So, did our host read the full list at each location or did our sheepish friend watch our host awkwardly read out random disjointed names from the buildings nearby. E: Nevermind, the B reel footage at the end holds the answer.
Some of you may have noticed we spelled Will Flanary's name wrong. Some of you may also notice that he has more subscribers than us. So many of you will notice we won't do anything.
Yeah, Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
Racketeering doesn't exist in the world of lobbying - which ironically is just bribery in a world outside of lobbying. See if you just name them differently and put them in context, they're no longer illegal :)
200,000 people are killed by malpractice in the USA ever year. Thats 500% higher than all gun deaths combined in the USA. And frankly, I think 200,000 is an undercount.
@@petarpetrov3591this video. Also there are studies out there demonstrating wise outcomes in privately owned healthcare services that aren't physician run/owned.
What a great channel. The reseach, the aesthetic, the delivery, the live-on-the-street vibe with people's reactions, some of the small fly-by jokes like the spin, genuinely fantastic.
"The research". Shows some uneducated journalist with her pretentious "elites are bad" book displayed on a shelf so everyone can see it. It's pathetic tbh. This is journalism not research.
Lawyers 😂 seriously what do they do for a living. My father and mother are both lawyers making $200,000+ per year and I have no idea what they even do.
When I was in high school I stumbled upon this industry almost by accident when I wrote a paper about how Private Equity is currently strangling local journalism out of existence. If you're wondering why the local paper that used to have a wide circulation in your area is now just five people running an instagram account, the answer is Condé Nast
Holy shit i just scrubbed for anny article down talking them and it took me alot longer than makes me feel comfortable. Its all other news agencys proping them up and the govt saying how they are the leaders of free speech etc. i havent seen cencing this bad since something about hunting a laptop (if i say it u wont see this comment)😊
And these are the 5 people with significant control over Conde Nash Holdings Limited: find-and-update.company-information.service.gov.uk/company/05516970/persons-with-significant-control Perhaps the USA should also adopt transparent company registration?
I did consulting for PE and I can tell you these firms do close to zero technology due diligence when making an investment. They are oftentimes making large investments in tech and have no technical people on staff. After seeing how the sausage is made it’s terrifying how much money they have and how so much of it is pension funds.
I work in PE (head of acquisitions) and this doesn't describe us. We're annoyingly cautious - haven't bought anything in the last 12 months after having done DD on 200 deals. Saying these firms do close to zero due diligence is like saying that all Americans are bad people.
@@JH-jy1ye I was gonna say, PE don't do a lot of investments like how Hedge Funds do as PE is known for taking their time on making deals. I hope to get a job in PE one day! One question, if I start out as a Financial Analyst, could I make my way into investment banking and then PE in the future? I know PE loves hiring people with investment banking experience.
@@JH-jy1yeyou financial fucks destroyed the world in 2008 and are in track to do it again. Every firm looks to break the system so they can drain the money from it like a vampire. I wish our government wasn't bought out by you leeches and would work for the people.
@@JH-jy1yeI can promise you most firms do not understand the tech they invest in. The DD you refer to is all around ops and finance, not tech. I worked with a lot of very prominent firms and they didn’t know anything about the underlying technology or capabilities of the tech they invest in and had no way to validate technology claims. That’s why we were brought in. The last firm I was with (very successful firm) had just made 2 large investments and when we looked at the tech it was essentially vaporware. Not to mention all the crypto stuff these firms dove into head first. Your mistake is conflating crunching numbers in excel and risk assessment into actually understanding the viability of the business based on their tech. It’s a huge blind spot for firms, and their portfolio has a lot of duds as a result that could’ve been avoided.
private equity is the reason i haven't gotten a merit increase nor cost of living adjustment at my job despite single handedly saving the company $350k USD per year after some optimization work I did.
Autoliv gave my coworkers a 2% raise for saving them 2.5 million dollars each year. The inflation that year was 7%....I would swap companies cause it is the only way to get a raise these days.
"it's kind of capitalism on steroids" "that was my nickname in college" Lmfao! This channel needs to blow up. This is the best way to get news stories.
Housing crisis, health crisis, financial crisis, cost of living crisis, debt crisis, inflation crisis, Middle East crisis. How many crises can we endure? As I approach retirement with a solid financial cushion, I'm anxious about a potential banking crisis. Is private equity a good option to grow my money securely?
I would advise the counsel of a seasoned financial pro. It may be expensive, but as the old saying goes "You get what you pay for." "Expert solutions require Expert providers" - my mantra.
