What happens when private equity takes over your hospital, your house, and your job

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• 00:00

  This is In Conversation from Apple News.

• 00:07

  I'm Shemeeta Basu.

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  Today, why private equity is everywhere.

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  Back in 2019, Megan Greenwell had her dream job.

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  She was the editor of Deadspin, an online sports,

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  politics and culture news outlet, and the site was thriving.

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  We were doing well traffic wise.

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  We had this deeply loyal audience.

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  We were profitable.

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  It was going great.

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  Deadspin was owned by Univision,

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  but when the site got acquired by a small Boston private equity firm,

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  the change was swift.

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  It was just clear pretty immediately that they didn't really care what was making us successful.

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  They had no curiosity about what actually worked and what didn't.

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  Ultimately,

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  Megan's differences with the new management led her to leave within three months of the acquisition.

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  It was that experience,

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  of seeing firsthand how quickly private equity can completely change a company,

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  that made her wonder how private equity works in other sectors.

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