So Money with Farnoosh Torabi 1855: The Quiet Billion-Dollar Machine Behind Job Loss, Higher Rents, and Vanishing Services
Jul 21, 2025
Megan Greenwell, a veteran journalist and former editor-in-chief of Deadspin, dives deep into the shadowy world of private equity in her compelling book, Bad Company. She discusses how private equity firms have disrupted industries like healthcare and retail, sharing poignant stories from individuals like Liz, whose life changed drastically after the takeover of Toys R Us. The conversation highlights the devastating effects on job security, housing, and essential services, while emphasizing the resilience of communities fighting back against these forces.
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Deadspin's Troubling Acquisition Start
- On Deadspin's acquisition day, Megan sensed something was wrong when new management asked harsh, uninformed questions. - They immediately pushed to change successful content without business rationale, showing disregard for the site's health.
Private Equity Profit Focus
- Private equity firms make money through financial mechanisms rather than growing the acquired business. - They often strip companies of resources without caring if the business ultimately collapses.
Toys R Us Employee's Heartbreak
- Liz, a loyal Toys R Us employee, was unaware of the company's private equity ownership or looming debt. - She found out the chain was liquidating when a customer told her, long before internal communication arrived.