Truth is, investing with the help of an advisor set me up for life. Retired with about $1.6m in stock portfolio only. I worked hard everyday as a teacher for 28 years, and my salary was over 100k annually. Supplementing my income with stocks and alternative investments helped me by far beat the retirement age of 65.
I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. mind if I look up the professional guiding you please?
Judith Lynn Staufer is my financial advisor. You can find all the necessary details by searching her name online. Initially, I was hesitant about letting someone else manage my finances, but I'm really glad I did.
Blackstone does own things you’d never expect. They purchased Center for Autism and Related Disorders, or CARD, which is the worlds largest autism clinic. After purchasing the company in 2018 they bloated the company, trying to get as many centers/clinics, and profits, as possible. But after covid happened and both staff and clients dried up, they had to close over 100 centers, pulling out of 10 states completely. They went bankrupt this year, and the company was bought back by the founder. (This isn’t exactly a great thing, the founder sold it for a few hundred million, and bought it back for 48.5 million. Also the founder Dr. Doreen Granpeesheh has appeared on the antivax “documentary” Vaxxed which pushes the vaccines cause autism conspiracy, and she has also lead anti union efforts in CARD.) I realize this is a tiny part of the Blackstone story, but id love if this story could have any news coverage.
Last I heard the causes of autism rising is unknown. I doubt we ever will known as there is a lot of obvious propaganda on both sides. Remember the proverb money talks and garbage walks.
No shot... this is literally 100 level shit you had to have not been reading your textbook. You fucking learn about companies like blackstone and private equity in business accounting 100 which is usually required for most business degrees.
Got recommended this channel randomly for some reason. Holy shit what a find. Apparently this guy did mostly just comedic bits and recently transitioned into actual journalism - what a great decision. Keep up the... GOOD WORK HUHUHUHUH
To say I laughed watching this... my first finance job was a research analyst for a boutique capital raising firm. Our clients covered two main areas, Private Credit, and Private Equity. What were my first three projects into PE based on? Local Government Pension Schemes (Later I would also do DB pension funds), Charities & Endowments, and Family Offices (SFOs, MFOs, WMs). The amount of money that flows around in PE is insane. We were often raising for funds in the hundreds of millions of $... there were less than 10 of us in the office. Some of those funds were seeing 20%+ returns year on year. If you make even 5% as commission for fund raising as a team (average success fee), you're set for life, and raising those funds are not tricky at all. On a different note, would be great to see a video on my other love, Private Credit / Debt. Some really interesting aspects to it as it stands post 2009 in the US, and some interesting new players around NYC. Defo seeing a massive increase in investment there as well with current interest rates (see that as you will).
Did not expect the Dr Glauc cameo. Love both of you guys! Also for those interested he has a series going on right now on insurance in healthcare that is really funny and depressing.
this video is a million times better than the one about consultants. it's great to hear well informed critical viewpoints. in the other one you sort of ignored the fact that what they actually do is evil and destructive in many cases.
Afaik both communism and capitalism argued for this argued for approaching the work gains to the worker. One system failed miserably, the other is barely holding. So yeah, it's something most people can agree with, but it always gets hijacked by the few.
@@AlbertBalbastreMortenot only that, the American brainrot of calling everything communism is actually affecting other countries as well. One thing is not being a communist, another thing is being an anarcho-capitalist which is where most of these people are going. Meanwhile fewer and fewer people there can afford bills, let alone a home.
When i was getting my masters in finance i was interested in PE. Then i didn't get a call back from any of the investment banks i applied to so i decided it was terribly unethical
I dont like degree inflation but i wouldnt say college is a scam for everyone, i do think the idea that everyone must go to college is well not a scam exactly but a pretty shitty idea.
Smile200-z4y Eh, we should make it so everyone can go to college affordabley. Yeah, some people should probably do Trades, but having an edcuated Citizenrey is beneficial in the long term.
14:34 - I think the big thing to mention is that private equity funds can have misleading returns because their investments are illiquid and don’t have a ready market for them to assess fair value. If you have stocks, you can easily say year to year that you’re up or down xx%. It’s not possible to do this accurately for companies that you hold for 5 years (hence why PE firms express their returns in IRR which can be misleading to compare to annualized returns of a public index)
Ahh yes, the people that will take your money and hide it for you no matter how dirty it is lol (drug cartels, corrupt politicians, and terrorist organizations). I know all too well about Mossack Fonseca because I lived in Panama for 12 years. Only a year after I moved back to the US, the Panama Papers story broke.
