Private Equity Cuts Fire Trucks

Matt shares a story about how private equity's aggressive business practices can harm essential services.

"There's this crazy story where one of the reasons there were shortages of fire trucks in LA was because the fire truck manufacturers had been rolled up by private equity. They'd been jacking up the prices, and there were huge waiting lists for new fire trucks and fire truck repairs. This is an example of how private equity famously goes in, hollows out businesses, and extracts all the value until it kills it. Not all private equity is bad - there's good investors and bad investors in every asset class."