The Majority Report with Sam Seder

3581 - False Kirk Killer Narratives; Private Equity Killing the American Dream w/ Megan Greenwell

Sep 15, 2025
Guest
Megan Greenwell
Megan Greenwell, a journalist and author of *Bad Company: Private Equity and the Death of the American Dream*, delves into the damaging effects of private equity on American industries. She discusses how these firms prioritize profit, leading to job losses and the deterioration of essential services, particularly in healthcare and media. Greenwell also critiques the chaotic narratives surrounding political events, emphasizing the need for accountability in media portrayal. With vivid case studies, she highlights the urgent need for regulatory reform to protect communities from escalating inequality.
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INSIGHT

Profit Over Purpose

  • Private equity often acquires healthy niche businesses and quickly imposes extractive decisions.
  • Megan Greenwell says Deadspin was profitable yet gutted after acquisition, showing the model's indifference to mission.
ANECDOTE

Deadspin’s Rapid Collapse

  • Greenwell recounts being driven out of Deadspin within months of the buyout as management imposed hostile changes.
  • She and most colleagues left, illustrating rapid cultural and operational collapse after acquisition.
INSIGHT

Leverage Buyouts Shift Risk

  • Private equity uses leveraged buyouts to shift debt onto the acquired company while extracting cash.
  • Toys R Us was buried in $5 billion of debt and its owners profited while employees lost promised severance.
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