This is simply perfect. I really hope this will reach people who otherwise may not have had a clue about the implications of private equity. I think it's something to be feared, and it's insane that it's taken *this* long for the SEC to do anything about it - without them really doing shit anyway, because it's all too little *far* too late.
The editing for this is great! I need a private equity firm to fund my education, and my ebay power ranger megazord buying habits. The man watching you from the sign is, himself, the man who MADE private equity.
No you dont! Lol. They’re just screw you over and make you go bankrupt. No, what you need is to RUN a private equity firm. And then… throw a little cash over this way. Just a cool mill or so. I’m not greedy.
Thank you so much for this video but in these uncertain times it is more important than ever to have a solid understanding of how the government are still in charge of our wealth and manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
I'm glad we are on this topic. They are basically monopolies, but they way they are structured, they only need to buy a controlling share, not the whole thing
Think of it this way. It's harder to convince people they are in a lifelong servitude if it's their companies who are instead... It's literally just an extra layer of abstraction to the exact same thing.
Then they have to offer lower quality or higher prices, then the customer has to cut spending or make more .... then the brick wall - low wages, no jobs. All ends with the majority getting stuffed.
Not really because if tht happens then the private equity firm makes a loss and the bank tht gave the loan lol I think people just want to be upset by things they don't understand
i always wondered why there was not more of an uproar from all the "private" business's during lock down. they just took a year of two off while their small business competitors were decimated and/or gobbled up. got it now!
It is always good to have a financial plan. I work with a fixed income planner and portfolio manager in the USA. The fixed income portion of your portfolio won’t simply serve as a buffer to the volatility of the equity but will provide income.
I absolutely love the guy behind you at 3:30 with the Blackstone advert looking at you as you're running through the examples. I want to know what he was thinking.
What an astounding piece of investigative journalism. This team is able to present such a gargantuan level of relevant, and in my opinion largely objective, information in a manner that is so accessible to both its intended and wider audience - truly a commendable feat. It has been nothing short of a pleasure to watch this team prosper. We as the public have been taught to forget that the economy should serve the betterment of all, what use is improving gross GDP if our standards of living continue to fall? The price of liberty is eternal vigilance, and the powers that be continue to hone their ability to obfuscate their influence, we should all be wary. Thank you for shedding so much light on such a shaded yet encompassing element of our lives. Bravo!
You know it's a banger when a trench coat-wearing journalist investigates shady financial practices. P.S. It was a bummer, Dan, when I heard your breakup with Em Rata.
I work with these PE firms on real estate aquisitions and it’s insane really. They will buy an asset at 50% inflated prices just to “manage” it. I’m talking about buying a apartment site for $150M when the real value is probably $100M. They would be 100% screwed if they were ordinary investors or normal investment funds but they don’t care what the true value is, they only care to “manage” the assets that they own for a fee.
"Its strange for something so big and controversial to be so back of mind for Americans. Its like mass shootings..." Holy moly that is a hard line that made me both laugh and sad at the same time.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
Many individuals report success in investing in stocks, forex, and cryptocurrency (Bitcoin), yet I continue to struggle. Can somebody help me out or advise me on what to do?
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
This is very well put together. I'm impressed by your humor. Moreover, you & your team have inserted meaningful props and transitions. My 2 faves were you walking up from the subway (emphasizing how you're like everyone else) and the silly kitty poster that says "hang in there." Your guest was clearly very passionate about the nefariousness of PE and that kitty was obviously a victim of the crumbling capitalist 'unfrastructure.' Bravo.
@16:09 😭😭😭 This channel is golden ! We must support this kind of journalism & protect this guy. Edit : Let me put some respect on his name, Dan Toomey ! We must protect him.
I used work in Evercare Hospital previously private owned, brought by vc funds and then it become a money siphoning machine. Doctors treats patient like cattles. Nurses & all staffs are short staffed.
The same thing happened in the 1990's with healthcare. All the managers that screwed up in the Savings and Loan scandal moved into being managers in healthcare. Took years and a lot of deaths to clean that mess up. Looks like it has been creeping in again in the last 5-10 years.
I absolutely love these guys. Content is always hilarious and serves as a a great gateway into doing more research on these interesting topics. I also ran into Dan and Henry near Union square and can vouch that they’re very cool people
Ah yes, so the smooth transition @ 5:05 was merely to prevent us from seeing that man stuff his privates with a whole lot of equity. Well done Dan and team for your cutting edge investigative reporting even in the face of horror.
