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Private Equity: See the Game, Change the Game - Full Interview Join us on Telegram: "Private Equity: See the Game, Change the Game with Tiffany Cianci" In November 2024, entrepreneur and former franchisee Tiffany Cianci (Tiffany Cianci) was a Solari Hero of the Week for her valiant pushback against...

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The Solari Report | Catherine Austin Fitts

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We Have Had a Negative-Return-on-Investment Economy for 30 Years "Lunacy Threatens 401(k) and Index Fund Regulation with Tiffany Cianci" Tiffany Cianci The digital control grid has an unending appetite for your capital. Building the systems that enable surveillance, biometric digital IDs, and programmable money—and the data centers and AI that hold and process the data needed to make these systems go—takes trillions of dollars. Every time we turn around, there is another attempt to siphon off our savings, not only to finance the control grid’s build-out but to help buy up and consolidate ownership and control of our businesses. In short, Mr. Global is pursuing his goals with our money—our tax dollars, our federal credit, and our retirement savings. Returning guest Tiffany Cianci (Tiffany Cianci) has a passion for tracking the manipulation of our savings. She has been a leader in warning the public about the shenanigans of the private equity industry, as described in our prior interviews about private equity and private credit. Now she is sounding the alarm about the efforts—well underway—to compromise the governance of our 401(k)s in a manner that could lead to inappropriate access by alternative investments, including crypto, private equity, and hedge funds. If you or your loved ones have retirement savings, you will not want to miss this conversation, as Tiffany and I discuss what is happening with 401(k)s and consider some of the other meltdowns in our financial regulation and standards. Full Report: Subscribe to
0:59

We Have Had a Negative-Return-on-Investment Economy for 30 Years "Lunacy Threatens 401(k) and Index Fund Regulation with Tiffany Cianci" Tiffany Cianci The digital control grid has an unending appetite for your capital. Building the systems that enable surveillance, biometric digital IDs, and programmable money—and the data centers and AI that hold and process the data needed to make these systems go—takes trillions of dollars. Every time we turn around, there is another attempt to siphon off our savings, not only to finance the control grid’s build-out but to help buy up and consolidate ownership and control of our businesses. In short, Mr. Global is pursuing his goals with our money—our tax dollars, our federal credit, and our retirement savings. Returning guest Tiffany Cianci (Tiffany Cianci) has a passion for tracking the manipulation of our savings. She has been a leader in warning the public about the shenanigans of the private equity industry, as described in our prior interviews about private equity and private credit. Now she is sounding the alarm about the efforts—well underway—to compromise the governance of our 401(k)s in a manner that could lead to inappropriate access by alternative investments, including crypto, private equity, and hedge funds. If you or your loved ones have retirement savings, you will not want to miss this conversation, as Tiffany and I discuss what is happening with 401(k)s and consider some of the other meltdowns in our financial regulation and standards. Full Report: Subscribe to

The Solari Report | Catherine Austin Fitts

15,192 views • 2 months ago

🚨🚨PRIVATE EQUITY BAILOUT WITH YOUR 401K 🚨🚨 The Federal Government just gave Private Equity the blessing to access 14 Trillion in 401K. Just when the Private Equity Market is a full blown meltdown. "As of early 2026, private equity (PE) firms have gained significantly increased access to 401(k) plans following regulatory changes and executive actions. The Department of Labor has facilitated the inclusion of alternative assets—including private equity, real estate, and crypto—into retirement accounts, ending years of restrictions." WE THE PEOPLE ALWAYS PAY FOR THEIR MISTAKES
4:49

🚨🚨PRIVATE EQUITY BAILOUT WITH YOUR 401K 🚨🚨 The Federal Government just gave Private Equity the blessing to access 14 Trillion in 401K. Just when the Private Equity Market is a full blown meltdown. "As of early 2026, private equity (PE) firms have gained significantly increased access to 401(k) plans following regulatory changes and executive actions. The Department of Labor has facilitated the inclusion of alternative assets—including private equity, real estate, and crypto—into retirement accounts, ending years of restrictions." WE THE PEOPLE ALWAYS PAY FOR THEIR MISTAKES

