Trying2beVegan

Saw this on some financial times or other random sites reading list at the beginning of the year.

Not something I would usually just start listening to but thought I would give it a go. It was definitely an interesting listen. The book explores the way Private equity firms buy up companies tend to strip them of their worth and then let them run into the ground with little regard for staff or customers of organizations they buy.

I will say the book makes some good points and showcases how repeatedly this phenomenon appears. It does however use very emotive anecdotes to get its points across. I think its any interesting explanation and puts into context some worrying trends I have seen in my own career when large organizations buy out/ takeover firms and the quality of service firms provide declines but this seems irrelevant in this day and age as long as the books balance. A recent example could be the pharmacy sector in the UK ran by a small number of large companies that have found the profitable aspects of pharmacy and ditched the less so aka multiple pharmacies that patients can access easily are closing. *I will however admit this may just be me framing this from my limited understanding.

It is also interesting that the financial times has published an article with calls for private equity firms to share more of its profits with workers https://www.ft.com/content/d3770b32-e3b1-4ca8-bb96-69cbc4ff4110, could this be a turning point in the accumulation of wealth? The so called trickle down effect in action? Hmm, I thought that happened naturally though? haha.

Have you read or listened? Let me know what you thought in the comments?