buying a home you don't plan on living in and making the person who actually lives there pay the loan on it is exactly what landlords and real estate companies do. Let's say a person is struggling to pay their mortgage every month, so they decide to get rid of their mortgage by selling their home. A private equity firm comes along and buys the home from them. The private equity firm then sells the home to a real estate agency that they also own, and recoups all of the costs of the initial investment when they bought the home. Their real estate agency now rents the home out at twice the monthly rate that the owner was originally paying in a mortgage payment every month. Now the new tenant living in the home must begin taking on debt to pay the higher rent unless they can find some way to increase the amount of money that they are bringing in every month. Eventually their debt burden gets too high and no lenders will be willing to lend them any more money, and they will be forced to declare bankruptcy. Meanwhile, the real estate agency will not do any kind of upkeep or maintenance on the property and it will degrade into a squalid hovel. Once this has fully played out, the real estate agency will sell the property off to whoever will buy it (like a government sponsored HUD project) and pocket whatever profits they've made in the mean time. You say someone would have to be brain-dead to do this, and the fact of the matter is that many people are. Some are also very desperate. Some only plan to stick around for the initial payday when their property is first acquired, and they make sure to vacate the premises before things really get bad. Nobody ever said that the tenant that eventually declares bankruptcy and loses everything needs to be the same person that initially owned the house to begin with.

@KarmaSpaz12 17 күн бұрын

Toys R Us sued Aussie bricks and mortar stores for using the R Us line despite existing before the company got here. I wonder if this was around the time the brand got brought out and the investors thought it'd be an easy punch down pay day? Ancient history, cold comforts, yadda yadda.

@Riple101 17 күн бұрын

This makes me mad. Mad, I tell you.

@adashofbitter 17 күн бұрын

I’m adding Bane Capital alongside “Dominion Voting Systems” to ridiculously sinister sounding business names.

@MrBobthened 7 күн бұрын

How about Palantir Technologies (literally named after the orb Saruman uses to spy on the Fellowship in Lord of the Rings)?!

@scottmccaffrey6155 15 күн бұрын

It seems like private equity really likes industries where people can’t or usually don’t shop around like medical and the autism services they mention, but in the past, those services in turn were not supposed to be all about profit, and there were some expectations those businesses wouldn’t squeeze out every dime they could. Private equity has no such hesitations.

@VaughnJogVlog 17 күн бұрын

You’re doing the lord’s work, sir.

@dantrice78 14 күн бұрын

Hell yeah! Mark Stewart/Pop Group! Best of the best, mate

@thomasbroadbent9518 16 күн бұрын

Got an ad in this video for a private investment fund. Thank you corporate overlords!

@SuperDoNotWant 17 күн бұрын

I don't see how it's legal for a company to incur debt to buy another company, and then transfer that debt over. The original purchasing company should have to keep the debt on their own books.

@kingcosworth2643 17 күн бұрын

These investment companies are who is running the country, they own the politicians and thus the lawmakers. There is a reason why all career politicians are worth tens of millions as a bare minimum. Biden is worth about $100mill and his salary for his career averages around $200k. The laws for procurement are written specifically for these investment firms to make money. It's no coincidence the police have essentially been shutdown in major city's and crime is out of control, the middle class are leaving in droves and the real estate is being bought up by these investment firms. It's nothing new, Rockefeller, Carnegie, JP Morgan and others 120years ago rigged the election to make sure Roosevelt became vice president as he was pushing for the anti monopoly laws. Vice President is powerless, what they didn't bank on was the President getting assassinated.

@benthiele 16 күн бұрын

That also blew me away. Seems like someone bribed someone to legalize that at some point

@kitchensinkmuses4947 15 күн бұрын

this is exactly what happened to Manchester United when Glazer bought them

@juliustodd1025 17 күн бұрын

Private Equity is the Doomsday Machine.

@010101110100 16 күн бұрын

I gotta admit, it’s a heck of a set of exploits. Milton Friedman is surely smiling up at us all from his hole in the 17th level of hell

@icemachine79 17 күн бұрын

Nice, the Pop Group! Perfect choice of song for the opener.