Stephanie 🇬🇧🇺🇸🦍

51,802 views • 5 months ago

The reason it cost to much to take your pet to the vet is because private equity firms are buying up the pet industry and skyrocketing prices - Private equity firms poured $51.6 billion into the veterinary sector from 2017-2023 - Another $10+ billion in 2024 - Private equity firms spent $9.3 billion in the first 4 months on that year alone buying vet clinics - Industry leaders found that people will go into debt to keep their pets healthy, so the field is viewed as low risk and high reward 2025 private equity firms ownership of our American veterinary clinics estimates - 45% of all general practices will be owned by private equity firms - 80% of all Specialty/Emergency Practices will be owned by private equity firms “We are to the point in this country where cost and inflation is so high, I am seriously considering veterinary care tourism” “It is gonna cost about $1,500 to $1,800 to get this thing's (her dogs) teeth cleaned in Chicago, and his teeth aren't even bad”
0:48

The reason it cost to much to take your pet to the vet is because private equity firms are buying up the pet industry and skyrocketing prices - Private equity firms poured $51.6 billion into the veterinary sector from 2017-2023 - Another $10+ billion in 2024 - Private equity firms spent $9.3 billion in the first 4 months on that year alone buying vet clinics - Industry leaders found that people will go into debt to keep their pets healthy, so the field is viewed as low risk and high reward 2025 private equity firms ownership of our American veterinary clinics estimates - 45% of all general practices will be owned by private equity firms - 80% of all Specialty/Emergency Practices will be owned by private equity firms “We are to the point in this country where cost and inflation is so high, I am seriously considering veterinary care tourism” “It is gonna cost about $1,500 to $1,800 to get this thing's (her dogs) teeth cleaned in Chicago, and his teeth aren't even bad”

Wall Street Apes

62,873 views • 9 months ago

My 1st non-Southwest Airlines domestic flight in almost 7 years thanks to the Private Equity monsters that are destroying the brand. I’m so sick of Private Equity destroying everything: but we get to decide if we take our business away! Four other people in line with me were on their first non-Southwest flight in years & one had just canceled her Southwest credit card and opened an United Airlines card. Activist investment group, Elliott management has infiltrated @Southwest Airlines and the greed that they are exhibiting is going to cost Southwest everything! We have the power to fight back against private equity when we can and we should!
1:07

My 1st non-Southwest Airlines domestic flight in almost 7 years thanks to the Private Equity monsters that are destroying the brand. I’m so sick of Private Equity destroying everything: but we get to decide if we take our business away! Four other people in line with me were on their first non-Southwest flight in years & one had just canceled her Southwest credit card and opened an United Airlines card. Activist investment group, Elliott management has infiltrated @Southwest Airlines and the greed that they are exhibiting is going to cost Southwest everything! We have the power to fight back against private equity when we can and we should!

Tiffany Cianci

15,462 views • 1 year ago

Ash Sarkar on #PoliticsLive "The role of private equity in our social care system" Ash Sarkar 👏 "We've got a hugely expensive social care system. Adult and children social care is a massive part of local authority budget" "It's part of the reason why so many local councils are in debt" "And private equity is just siphoning money out of the system" "In just three years, in three regions of England, private equity sucked out £250 million in profit" "Something that Andy Burnham and whoever his pick of chancellor might be, is to say, we're not going to have such a huge role for private equity in the social care system" "We're going to have strong limits on how much profit can be extracted" "We're not going to have leveraged buyouts where private equity uses a tiny bit of their own money and then loads the company with debt"
0:47

Ash Sarkar on #PoliticsLive "The role of private equity in our social care system" Ash Sarkar 👏 "We've got a hugely expensive social care system. Adult and children social care is a massive part of local authority budget" "It's part of the reason why so many local councils are in debt" "And private equity is just siphoning money out of the system" "In just three years, in three regions of England, private equity sucked out £250 million in profit" "Something that Andy Burnham and whoever his pick of chancellor might be, is to say, we're not going to have such a huge role for private equity in the social care system" "We're going to have strong limits on how much profit can be extracted" "We're not going to have leveraged buyouts where private equity uses a tiny bit of their own money and then loads the company with debt"

