You might have heard the term “private equity” thrown around lately.
Private equity, or “termite capitalism,” as it’s been ironically called, is a sweeping term for a massive industry built around buying and flipping established companies. These businesses can be just about anything — municipal water utilities, chain restaurants, bottling plants, and even retirement homes.
The strategy is largely extractive. When someone flips an abandoned house, they’re theoretically making structural…
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https://futurism.com/billionaire-ai-businesses
