Taylor Lorenz’s Power User Private Equity Is Destroying America
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Jun 25, 2025 
Megan Greenwell, a journalist and author of 'Bad Company', sheds light on the pervasive influence of private equity on the American economy. She discusses how private equity firms, driven by profit, are dismantling healthcare, retail, and local news, leaving job security and essential services in jeopardy. Greenwell highlights the stark realities of corporate takeovers and the grassroots movements rising against them. Amidst the challenges, she also finds glimmers of hope and resilience in communities fighting back.
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Deadspin Private Equity Takeover
- Megan Greenwell's private equity interest began when her website Deadspin was bought by a private equity firm in 2019.
- The firm mismanaged Deadspin, driving her out within three months, sparking her investigation into private equity's impact.
Private Equity's Risk Shift
- Private equity buys companies mainly with outside investors' money combined with heavy loans in the company's name.
- The parent firm profits regardless, while the acquired firm bears loan risk, causing misaligned incentives.
Private Equity's Deep Influence
- Private equity firms are highly influential and embedded in powerful cultural institutions.
- This networking creates major hurdles to effective regulation against them.