Farrukh

79,693 views • 2 months ago

Private Equity Firms have found a new target in America, Hospitals 460+ American hospitals are now owned by private equity firms Just in the last few years, they’ve already managed to load an estimated 50 hospitals up with debt, forcing their bankruptcies and closures One private equity firm bought a hospital in Pennsylvania, “ Just two years after buying Crozier Health, Prospect took out a $1.1 billion loan and then sent nearly half of it straight to their investors while Crozier continued to suffer. It's fundamentally extractive, even among private equity industry folks. It's a controversial way to generate a return on an investment because it adds absolutely no value to the company in question” Private equity firms often use leveraged buyouts, loading acquired hospitals with debt to finance purchases. This debt, combined with strategies like sale-leaseback deals (selling hospital real estate and leasing it back to the hospital at high rents), can strain hospital finances Here’s another example of that: Steward Health Care, previously owned by Cerberus Capital Management, sold its real estate to Medical Properties Trust (MPT), incurring $350–400 million in annual rent, contributing to its 2024 bankruptcy - The hospitals own the land - Private equity buys the land and sells it to their own company - They then leases the land back to the hospital at hundreds of millions of dollars per month - They take out massive loans and pay their private equity executives hundreds of millions of dollars each The hospital goes bankrupt and closes Last month, a woman arrived at a Pennsylvania hospital with her barely breathing baby, only to discover the hospital had closed. Why? The hospital’s owner diverted millions to private equity investors instead of investing in healthcare. Now, patients and workers are paying the price.
10:18

Private Equity Firms have found a new target in America, Hospitals 460+ American hospitals are now owned by private equity firms Just in the last few years, they’ve already managed to load an estimated 50 hospitals up with debt, forcing their bankruptcies and closures One private equity firm bought a hospital in Pennsylvania, “ Just two years after buying Crozier Health, Prospect took out a $1.1 billion loan and then sent nearly half of it straight to their investors while Crozier continued to suffer. It's fundamentally extractive, even among private equity industry folks. It's a controversial way to generate a return on an investment because it adds absolutely no value to the company in question” Private equity firms often use leveraged buyouts, loading acquired hospitals with debt to finance purchases. This debt, combined with strategies like sale-leaseback deals (selling hospital real estate and leasing it back to the hospital at high rents), can strain hospital finances Here’s another example of that: Steward Health Care, previously owned by Cerberus Capital Management, sold its real estate to Medical Properties Trust (MPT), incurring $350–400 million in annual rent, contributing to its 2024 bankruptcy - The hospitals own the land - Private equity buys the land and sells it to their own company - They then leases the land back to the hospital at hundreds of millions of dollars per month - They take out massive loans and pay their private equity executives hundreds of millions of dollars each The hospital goes bankrupt and closes Last month, a woman arrived at a Pennsylvania hospital with her barely breathing baby, only to discover the hospital had closed. Why? The hospital’s owner diverted millions to private equity investors instead of investing in healthcare. Now, patients and workers are paying the price.

Wall Street Apes

247,836 views • 1 year ago

The University of Utah is about to sign a first of its kind equity deal with a New York private equity firm called Otra Capital… and this is not good. This new deal will create an enitre new business that oversees everything Utah athletics, and will be controlled by the
2:02

The University of Utah is about to sign a first of its kind equity deal with a New York private equity firm called Otra Capital… and this is not good. This new deal will create an enitre new business that oversees everything Utah athletics, and will be controlled by the

Ev Hand

1,064,006 views • 8 months ago

Our government has to stop private equity firms. They are destroying our lives in America Soon you won’t even be able to own a pet “How many veterinary practices are owned by private equity firms now?” “A third, to a half — Private equity firms target the owners of small, independent “mom and pop” practices. They’re doing the same thing with dentists, HVAC companies, and basically every type of small business across America, buying up large numbers of them. Once they consolidate these practices, they typically raise prices” “Does the quality of care improve as a result?” “No, the care usually gets worse.” This is why vet care has gotten so much more expensive
0:27

Our government has to stop private equity firms. They are destroying our lives in America Soon you won’t even be able to own a pet “How many veterinary practices are owned by private equity firms now?” “A third, to a half — Private equity firms target the owners of small, independent “mom and pop” practices. They’re doing the same thing with dentists, HVAC companies, and basically every type of small business across America, buying up large numbers of them. Once they consolidate these practices, they typically raise prices” “Does the quality of care improve as a result?” “No, the care usually gets worse.” This is why vet care has gotten so much more expensive