This is like The Daily Show or other news/comedy shows that have their "field reporters". Incredible work, you're gonna make 1 million subscribers easy
All right, I appreciate this blend of information and comedy and a portrayal of journalists that doesn't seem like it's really been accurate since 1992. You get my subscribe.
The easygoing, entertaining, and informative quality of this video is impressive. I love the insight that we can get from these "mysterious" corporate entities that are casually explained to the audience. Keep it going @team goodwork!
why the fuck am I learning about economics while stoned, thank you Dan
lmao same
It's 10 in the morning brotha
Thought there was no better way to enjoy this masterpiece. I was wrong.
@@iJesters And?
Happy Friday 🎉
The guy awkwardly peeking near the Blackstone sign adds that much more hilarity to an already incredible video. Dan you're killing it.
So, did our host read the full list at each location or did our sheepish friend watch our host awkwardly read out random disjointed names from the buildings nearby.
E: Nevermind, the B reel footage at the end holds the answer.
He's a spy. Blackstone are on to you Jacob.
@@lz6527thought of that one too 😂😂
Time stamp pls?
@@lalitparashar5961 3:47
Some of you may have noticed we spelled Will Flanary's name wrong. Some of you may also notice that he has more subscribers than us. So many of you will notice we won't do anything.
😂😂😂😂
You also misspelled ophthalmologist 😅
this has to be one of the best channels on UA-cam😂, dont ever change Dan and GoodWork_
And lately you've been stuffing 43% of your privates with a whole lot of equity.
So based
Watching this series slowly get more and more serious is brilliant.
we promise to get more stupid from here on out
💯💯💯
@@GoodWorkMB make fun of the nonsense, yeah, but you got to let us know the nonsense first, thanks
Honestly this cannot be overemphasized, helping people mitigate unforseen circumstances and mistakes,
Yeah, Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
wait why the fuck do private equity schemes sound exactly like the mob’s racketeering???
🤔🤔🤔🤔
It’s not racketeering if you pay politicians enough $$$ to make it legal.
Racketeering doesn't exist in the world of lobbying - which ironically is just bribery in a world outside of lobbying. See if you just name them differently and put them in context, they're no longer illegal :)
Because it works
Hospitals owned by private equity having 10% higher mortality because they cut costs and don't prioritize lives, was a hard pill to swallow
200,000 people are killed by malpractice in the USA ever year. Thats 500% higher than all gun deaths combined in the USA.
And frankly, I think 200,000 is an undercount.
source?
@@petarpetrov3591this video. Also there are studies out there demonstrating wise outcomes in privately owned healthcare services that aren't physician run/owned.
Also harder pills to swallow probably didn't help with mortality rates
so horrific yet so unsurprising
What a great channel. The reseach, the aesthetic, the delivery, the live-on-the-street vibe with people's reactions, some of the small fly-by jokes like the spin, genuinely fantastic.
I almost peed myself when he started spinning out of nowhere
For real, it's like The Daily Show's correspondent segments back in the day when it was still a great show
"The research". Shows some uneducated journalist with her pretentious "elites are bad" book displayed on a shelf so everyone can see it. It's pathetic tbh. This is journalism not research.
Dan is the new Colbert
Lately, these guys, have been stuffing their privates with a whole lot of equity.
We have now fully investigated private equity. If some international authority doesn't kidnap us now, what should we cover next?
Military contractors
Interpol to see who investigates more throughly? 😂😂😂
WFH productivity statistics
Lawyers 😂 seriously what do they do for a living. My father and mother are both lawyers making $200,000+ per year and I have no idea what they even do.
Trade Unions!
When I was in high school I stumbled upon this industry almost by accident when I wrote a paper about how Private Equity is currently strangling local journalism out of existence. If you're wondering why the local paper that used to have a wide circulation in your area is now just five people running an instagram account, the answer is Condé Nast
and thats why readership of these garbage publications went from in the toilet to flushed down the drain
Holy shit i just scrubbed for anny article down talking them and it took me alot longer than makes me feel comfortable. Its all other news agencys proping them up and the govt saying how they are the leaders of free speech etc. i havent seen cencing this bad since something about hunting a laptop (if i say it u wont see this comment)😊
And these are the 5 people with significant control over Conde Nash Holdings Limited: find-and-update.company-information.service.gov.uk/company/05516970/persons-with-significant-control
Perhaps the USA should also adopt transparent company registration?
