Megan Greenwell, author, "Bad Company: Private Equity and the Death of the American Dream": Techtonic with Mark Hurst
2025-09-30·via Techtonic with Mark Hurst | WFMU
Listener comments!
5:53pm
:
Longtime listener, love the show. I have a question: you keep saying get off of Gougle at the end of every show. I wish to do that. But how can I do that on my S24 Cellular device? This thing even updated without my permission. Thanks again and keep the show going!
6:04pm
wimpy:
echoing hugo, if anyone has a good alternative to gmail, please let me know
♥
6:04pm
Peter from Saranac Lake NY:
Good evening Mark and technophobes. Looking forward to this interview. Although private equity is better known as vulture capitalists.
🤖♥
6:06pm
Ken From Hyde Park:
Using quantum computing to compute financial decisions. Isn't that just another way to wind up broke? Yes, but faster!
🤖♥
6:07pm
herb.nyc:
Private equity, sounds so rich rich upper class elite
♥
6:07pm
VantuckyEd:
excellent topic, Mark! I've been dealing with a very sick dog and god damn Private euity owns most of the vet's in the area, who hose pet owners.
♥
6:07pm
MIster Mark:
losses and externalities are *always* paid for by the unwitting public and the private capitalists ALWAYS prof$$$t that's just the way it is
I switched to Fastmail a few years ago, and it was one of the best decisions of my life.
See https:// switching.software/ and specifically https: //switching.software/replace/gmail/ . (I added spaces to those URLs because the chatboard's hyperlink converter can't handle the .software exchange.)
And there's a Gmail import tool to ease the transition.
6:15pm
Sam:
Toys R Us was toast anyway. They would have gone belly up and gotten nothing. At least the equity firms paid them some money, right? Or am I not getting it?
I deleted everything from Gmail after converting but did not kill the account entirely -- it still has a forwarding service and an auto-reply that explains my reasons for Getting Off Google.
6:19pm
yippie:
Toys R Us might actually be Russian because they love their backward R
🤖♥
6:19pm
Handy Haversack:
Alas for Deadspin. And Football Outsiders, too.
🤖♥
6:22pm
chris in the redwoods:
i can't remember why, but private equity *wants* to tank the companies they buy. listening to see if my feeble memory can be refreshed.
hi, Mark! hi, gang!
♥
6:23pm
tom tom the pipers son:
what private equity does to businesses our government is doing to the country as a whole
♥
6:26pm
VantuckyEd:
Medivac???? eeek. those start at 10K per trip!
6:26pm
Marie in Chicago:
IHere's a bit about some legislation that was proposed to curb private equity: https://www.warren.senate.gov/newsroom/press-releases/warren-lawmakers-renew-legislative-push-to-stop-private-equity-looting
6:28pm
Marie in Chicago:
I heard that private equity has been buying out veterinary practices and that that is one of the reasons vet care has become so expensive
🤖♥
6:28pm
Threemoons 🌛🌝🌜:
Excellent show so far. When my Stepdad needed a medvac thopter back in the day -- well over 20 years ago -- it was $7K and that was just what my Mom owed out of pocket on her insurance. Private equity firms are poison to what's left of any kind of industry in America
6:28pm
Sam:
It’s really like the mafia. They have their fingers in everything. They break your windows so you’ll pay them for protection.
♥
6:29pm
MIster Mark:
You make money by exploiting humans below you in a meta multi-level marketing slavery scheme
🤖♥
6:29pm
chris in the redwoods:
where we're moving to in central Oregon, we pay the city about $150/yr for insurance for emergency ambulance and life flights. if used, there is no cost.
🤖♥
6:39pm
Threemoons 🌛🌝🌜:
PS the only thing that saved my Mom's butt when her district's 401K was flushed down the toilet by private equity was my Stepdad's military pension.
🤖♥
6:40pm
bravedelay:
Dan Morfitt characterized it eloquently the other week on Wake - it's not a redistribution of wealth, it's money being taken out of circulation. Scraps are what's left, indeed
🤖♥
6:41pm
ultradamno:
Well, they do kind of feel like if you can't afford to build a hospital then you don't deserve health care
♥
6:42pm
PaulRobeson1925:
Theories reflect their creators world view both as the world is and as the world should be.