@Petch85 18 күн бұрын

Here we go again... The most depressing videos on the internet here to enjoy doing your weekend.😅

@catriona_drummond 17 күн бұрын

In Germany we call them Locusts.

@The1Green4Man 16 күн бұрын

I thought you called them Juden?

@chilldude30 17 күн бұрын

This was a hard hitter. Thanks Georg

@CrookedSkew 18 күн бұрын

Great way to spend my Friday evening, thanks Georg.

@NickFierro 18 күн бұрын

Thank you for your work. I hope eventually the many will open their eyes and drive the money corruption out of this country

@laffy4584 15 күн бұрын

Thank yall for the work you do. Enjoy the podcast as well. Thank you.

@Hoots_Maguire 17 күн бұрын

I still love the name Cerberus Management - they simply don't give a shit about hiding their evil nature, and proudly take a hell hound as their corporate identity.

@hanumaniam 12 күн бұрын

The lava lamp entices me once more

@jeremylawson6648 15 күн бұрын

this video put a sick feeling in my stomach.

@kitano47 18 күн бұрын

some of the best content on youtube

@ryanlund5303 15 күн бұрын

Keep up the good work big dog ❤

@nameblocked 10 күн бұрын

F I N A L L Y ‼️ Call them for what they are unlike the cuddly descriptions in the media and by politicians.

@DCM68W 18 күн бұрын

the bailout prediction was very grim and that's how I know you're right

@kingcosworth2643 17 күн бұрын

3:53 This scene gave me a Syndicate flashback. Good game that game

@mattgilbert7347 17 күн бұрын

The writer and Lacanian Fabio Vighi argues that the profit motive has become so dangerous it must be regarded as a kind of existential threat, and that financialised capital is engaged in de facto eugenics.

@justiniadonisi9290 16 күн бұрын

Yo. Im an Atlantan, though I live in “metro Atlanta.” I recently had to move, and was *very* fortunate to find a place owned by a family in the area that owns a lot of property that theyve purchased and improved over decades. Had I not luckily encountered this family, Im not sure what I would have done, because everything else in my area fits the description you provided.

@TheMurphman1989 18 күн бұрын

Loved the Ad.

@DJBritt 11 күн бұрын

Thanks for covering this

@flywheelshyster6549 18 күн бұрын

Algorithm comment. Georg on point per usage. Listening on the commute home, thanks

@TroubleToby3040 17 күн бұрын

Allison: I suppose you aren't going to do this as your WHOLE channel, but this is, by far, my favorite thing you do so... 👍👍👍

@razk8756 18 күн бұрын

Robotnik metal cover intro is fire 🔥 .... Also... Toilet-chef podcast!!!

@robertshonbrun8753 17 күн бұрын

I liked the Soylent Green opening theme playing in the background.

@TheAstroTaco13 17 күн бұрын

Decided to eat some lunch whilst watching. Felt sick to my stomach when we reached the segment about Nursing Homes and the Autism Support sector

@botulin1443 18 күн бұрын

one lava lamp turned the true detective aesthetic into fallout

@vash47 15 күн бұрын

we're stuck in the belly of this horrible machine, and the machine is bleeding to death

@capsjukebox 17 күн бұрын

PE is more like a car loan service that takes out loans on the value of your car to ‘fix’ it only to pay themselves for repairs they’re not doing and leaving your car on blocks in your yard. On fire.

@razzle8140 14 күн бұрын

Whoa, has this been the room the whole time??? This is what it looks like with the lights on? It's amazing how you got it so dark and well lit with the lava lamp and whatever else you used. Why the change? Why the lights on?

@GoDoYourOwnResearch 17 күн бұрын

Great topic. I just started a channel and my research into VCs is they doing the same. They openly admit it !

@cloudycolacorp 17 күн бұрын

Driving up rent to the point where everyone is destitute is like speedrunning getting subjected to cannibalism

@TheMushilau 16 күн бұрын

Eat the rich? Good lick getting past the PMCs, armed guards and actually getting to their luxurious highly protected private islands. Fuck you and fuck me, we are poor, back to the plantation.

