How Is Private Equity Legal?

First up, private equity.

Do you watch Shark Tank? Yes.

I do.

I wasn't asking you.

I wasn't asking you.

I'm the only other person here.

Do you watch Shark Tank?

Yes.

I put the pause in just because I was trying to see if you would do it again.

I'm going to try this a different way.

You watch Shark Tank.

We all do.

Including me.

No, I don't need it.

Shark Tank, very popular TV show where venture capitalists meet with hopeful entrepreneurs, invest in their companies.

So we all kind of we get that framework of I've got money.

I'm going to put it in your company.

We'll all make money.

Well, in recent years, it seems that alongside every story about those type of venture capitalists, there's a story about private equity and they're kind of all mixed up.

I always thought it was basically the same, but with some differences that would bore the crap out of me.

Well, over time, with the help of today's guest, I've noticed that those stories about private equity firms are all kind of dark.

Millions of job losses, 20,000 people dying when they shouldn't have in nursing homes.

I mean, I know they're going there to die, but like this is when they weren't supposed to die.

And those nursing homes being backed by private equity.

And then there's the famouses who absolutely love private equity and start their own firms or partner with some established firm.