Hospitals should be a place you go to get well, not a place understaffed that leaves the most vulnerable patients with bed sores and pressure wounds and oral thrush. A hospital should be A place to get well not a place that gives sedatives unnecessarily because they are understaffed and can’t be bothered change a patients diaper more than once in the morning and once in the evening and the nurses could care less about these transient people in the hospital they work at.
Mark, that would be very cool. I've been aware of vulture capital - oops, private equity firms - for some time. Just seems like this is a topic that merits additional episodes. Reading the financialization piece now. Thanks for everything you do.
♥
6:44pm
PaulRobeson1925:
can’t be bothered To* cut nails. “What do they do in the hospital? They don’t change diapers, they don’t get nails, they don’t do nothin’ in the hospital”
tom tom, the two go hand in hand- the Citizens United case & subsequent "Governor Gifty" McDonnell case essentially legalized bribery of the federal political class. The Open For Business sign thus attracted big money to pols who'd rather keep their jobs & health care plans than do what's right. Obama was right in his SOTU address about what Citizens United would start. It did.
Listener comments!
: Longtime listener, love the show. I have a question: you keep saying get off of Gougle at the end of every show. I wish to do that. But how can I do that on my S24 Cellular device? This thing even updated without my permission. Thanks again and keep the show going!
ultradamno: Mark! Techtonsolation Angels!
David (in London): Evening Mark and all Technoids here gathered.
Handy Haversack: Mark and the Techyons!
PaulRobeson1925: Dream Baby, dream
Folsom: Hi Mark!
melinda: hello everyone
wimpy: echoing hugo, if anyone has a good alternative to gmail, please let me know
Peter from Saranac Lake NY: Good evening Mark and technophobes. Looking forward to this interview. Although private equity is better known as vulture capitalists.
Ken From Hyde Park: Using quantum computing to compute financial decisions. Isn't that just another way to wind up broke? Yes, but faster!
bravedelay:
↳ wimpy @6:04
To Hugo as well - Mark has a good deep-dive on big-tech alternatives to gmail and other ubiquitous services in this show:wfmu.org...
herb.nyc: Private equity, sounds so rich rich upper class elite
VantuckyEd: excellent topic, Mark! I've been dealing with a very sick dog and god damn Private euity owns most of the vet's in the area, who hose pet owners.
MIster Mark: losses and externalities are *always* paid for by the unwitting public and the private capitalists ALWAYS prof$$$t that's just the way it is
bravedelay:
↳ herb.nyc @6:07
Private equity, lack of diversity and exclusionultradamno: SAGbot www.yahoo.com...
MIster Mark:
↳ MIster Mark @6:07
bay beeMIster Mark:
↳ MIster Mark @6:08
DON'T LIKE IT ?!? MOVE back 2 where U came from you ingrateSeaCreature: Oh dear. I write about this for a living. Strap in it’s gonna be ugly.
MIster Mark: 2 and 20
points
percentage
pounds of your flesh
it's
all
the
same
extraction
tom tom the pipers son: i believe one can draw a line from hedgefunding to private equity
VantuckyEd: Private Equity are also buying up all the funeral homes chains across the country.
Mark Hurst: Hi Hugo, ultra, DiL, Handy, PaulR, Folsom, melinda, wimpy, Peter, KfHP, bravedelay, herb, VantuckyEd, Mr Mark, SeaCreature, tom tom - welcome!
MK: Hello from my iMac G5! :)
Handy Haversack:
↳ wimpy @6:04
I switched to Fastmail a few years ago, and it was one of the best decisions of my life.See https:// switching.software/ and specifically https: //switching.software/replace/gmail/ . (I added spaces to those URLs because the chatboard's hyperlink converter can't handle the .software exchange.)
Mark Hurst:
↳ Hugo @5:53
Hugo - as @bravedelay pointed out - this is the playlist to look into - wfmu.org...MIster Mark:
↳ MIster Mark @6:10
Dominancesubmission
Ken From Hyde Park: This story sounds like what happened with Red Lobster.