Wall Street Apes

111,334 views • 8 months ago

Private Home Ownership Is At EXTREME RISK In America New Reports Show Economists Have Been Lying To All Of Us About The Rate Financial Firms Have Been Buying Up Single Family Homes They said only 18-23% of homes were being purchased & by 2030 they would own 60% That was a lie, in 2023, private equity firms purchased 44% of all of the single family homes in America, which means death for our middle class Estimates for 2024 private equity firms are again predicted to purchase another 44% of single family homes. “Now America has a lot of problems, but this should be a unifying problem that every single person who is not part of one of those private equity firms cares about, including current homeowners.” “Private equity firms have been buying up all the single family homes. So up until very recently, we didn't actually have the numbers to say just how many homes they've been buying up. And most politicians across the f***** board, Democrat, Republican, whatever, have been saying, well, they're really only buying, like, 18% of single family homes. And then economists chimed in and said that if private equity firms are buying up anywhere from 18 to 20 to 23% of single family homes in this country. That by 2030, they would own 60% of all of the homes in America. Well, we just got the final numbers. Um, in 2023, private equity firms purchased 44% of all of the single family homes in America, which means death for our middle class. Our generation will not be homeowners. They will have us permanently renting from, like, 2 or 3 companies. Now America has a lot of problems, but this should be a unifying problem that every single person who is not part of one of those private equity firms cares about, including current homeowners. They bought 44% of all of the single family homes in America last year, and they are set up to purchase an even higher percentage of them this year. Unless we have major reform, almost all of the single family homes in this country will be owned by these private equity firms in a very, very short amount of time.”
2:04

Private Home Ownership Is At EXTREME RISK In America New Reports Show Economists Have Been Lying To All Of Us About The Rate Financial Firms Have Been Buying Up Single Family Homes They said only 18-23% of homes were being purchased & by 2030 they would own 60% That was a lie, in 2023, private equity firms purchased 44% of all of the single family homes in America, which means death for our middle class Estimates for 2024 private equity firms are again predicted to purchase another 44% of single family homes. “Now America has a lot of problems, but this should be a unifying problem that every single person who is not part of one of those private equity firms cares about, including current homeowners.” “Private equity firms have been buying up all the single family homes. So up until very recently, we didn't actually have the numbers to say just how many homes they've been buying up. And most politicians across the f***** board, Democrat, Republican, whatever, have been saying, well, they're really only buying, like, 18% of single family homes. And then economists chimed in and said that if private equity firms are buying up anywhere from 18 to 20 to 23% of single family homes in this country. That by 2030, they would own 60% of all of the homes in America. Well, we just got the final numbers. Um, in 2023, private equity firms purchased 44% of all of the single family homes in America, which means death for our middle class. Our generation will not be homeowners. They will have us permanently renting from, like, 2 or 3 companies. Now America has a lot of problems, but this should be a unifying problem that every single person who is not part of one of those private equity firms cares about, including current homeowners. They bought 44% of all of the single family homes in America last year, and they are set up to purchase an even higher percentage of them this year. Unless we have major reform, almost all of the single family homes in this country will be owned by these private equity firms in a very, very short amount of time.”

Wall Street Apes

1,652,543 views • 2 years ago

IT’S TRUE 🚨 Proof the reason veterinarian bills for your pets have skyrocketed recently is because Private Equity Firms have been buying up all the veterinarian clinics throughout America and then raising prices “Massive corporations and private equity firms have been taking over vet care at an alarming rate, owning up to 50% of clinics and up to 75% of emergency hospitals. They're also snapping up pet insurance companies and even pet food brands.” “If you're a pet owner, you've probably been noticing that your vet bills have become more and more and more expensive over the years. But it's even worse than you might think. The cost of vet care has gone up by 60%” “The veterinary industry is a f***ing racket. Animal health care is a f***ing scam. When I started looking into it, I found endless complaints of vet bills through the roof, unexpected charges, and people feeling like they had no choice but to pay up. Veterinary medicine is the gold rush of 2024. I call it the rise of Big Vets. These massive private equity firms are buying up veterinary clinics in the hundreds all across the United States. We talked to veterinarians and journalists to find out exactly why your vet bill has gotten so high” “As private equity firms buy up even more clinics and expand into other pet services. Just last year, private equity company Blackstone purchased Rover. It's an online pet sitting and dog walking company. And Jap Consumer Partners is buying up pet insurance.” All the evidence is in this video, prices are expected to keep rising as private equity firms take over what’s left of the vet care industry This MUST be stopped. Why is American Government allowing private equity firms to buy everything and DESTROY Americans way of life by skyrocketing prices ‘Private Equity's Ruthless Pet Care Scheme’ - More Perfect Union
16:01