Condé pulled a conda 🐍
It's actually more so because the news is not as profitable as it used to be
I did consulting for PE and I can tell you these firms do close to zero technology due diligence when making an investment. They are oftentimes making large investments in tech and have no technical people on staff. After seeing how the sausage is made it’s terrifying how much money they have and how so much of it is pension funds.
PE is like a grocery store, they stock everything but their big winners are usually from a few products.
I work in PE (head of acquisitions) and this doesn't describe us. We're annoyingly cautious - haven't bought anything in the last 12 months after having done DD on 200 deals. Saying these firms do close to zero due diligence is like saying that all Americans are bad people.
@@JH-jy1ye I was gonna say, PE don't do a lot of investments like how Hedge Funds do as PE is known for taking their time on making deals. I hope to get a job in PE one day! One question, if I start out as a Financial Analyst, could I make my way into investment banking and then PE in the future? I know PE loves hiring people with investment banking experience.
@@JH-jy1yeyou financial fucks destroyed the world in 2008 and are in track to do it again. Every firm looks to break the system so they can drain the money from it like a vampire. I wish our government wasn't bought out by you leeches and would work for the people.
@@JH-jy1yeI can promise you most firms do not understand the tech they invest in. The DD you refer to is all around ops and finance, not tech. I worked with a lot of very prominent firms and they didn’t know anything about the underlying technology or capabilities of the tech they invest in and had no way to validate technology claims. That’s why we were brought in. The last firm I was with (very successful firm) had just made 2 large investments and when we looked at the tech it was essentially vaporware. Not to mention all the crypto stuff these firms dove into head first. Your mistake is conflating crunching numbers in excel and risk assessment into actually understanding the viability of the business based on their tech. It’s a huge blind spot for firms, and their portfolio has a lot of duds as a result that could’ve been avoided.
private equity is the reason i haven't gotten a merit increase nor cost of living adjustment at my job despite single handedly saving the company $350k USD per year after some optimization work I did.
You're expecting to be rewarded for your work in a capitalist society?
Sounds like you should just leave the company at that point
Autoliv gave my coworkers a 2% raise for saving them 2.5 million dollars each year. The inflation that year was 7%....I would swap companies cause it is the only way to get a raise these days.
Chump
@@avalokiteshvara113Let’s not kick the horse while he’s down.
The only journalist I trust
take that, journalism
this and channel 5
Didn't you hear? he's owned by a PE firm
@@taelfayre6632you ain’t hear the news?
@@GoodWorkMBkkr is proud of you 😂
The “Will Flannery: ophthalmologist, comedian. Dan Toomey: struggling journalist, struggling comedian.” got me 😂😂😂
I lost it at “thinks all funs should be mutual”
'private equity' in the housing sector has been catastrophic for renters. rentierism is parasitism.
I love that I could show my dad this video and he would think it’s a serious financial news channel.
that's because we are
Until the blooper reel.
You think it’s not?
It absolutely is a serious channel. It is doing journalism, exposing the BS and corruption in business and finance.
It just has modern class and enough jokes to entertain the ADHD
"it's kind of capitalism on steroids"
"that was my nickname in college"
Lmfao! This channel needs to blow up. This is the best way to get news stories.
Housing crisis, health crisis, financial crisis, cost of living crisis, debt crisis, inflation crisis, Middle East crisis. How many crises can we endure? As I approach retirement with a solid financial cushion, I'm anxious about a potential banking crisis. Is private equity a good option to grow my money securely?
I would advise the counsel of a seasoned financial pro. It may be expensive, but as the old saying goes "You get what you pay for." "Expert solutions require Expert providers" - my mantra.
Truth is, investing with the help of an advisor set me up for life. Retired with about $1.6m in stock portfolio only. I worked hard everyday as a teacher for 28 years, and my salary was over 100k annually. Supplementing my income with stocks and alternative investments helped me by far beat the retirement age of 65.
I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. mind if I look up the professional guiding you please?
Judith Lynn Staufer is my financial advisor. You can find all the necessary details by searching her name online. Initially, I was hesitant about letting someone else manage my finances, but I'm really glad I did.
I found her profile online and reviewed her credentials. She has impressive experience. Thanks for sharing! I've already sent her an email.
