You know, private equity firms invest capital in companies, you know, perhaps to take them

private, we'll then seek to dramatically grow cash flow at that company for, you know,

their own and their investors benefit, and then we'll sell the company and keep the

profits.

They're making money, destroying companies.

Yes.

Yeah, because capitalism, Nick.

From the home offices of civic ventures in downtown Seattle, this is pitchfork economics,

with Nick Hanauer, the best place to get the truth about who gets what and why.

I'm not sure that you know this about me, Nick, but my father was a psychiatrist.

I did know that about you.

He explains a lot about your personality.

Yes, it does.

Very, very into Freud.

And, you know, I bring this up actually because he, he did his psychiatric residency at

Hanuman University Hospital in Philadelphia, and years later, he also taught medical students

there.

It's, it was a hospital, been there forever in, in the middle of Philadelphia, not in a

very wealthy neighborhood, served a lot of inner city residents, high rate of poverty

among its, its patients.

And in 2018, it was bought by a private equity firm.

And two years later, it was shut down, and they're selling off its very valuable real estate.

...