IT’S TRUE 🚨 Proof the reason veterinarian bills for your pets have skyrocketed recently is because Private Equity Firms have been buying up all the veterinarian clinics throughout America and then raising prices “Massive corporations and private equity firms have been taking over vet care at an alarming rate, owning up to 50% of clinics and up to 75% of emergency hospitals. They're also snapping up pet insurance companies and even pet food brands.” “If you're a pet owner, you've probably been noticing that your vet bills have become more and more and more expensive over the years. But it's even worse than you might think. The cost of vet care has gone up by 60%” “The veterinary industry is a f***ing racket. Animal health care is a f***ing scam. When I started looking into it, I found endless complaints of vet bills through the roof, unexpected charges, and people feeling like they had no choice but to pay up. Veterinary medicine is the gold rush of 2024. I call it the rise of Big Vets. These massive private equity firms are buying up veterinary clinics in the hundreds all across the United States. We talked to veterinarians and journalists to find out exactly why your vet bill has gotten so high” “As private equity firms buy up even more clinics and expand into other pet services. Just last year, private equity company Blackstone purchased Rover. It's an online pet sitting and dog walking company. And Jap Consumer Partners is buying up pet insurance.” All the evidence is in this video, prices are expected to keep rising as private equity firms take over what’s left of the vet care industry This MUST be stopped. Why is American Government allowing private equity firms to buy everything and DESTROY Americans way of life by skyrocketing prices ‘Private Equity's Ruthless Pet Care Scheme’ - More Perfect Union

Wall Street Apes

425,352 views • 1 year ago

Tiffany Cianci opened with a gut punch. Private equity firms are drowning in their own reckless debt—and they’re “begging Donald Trump to help them.” The crisis centers on a looming executive order that could hand Wall Street unprecedented access to your retirement savings. After loading companies with adjustable-rate debt, private equity giants are now sitting on $3 trillion in toxic assets no one will touch—not Harvard, not Yale, not even the big pension funds. Desperate for a lifeline, they’ve turned to the President. But this bailout won’t come from the government. It’ll come from your 401(k). “He’s announced that he’s preparing to issue an executive order that would make it impossible for 401k holders to sue their investment managers if they recklessly invest their money with private equity,” Tiffany said. In other words, your fund manager could gamble away your life savings, and you would have no legal recourse. “They are getting access to $12 trillion of 401k money,” Tiffany warned. This is your money. Your future. And if this order goes through, it could be gone before you ever get to see it.
2:35

Tiffany Cianci opened with a gut punch. Private equity firms are drowning in their own reckless debt—and they’re “begging Donald Trump to help them.” The crisis centers on a looming executive order that could hand Wall Street unprecedented access to your retirement savings. After loading companies with adjustable-rate debt, private equity giants are now sitting on $3 trillion in toxic assets no one will touch—not Harvard, not Yale, not even the big pension funds. Desperate for a lifeline, they’ve turned to the President. But this bailout won’t come from the government. It’ll come from your 401(k). “He’s announced that he’s preparing to issue an executive order that would make it impossible for 401k holders to sue their investment managers if they recklessly invest their money with private equity,” Tiffany said. In other words, your fund manager could gamble away your life savings, and you would have no legal recourse. “They are getting access to $12 trillion of 401k money,” Tiffany warned. This is your money. Your future. And if this order goes through, it could be gone before you ever get to see it.

The Vigilant Fox 🦊

46,527 views • 1 year ago

New data shows the cost to go to a bowling alley is becoming so unaffordable, it’s out of reach for many American families Private Equity Firms have started buying up bowling alleys and skyrocketing prices A company called Lucky Strike funded by private equity has been on a buying spree and now owns more than 1 in 10 bowling centers nationwide “In a growing number of cities, it can cost more than $150 for a family to bowl for a couple hours on a weekend, which led me to Wichita, Kansas, where locals take their bowling seriously. The city back in 2022 had 4 locally owned bowling centers, Then a Wall Street corporation came to town Lucky Strike. The company, fueled by private equity investments, bought 3 of the 4 bowling centers from the family that had owned them for years and has controlled the majority of lanes in the city ever since.l — The whole thing just feels like a microcosm of the modern American concept of corporate entities buy everything, they take over” Just since 2016 the cost to go bowling has doubled and some reports show it’s more than doubled Private Equity Companies like Bowlero and Lucky Strike now 350+ locations and use data-driven pricing and have reduced traditional leagues in favor of higher-margin entertainment Private equity firms are a literal cancer in America. They destroy every single thing they touch and ruin our way of life These private equity bowling alleys are even using dynamic pricing.. this is insane
2:14

