This chapter explores the concept of private equity, its history, and how private equity firms operate. It discusses the problems associated with the private equity model, including short-term thinking, reliance on debt and fees, and insulation from legal liability. The chapter also examines the impact of private equity on businesses and people, highlighting both negative consequences and potential success stories.
The bookseller has gone from big-box villain to company on the brink of bankruptcy to bright spot in the mostly dismal retail space. The Verge’s Nilay Patel and author Brendan Ballou explain the unlikely story of its apparent turnaround.
This episode was produced by Isabel Angell, edited by Matt Collette, fact-checked by Laura Bullard, engineered by Patrick Boyd, and hosted by Noel King.
Transcript at vox.com/todayexplained
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