Is private equity a worthwhile career?
>>62538342bump
>>62538342Depends on what you mean by "worthwhile".PE is basically all about fucking over other people to steal their money. Take a look at the Red Lobster saga.0. PE owns a Thai shrimp farm1. PE buys RL2. PE loads up the restaurant chain with bond debt sold to idiots who think that PE is going to run the restaurants like actual restaurant owners interested in running restaurants3. PE "sells" all of RL's real estate to another separate corporate entity which then "leases" the properties back to the restaurant chain at unaffordable lease rates4. PE has the restaurants do an "endless shrimp" promotion, selling shrimp at inflated prices to the restaurant which loses money on every dinner sold5. RL is driven deep into totally unsustainable debt due to these and probably more shenanigans6. PE then has RL declare bankruptcy, thus fucking the bondholders completely (they get zero)7. PE continues to run the restaurants and the "endless shrimp" promotion to strip more money out of idiots who think they'll get a return on their post-bankruptcy bonds some dayIf that sort of fuck-over-everyone-to-make-millions deal makes you hard, then PE is for you.