New data shows the cost to go to a bowling alley is becoming so unaffordable, it’s out of reach for many American families Private Equity Firms have started buying up bowling alleys and skyrocketing prices A company called Lucky Strike funded by private equity has been on a buying spree and now owns more than 1 in 10 bowling centers nationwide “In a growing number of cities, it can cost more than $150 for a family to bowl for a couple hours on a weekend, which led me to Wichita, Kansas, where locals take their bowling seriously. The city back in 2022 had 4 locally owned bowling centers, Then a Wall Street corporation came to town Lucky Strike. The company, fueled by private equity investments, bought 3 of the 4 bowling centers from the family that had owned them for years and has controlled the majority of lanes in the city ever since.l — The whole thing just feels like a microcosm of the modern American concept of corporate entities buy everything, they take over” Just since 2016 the cost to go bowling has doubled and some reports show it’s more than doubled Private Equity Companies like Bowlero and Lucky Strike now 350+ locations and use data-driven pricing and have reduced traditional leagues in favor of higher-margin entertainment Private equity firms are a literal cancer in America. They destroy every single thing they touch and ruin our way of life These private equity bowling alleys are even using dynamic pricing.. this is insane

Wall Street Apes

304,319 views • 1 month ago

"It's basically what we call the Blackstone model, which is, you don't take over the whole company right, you buy the largest stake in it and you use that to control it. And so that's the model starting with the US, but basically every country in the world is being subject to this. And so they have planted through these small focus groups of private intelligence, and it's a combination of private intelligence, private equity, and IT firms, and they're basically coming together as one. And they set up their teams in each country to basically take it over strategically. There's a playbook for this..." Emanuel Pastreich of 🥷 🔗
8:37

"It's basically what we call the Blackstone model, which is, you don't take over the whole company right, you buy the largest stake in it and you use that to control it. And so that's the model starting with the US, but basically every country in the world is being subject to this. And so they have planted through these small focus groups of private intelligence, and it's a combination of private intelligence, private equity, and IT firms, and they're basically coming together as one. And they set up their teams in each country to basically take it over strategically. There's a playbook for this..." Emanuel Pastreich of 🥷 🔗

Geopolitics & Empire

18,051 views • 5 months ago

Pet ownership is becoming less obtainable because the cost of caring for your animal This man took his dog to the vet for an ear issue. Just got a basic ear issue it was $725 and then an additional $425 just to clean tarter from his teeth This is because of private equity firms, they’ve been secretly buying up and taking over the pet care industry and skyrocketing prices - 45% of general veterinary practices in the US are owned by private equity firms or corporate consolidators. - 80% of specialty and emergency veterinary practices are under private equity/corporate ownership If this continues soon Americans won’t even be able to afford to have a dog or cat anymore
1:55

Pet ownership is becoming less obtainable because the cost of caring for your animal This man took his dog to the vet for an ear issue. Just got a basic ear issue it was $725 and then an additional $425 just to clean tarter from his teeth This is because of private equity firms, they’ve been secretly buying up and taking over the pet care industry and skyrocketing prices - 45% of general veterinary practices in the US are owned by private equity firms or corporate consolidators. - 80% of specialty and emergency veterinary practices are under private equity/corporate ownership If this continues soon Americans won’t even be able to afford to have a dog or cat anymore

Wall Street Apes

487,224 views • 2 months ago

Chamath: “Private equity in general is totally hosed.” 🏢🚨 “I think the history of this is important.” “There was a long standing belief that the best way to generate the best risk adjusted return was to have what's called a 60/40 allocation. 60% to bonds and 40% to equities.” “Over many years, especially when we artificially suppressed rates at zero, a lot of people started to move their allocations away from 60/40 and they started to make more and more investments further out on the risk curve.” “The biggest beneficiaries of that were venture capital, private equity, and hedge funds.” “The thing with private equity is that because rates were zero, they had an infinite amount of borrowing capacity at very little downside to them, and so they were able to manufacture returns much faster than venture capital and hedge funds could.” “So as a result, you had an initial group of people that were defining the asset class, making a ton of money, and then you had all these fast followers that said, ‘Well, if they're doing it, I can do it too.’” “But then always what happens is then you have this flood of laggards that just flood the zone.” “And it's these laggards that make it very difficult to generate returns because they start overpaying for assets, they start mismanaging and under managing the assets that they do own.” “That created a lot of competition, and so that's why you see this hockey stick graph.” “And when you see that kind of graph, it doesn't matter what asset class it is. The returns go to zero.” “And so we've seen this in venture capital. We've seen this in hedge funds. And we're now going to see this in private equity.”
1:36

