Culture Study Podcast How Private Equity Destroys the Companies You Depend On
31 snips
Jun 18, 2025 
Megan Greenwell, a freelance journalist and former editor of Deadspin, sheds light on the complications of private equity in today's economy. She discusses how private equity acquisitions have hollowed out vital services, particularly in media and healthcare, leaving consumers facing deteriorating experiences. With insights from her book, 'Bad Company,' Megan reveals how companies like Toys R Us have been driven to ruin by debt-laden strategies and explores the chilling impact on industries like dental and veterinary care — fueling a necessary call for community-focused solutions.
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Deadspin's Private Equity Downfall
- Megan Greenwell experienced firsthand how private equity ownership destroyed Deadspin by prioritizing profit extraction over the site's success.
- The private equity firm demanded harmful editorial changes that tanked the business despite the team's pushback.
Private Equity's Conflict of Interest
- Private equity firms see companies as financial instruments to extract cash, not to grow sustainably.
- Selling off assets and charging rent to their portfolio companies creates a conflict where private equity profits while companies suffer.
Private Equity Rolls Up Small Practices
- Private equity loves buying up small veterinary or dental practices to consolidate them into larger chains.
- This contradicts the narrative of supporting small businesses, as it leads to roll-ups that prioritize profit.