VantuckyEd:
↳ Handy Haversack @6:11
I use fastmail too and it's great!MIster Mark:
↳ MIster Mark @6:11
'White' supremacy2025
tom tom the pipers son:
↳ tom tom the pipers son @6:10
and a line from algorithms and capital from cradle to maturationMarciB:
↳ Handy Haversack @6:11
I use FM for my business and Proton for personal. It was a good move!Peter from Saranac Lake NY:
↳ Ken From Hyde Park @6:11
Exactly.PaulRobeson1925: Toys R US example is what Bernie Sanders is referring to when he says the “economy” is rigged
chresti: Hi Mark and techtonians!
PaulRobeson1925:
↳ PaulRobeson1925 @6:13
That scenariobravedelay:
↳ Handy Haversack @6:11
super helpful, thanks Handy!Mark Hurst:
↳ chresti @6:13
Hi chresti and MarciB, welcome :)MIster Mark: Crapitalism is cancer
stop the growth
invert the pyramid
VantuckyEd: Hey, Mark, you should follow up this show with and interview with Yanis Varoufakis on his book "techno-fuedalism"
Handy Haversack:
↳ VantuckyEd @6:11
And there's a Gmail import tool to ease the transition.Sam: Toys R Us was toast anyway. They would have gone belly up and gotten nothing. At least the equity firms paid them some money, right? Or am I not getting it?
VantuckyEd:
↳ Handy Haversack @6:15
oooooo! I gotta use that to finally kill my gmail account.Handy Haversack: Gotta start chopping things but will be listening!
Sam: No hospital should be for-profit, period.
MIster Mark: Private Equity
Public Enemy
VantuckyEd: Than again, that gmail is only for spam so i never look at it.
Mark Hurst:
↳ Handy Haversack @6:18
chop chopHandy Haversack:
↳ VantuckyEd @6:17
I deleted everything from Gmail after converting but did not kill the account entirely -- it still has a forwarding service and an auto-reply that explains my reasons for Getting Off Google.yippie: Toys R Us might actually be Russian because they love their backward R
Handy Haversack: Alas for Deadspin. And Football Outsiders, too.
MIster Mark:
↳ MIster Mark @6:18
Chuck D whistling past Anthony Blinken's graveyardMark Hurst:
↳ yippie @6:19
Megan explains the backward R in the book - interesting history of the companyPaulRobeson1925: Who should “own” a nursing home?
Who should make America? What is American Culture
DjLorraine: Hello
chris in the redwoods: i can't remember why, but private equity *wants* to tank the companies they buy. listening to see if my feeble memory can be refreshed.
hi, Mark! hi, gang!
tom tom the pipers son: what private equity does to businesses our government is doing to the country as a whole
Mark Hurst:
↳ chris in the redwoods @6:22
yep Megan explained it earlier in the interview - loading the company down with debt and selling off assetsHarry Corvair: Deadspin, alas. Great in its heyday. Much missed.
Mark Hurst:
↳ DjLorraine @6:22
hi DjL and chris in the redwoods!tom tom the pipers son:
↳ tom tom the pipers son @6:23
liquidationMIster Mark: Remember your television news late 70s/80s 5 minutes devoted to local opinion advocacy?
MIster Mark:
↳ MIster Mark @6:24
clips from Techtonic could be excellent PSA drops todayMIster Mark:
↳ MIster Mark @6:24
or Currents WFMU Saturday morningsSam: Givin’ birth just ain’t profitable enough!
tom tom the pipers son: the government is a private equity firm
VantuckyEd: Medivac???? eeek. those start at 10K per trip!
Marie in Chicago: IHere's a bit about some legislation that was proposed to curb private equity: https://www.warren.senate.gov/newsroom/press-releases/warren-lawmakers-renew-legislative-push-to-stop-private-equity-looting
Marie in Chicago: I heard that private equity has been buying out veterinary practices and that that is one of the reasons vet care has become so expensive
Threemoons 🌛🌝🌜: Excellent show so far. When my Stepdad needed a medvac thopter back in the day -- well over 20 years ago -- it was $7K and that was just what my Mom owed out of pocket on her insurance. Private equity firms are poison to what's left of any kind of industry in America
Sam: It’s really like the mafia. They have their fingers in everything. They break your windows so you’ll pay them for protection.