Chamath: “Private equity in general is totally hosed.” 🏢🚨 “I think the history of this is important.” “There was a long standing belief that the best way to generate the best risk adjusted return was to have what's called a 60/40 allocation. 60% to bonds and 40% to equities.” “Over many years, especially when we artificially suppressed rates at zero, a lot of people started to move their allocations away from 60/40 and they started to make more and more investments further out on the risk curve.” “The biggest beneficiaries of that were venture capital, private equity, and hedge funds.” “The thing with private equity is that because rates were zero, they had an infinite amount of borrowing capacity at very little downside to them, and so they were able to manufacture returns much faster than venture capital and hedge funds could.” “So as a result, you had an initial group of people that were defining the asset class, making a ton of money, and then you had all these fast followers that said, ‘Well, if they're doing it, I can do it too.’” “But then always what happens is then you have this flood of laggards that just flood the zone.” “And it's these laggards that make it very difficult to generate returns because they start overpaying for assets, they start mismanaging and under managing the assets that they do own.” “That created a lot of competition, and so that's why you see this hockey stick graph.” “And when you see that kind of graph, it doesn't matter what asset class it is. The returns go to zero.” “And so we've seen this in venture capital. We've seen this in hedge funds. And we're now going to see this in private equity.”

The All-In Podcast

800,205 views • 11 months ago

We talked with Alex Jacobson (Co-Founder & Managing Partner) about the evolving private markets. "SpaceX gives employees equity and runs tenders regularly so that equity becomes liquidity. Although the liquidity price is lower than public market value, employees know their equity will grow because SpaceX keeps expanding. "The strategy is to give employees certainty that the equity they've been issued will be worth a lot more in the future. That is harder to do in the public markets because everything is perfectly priced. In private markets, if you run your process properly, you can have this very deterministic outcome for your employees."
2:20

We talked with Alex Jacobson (Co-Founder & Managing Partner) about the evolving private markets. "SpaceX gives employees equity and runs tenders regularly so that equity becomes liquidity. Although the liquidity price is lower than public market value, employees know their equity will grow because SpaceX keeps expanding. "The strategy is to give employees certainty that the equity they've been issued will be worth a lot more in the future. That is harder to do in the public markets because everything is perfectly priced. In private markets, if you run your process properly, you can have this very deterministic outcome for your employees."

TBPN

11,490 views • 1 year ago

We REFUSE to be a generation of renters. We refuse to accept a future where billionaire private equity firms like Blackstone come into our communities, buy up entire neighborhoods, take homes off the market, and put them back up for rent. That is not the American dream. It’s not the American dream to let companies, backed with overseas capital from China and using tax cheats, buy homes out from under us and turn America into a nation of renters. The American dream is impossible unless you own the dirt under your feet—unless you own a piece of the community you help build. Yet when Blackstone comes in, they won’t sell to you; they’ll only rent to you. When my parents bought their first home in 1996, there were two other families bidding. They bought that home for $104,000. They weren’t bidding against private equity firms with balance sheets in the hundreds of billions that can outbid every single one of us. It’s already hard enough to get a mortgage with today’s interest rates (cc: Jerome Powell) And when you finally do—after saving, working, and doing everything right—a private equity firm swoops in and prices you out of the home you earned. That is unacceptable. Thanks to the Tenth Amendment and our federalist system, the power to fix this lies with our state governments. Here in Florida and across the country, governors must act—must make it illegal for giant private equity firms like Blackstone to buy up our neighborhoods and turn us into a generation of renters. We refuse to accept that fate. We refuse to become serfs in our own country. We will fight back.
2:12

We REFUSE to be a generation of renters. We refuse to accept a future where billionaire private equity firms like Blackstone come into our communities, buy up entire neighborhoods, take homes off the market, and put them back up for rent. That is not the American dream. It’s not the American dream to let companies, backed with overseas capital from China and using tax cheats, buy homes out from under us and turn America into a nation of renters. The American dream is impossible unless you own the dirt under your feet—unless you own a piece of the community you help build. Yet when Blackstone comes in, they won’t sell to you; they’ll only rent to you. When my parents bought their first home in 1996, there were two other families bidding. They bought that home for $104,000. They weren’t bidding against private equity firms with balance sheets in the hundreds of billions that can outbid every single one of us. It’s already hard enough to get a mortgage with today’s interest rates (cc: Jerome Powell) And when you finally do—after saving, working, and doing everything right—a private equity firm swoops in and prices you out of the home you earned. That is unacceptable. Thanks to the Tenth Amendment and our federalist system, the power to fix this lies with our state governments. Here in Florida and across the country, governors must act—must make it illegal for giant private equity firms like Blackstone to buy up our neighborhoods and turn us into a generation of renters. We refuse to accept that fate. We refuse to become serfs in our own country. We will fight back.