@antonyjh1234 17 күн бұрын

Great topic.

@Iruparazzo 16 күн бұрын

goddam I miss Fresh n' Easy. The only place I've ever seen that would sell me a single-person's portion of food without charging me the same price as a 'family pack'

@southerndandy4910 16 күн бұрын

And they say crime doesn’t pay.

@JPlokford 17 күн бұрын

Cheered me right up that. Ta!

@omegaman4153 7 күн бұрын

Checkout the book titled -"Plunder"

@BUMPER_DUMP 14 күн бұрын

I am starting to believe Georg is sending us these cautionary recordings from 20 years into the future, safely from a cabin nestled in a sub-tropical Arctic zone.

@x--. 13 күн бұрын

I really don't know how we're going to escape this cycle of corruption. Is it impossible?

@krunkle5136 16 күн бұрын

Better trade policy is needed. Limit imports with tariffs. Instead of importing people, invest and train your people to create an export economy. Improve infrastructure to encourage local community and third places. Create a culture of loyalty and not selling out. Restrict companies from getting too big, going multinational, and being owned by absentees. All these things, they hate. These people only favor what maximum profit they could get with as little involvement as possible. Accountability isn't in their formula.

@noeldivad 17 күн бұрын

exceptional work georg! things have only gotten worse since 2008. i will never afford my own home.

@Hulkpoolza 17 күн бұрын

Man we are really in a worse gilded age

@adamgarrick8335 18 күн бұрын

Something doesn’t make sense though. How can private equity keep getting huge loans when they always end up bankrupting the companies they purchase? Surely the banks wouldn’t want to give loans to any businesses purchased by private equity because they would expect an eventual default?

@YFNA1978 17 күн бұрын

It's not that they don't pay back the loan.

@adamgarrick8335 17 күн бұрын

@@YFNA1978 Then who are they in debt to by the time they have to go bankrupt?

@YFNA1978 17 күн бұрын

@@adamgarrick8335 It isn't the private equity firm that goes bankrupt..

@Lilybun 17 күн бұрын

i thought those initial loans were covered by selling the land and assets of the company. what baffles me is how it's even possible to take a loan to purchase yourself on behalf of some other entity. its comical.

@GeorgRockallSchmidt 16 күн бұрын

@lilybun This. From what I can tell, when they go bankrupt one of the biggest debts is for long term rent agreements with the company they sold the land to. If they go bankrupt, that company still keeps the land and can rent it to someone else.

@noplace4akitty047 17 күн бұрын

I’m still waiting for my damn jar of HIPTANG

@jeffreywenger281 17 күн бұрын

This dosn't quite make sense to me. Who are the suckers providing all the loans to make this happen who cannot possibly get paid back after the company has been stripped. Why would anyone fund this sort of thing. And if they do get paid back at the expense of equity owners, who are all these boards of directors not doing their fiduciary duty to the firm? I'd like to know more details about how this works.

@orsonbradford3457 17 күн бұрын

My impression is that the creditors get paid, it’s just the business is gutted and destroyed in the process.

@Lilybun 17 күн бұрын

the company is stripped to pay off the loans it took to purchase itself for the equity firm. the equity firm and the creditors skim off the top and leave the company to sink.

@Mrspeedwell 17 күн бұрын

That's right, rinse and repeat for eternity, and they know it. I'm glad I worked it out around 30yrs ago and played my own game, tried to 'wake people up' but covid showed me that was all waste of time and energy. Enjoy what you can.

@kitchensinkmuses4947 15 күн бұрын

All this reminds me of the grapes of wrath, where one of the characters asks to the men who are seizing his home (to paraphrase) "who can I fight to keep my home, who can I kill." and they answer "it's the banks" and he says "who's in charge of them", and they answer "it's the inverstor companies" and he asks....

@richteffekt 17 күн бұрын

Thank you for reassuring us that the system is indeed working and we're well on track. Oh- o- oligarchy!

@171QA 17 күн бұрын

Great video.

@do00 15 күн бұрын

I maintain, finance and marketing are two amongst the most nefarious ailments that plague our society, and neither ever actually contributed anything to human advancement or well-being.