MIster Mark: You make money by exploiting humans below you in a meta multi-level marketing slavery scheme
chris in the redwoods: where we're moving to in central Oregon, we pay the city about $150/yr for insurance for emergency ambulance and life flights. if used, there is no cost.
Peter from Saranac Lake NY: Mark, I think you can do multiple episodes on this topic.
compass: what was the name of the paper and author she described?
Mark Hurst:
↳ Peter from Saranac Lake NY @6:29
Interesting - I was thinking of doing another episode on a related topic... financialization, inequality, and how tech fits into that...Mark Hurst:
↳ compass @6:31
The financialization of the American economy, by Greta Krippner (May 2005) - PDF link is on the playlist.MIster Mark: Suffered woefully under a Milton Friedman acolyte professor freshman econ class
tom tom the pipers son: other people’s money? a lesson taught by musk and zuck...
Threemoons 🌛🌝🌜: PS the only thing that saved my Mom's butt when her district's 401K was flushed down the toilet by private equity was my Stepdad's military pension.
bravedelay: Dan Morfitt characterized it eloquently the other week on Wake - it's not a redistribution of wealth, it's money being taken out of circulation. Scraps are what's left, indeed
ultradamno: Well, they do kind of feel like if you can't afford to build a hospital then you don't deserve health care
PaulRobeson1925: Theories reflect their creators world view both as the world is and as the world should be.
Hospitals should be a place you go to get well, not a place understaffed that leaves the most vulnerable patients with bed sores and pressure wounds and oral thrush. A hospital should be A place to get well not a place that gives sedatives unnecessarily because they are understaffed and can’t be bothered change a patients diaper more than once in the morning and once in the evening and the nurses could care less about these transient people in the hospital they work at.
Leadership is so important.
Peter from Saranac Lake NY:
↳ Mark Hurst @6:32
Mark, that would be very cool. I've been aware of vulture capital - oops, private equity firms - for some time. Just seems like this is a topic that merits additional episodes. Reading the financialization piece now. Thanks for everything you do.PaulRobeson1925: can’t be bothered To* cut nails. “What do they do in the hospital? They don’t change diapers, they don’t get nails, they don’t do nothin’ in the hospital”
MIster Mark:
↳ bravedelay @6:40
gill o teens might spark some re-circulationultradamno:
↳ ultradamno @6:08
Tilly Norwood backlash variety.com..."(we) want her to be the next Scarlett Johansson" variety.com...
Ken From Hyde Park: Can I found a church Blessed Lady of Private Equity and acquire even more tax breaks?
ultradamno: ...of the Silicon Valley Norwoods, I'm guessing
PaulRobeson1925: What is a hospital for?
PaulRobeson1925:
↳ PaulRobeson1925 @6:47
What is America for?MIster Mark:
↳ PaulRobeson1925 @6:47
bloodletting?MIster Mark:
↳ MIster Mark @6:48
*blood leasing?ultradamno: BLUE SKI
Threemoons 🌛🌝🌜: Thanks, Mark!
Handy Haversack: Thanks, Mark and Megan!
MIster Mark:
↳ ultradamno @6:50
lift passes prominently clipped to jacket zipperKen From Hyde Park: Private Equity Pork Belly Futures, a good name for a band.
ultradamno:
↳ ultradamno @6:47
www.tillynorwood.comchresti: Thanks Mark and Megan!
bleubombersune: Thanks Mark and Megan
Ken From Hyde Park: Thanks, Mark & Megan.
egould: Thanks Mark! Thanks Megan!
ultradamno:
↳ ultradamno @6:55
She takes selfies, even www.instagram.com...?:
↳ tom tom the pipers son @6:23
tom tom, the two go hand in hand- the Citizens United case & subsequent "Governor Gifty" McDonnell case essentially legalized bribery of the federal political class. The Open For Business sign thus attracted big money to pols who'd rather keep their jobs & health care plans than do what's right. Obama was right in his SOTU address about what Citizens United would start. It did.chresti: It was a bummer for sure jeez!
ultradamno:
↳ ultradamno @6:58
"Me taking 87 identical photos of trees like I’m about to start a nature blog. Let the girl have her moment""Not a girl" - Janet
Mark Hurst: Thanks, everyone!
Micheal: Great show - thanks, Mark and Megan!
Bas NL: Thanks Mark! Thanks Megan!