James Fishback

48,534 views • 10 months ago

Private Equity Firms are DESTROYING American Businesses they same way they bankrupted Toys "R" Us and put them out of business Here’s how they did it - After signing for Toys "R" Us, they sold all of the land under every store they own in the United States - Private Equity sold it to their sister firms that they also own, their real estate investment trust - They sell the land to themselves for cheap and then lease the land back to Toys”R”Us for expensive rates - So now Toys”R”Us has a lease they didn't have when they were still successful - So next private equity went to look at all Toys”R”Us’ warehouses where they have backstock that carries them over in economic downturn. They began to sell that to a liquidator, all of the extra stock - Next private equity sold all the Toys”R”Us’ warehouses, to their own real estate investment firms - Private equity now leases back all of the infrastructure Toys”R”Us had built over the last 100 years to become the successful powerhouse it was “They decimated Toys”R”Us in literally 2 years. At the end of this, Toys”R”Us can no longer make their payments to the bank, so they're going to have to file bankruptcy. And then what's going to happen is all of the assets that Toys R Us had left, which is largely only the intellectual property at this point, we're going to have a fire sale. And you know who's going to buy it for pennies on the dollar? One of our sister private equity firms. And they're going to get the intellectual property, then we're going to sell that to Macy's to use, and then we're going to go buy Macy's and we're going to start over again.” This happens to business after business in America and it must be stopped.
1:03

Private Equity Firms are DESTROYING American Businesses they same way they bankrupted Toys "R" Us and put them out of business Here’s how they did it - After signing for Toys "R" Us, they sold all of the land under every store they own in the United States - Private Equity sold it to their sister firms that they also own, their real estate investment trust - They sell the land to themselves for cheap and then lease the land back to Toys”R”Us for expensive rates - So now Toys”R”Us has a lease they didn't have when they were still successful - So next private equity went to look at all Toys”R”Us’ warehouses where they have backstock that carries them over in economic downturn. They began to sell that to a liquidator, all of the extra stock - Next private equity sold all the Toys”R”Us’ warehouses, to their own real estate investment firms - Private equity now leases back all of the infrastructure Toys”R”Us had built over the last 100 years to become the successful powerhouse it was “They decimated Toys”R”Us in literally 2 years. At the end of this, Toys”R”Us can no longer make their payments to the bank, so they're going to have to file bankruptcy. And then what's going to happen is all of the assets that Toys R Us had left, which is largely only the intellectual property at this point, we're going to have a fire sale. And you know who's going to buy it for pennies on the dollar? One of our sister private equity firms. And they're going to get the intellectual property, then we're going to sell that to Macy's to use, and then we're going to go buy Macy's and we're going to start over again.” This happens to business after business in America and it must be stopped.

Wall Street Apes

1,196,462 views • 1 year ago

The popular Tapatio Hot Sauce brand has been purchased by a private equity firm The family had never write the recipe down, it was always mixed in private by only people who knew it by memory The recipe had to be written down and given to the private equity firm so they could expand distribution out of California The Saavedra family had run the company for over 50 years out of Los Angeles The new private equity firm owned say there is a stronger demand for hotter hot sauces throughout America because of drugs like Ozempic GLP-1 weight-loss drugs apparently is caused people to crave more spice and taste in their meals “As users of Ozempic and other weight loss drugs demand more flavor than they used to”
1:25

The popular Tapatio Hot Sauce brand has been purchased by a private equity firm The family had never write the recipe down, it was always mixed in private by only people who knew it by memory The recipe had to be written down and given to the private equity firm so they could expand distribution out of California The Saavedra family had run the company for over 50 years out of Los Angeles The new private equity firm owned say there is a stronger demand for hotter hot sauces throughout America because of drugs like Ozempic GLP-1 weight-loss drugs apparently is caused people to crave more spice and taste in their meals “As users of Ozempic and other weight loss drugs demand more flavor than they used to”

Wall Street Apes

642,315 views • 4 months ago