Ask them how their experience is with companies taken over by venture capitalists.
Take Walgreens for example. Their new VC “rich people” owners, Sycamore Partners have closed 500 stores and cut 9000 jobs since taking over. They’ve cut so many jobs that the remaining employees no longer even try to answer the phones. The shelves are bare and the prices even higher than they used to be.
My brother owned a local franchise for a few years. When he first got into it he really liked the owners, their methods, etc. Last year the owners sold out to a private equity firm that started squeezing all the franchises with insane demands in order to make them more money. My brother got out as quickly as he could, and ended up barely breaking even.
Fuck private equity firms. I hope there’s a special place in hell for them.
Ask them how their experience is with companies taken over by venture capitalists.
Take Walgreens for example. Their new VC “rich people” owners, Sycamore Partners have closed 500 stores and cut 9000 jobs since taking over. They’ve cut so many jobs that the remaining employees no longer even try to answer the phones. The shelves are bare and the prices even higher than they used to be.
“Trickle down” means being pissed on.
My brother owned a local franchise for a few years. When he first got into it he really liked the owners, their methods, etc. Last year the owners sold out to a private equity firm that started squeezing all the franchises with insane demands in order to make them more money. My brother got out as quickly as he could, and ended up barely breaking even.
Fuck private equity firms. I hope there’s a special place in hell for them.