Blackstone does own things you’d never expect. They purchased Center for Autism and Related Disorders, or CARD, which is the worlds largest autism clinic. After purchasing the company in 2018 they bloated the company, trying to get as many centers/clinics, and profits, as possible. But after covid happened and both staff and clients dried up, they had to close over 100 centers, pulling out of 10 states completely. They went bankrupt this year, and the company was bought back by the founder. (This isn’t exactly a great thing, the founder sold it for a few hundred million, and bought it back for 48.5 million. Also the founder Dr. Doreen Granpeesheh has appeared on the antivax “documentary” Vaxxed which pushes the vaccines cause autism conspiracy, and she has also lead anti union efforts in CARD.) I realize this is a tiny part of the Blackstone story, but id love if this story could have any news coverage.
Last I heard the causes of autism rising is unknown. I doubt we ever will known as there is a lot of obvious propaganda on both sides. Remember the proverb money talks and garbage walks.
fascinating
I just realized watching this video today, my company is owned by Blackstone
Isn't she a doctor? Don't people believe all doctors?
@@ggsupreme4063people believe the general consensus, with is backed by the volume of available evidence.
I learned more about finance from this video than i did from my finance degree.
As someone who graduated with a finance and accounting degree, you are 100% correct
Happens when you go to McDonalds University.
No shot... this is literally 100 level shit you had to have not been reading your textbook. You fucking learn about companies like blackstone and private equity in business accounting 100 which is usually required for most business degrees.
Uni degrees aren't really designed to make you a thinker, just a worker
How?
Absolutely insanely packed with info. Fantastic video guys
ty king
That's the direction we all wanted this channel going to!
This is one of the most beautifully done UA-cam videos I've ever watched. Well done 43.5% KKR
Got recommended this channel randomly for some reason. Holy shit what a find. Apparently this guy did mostly just comedic bits and recently transitioned into actual journalism - what a great decision. Keep up the... GOOD WORK HUHUHUHUH
To say I laughed watching this... my first finance job was a research analyst for a boutique capital raising firm. Our clients covered two main areas, Private Credit, and Private Equity. What were my first three projects into PE based on? Local Government Pension Schemes (Later I would also do DB pension funds), Charities & Endowments, and Family Offices (SFOs, MFOs, WMs). The amount of money that flows around in PE is insane. We were often raising for funds in the hundreds of millions of $... there were less than 10 of us in the office. Some of those funds were seeing 20%+ returns year on year. If you make even 5% as commission for fund raising as a team (average success fee), you're set for life, and raising those funds are not tricky at all.
On a different note, would be great to see a video on my other love, Private Credit / Debt. Some really interesting aspects to it as it stands post 2009 in the US, and some interesting new players around NYC. Defo seeing a massive increase in investment there as well with current interest rates (see that as you will).
too long - can someone summarize this comment
@@GoodWorkMB "I made a shitload of money, it was lit."
@@GoodWorkMB this guy is stuffing his privates with a whole lot of equity
TL;DR: PE money printer go Brrrrr, make a video on Private Credit.@@GoodWorkMB
Fundraising makes good $. Private Credit is cool now. Plz make video on how it will "disrupt" public credit.@@GoodWorkMB
I love how you delivered the Abe Lincoln joke as if you were bombing at a standup routine
You guys are so damn good at what you do. Funny as hell, educational, and lately stuffing their privates with a whole lotta equity
I just found this channel today and it’s all so good. Keep it up!
Did not expect the Dr Glauc cameo. Love both of you guys! Also for those interested he has a series going on right now on insurance in healthcare that is really funny and depressing.
this video is a million times better than the one about consultants. it's great to hear well informed critical viewpoints. in the other one you sort of ignored the fact that what they actually do is evil and destructive in many cases.
Gotta say, I love the detective trenchcoat aesthetic
We need to end the separation of ownership and control. If you want a business, run it yourself. If you want a house, live in it. Simple.
Afaik both communism and capitalism argued for this argued for approaching the work gains to the worker. One system failed miserably, the other is barely holding. So yeah, it's something most people can agree with, but it always gets hijacked by the few.
@@AlbertBalbastreMortenot only that, the American brainrot of calling everything communism is actually affecting other countries as well. One thing is not being a communist, another thing is being an anarcho-capitalist which is where most of these people are going. Meanwhile fewer and fewer people there can afford bills, let alone a home.
That would eliminate nearly all forms of investment available to normal people. We'd have a Chinese style real estate bubble.
@@briang4914 I wouldn't need to invest if I could afford rent.
@@briang4914 Can you elaborate on the Chinese real state bubble?
this channel is sooo brilliant! Love the balance of facts, commentary & humor!
When i was getting my masters in finance i was interested in PE. Then i didn't get a call back from any of the investment banks i applied to so i decided it was terribly unethical
Did you've any internships?
I didn't realize that the competition to be a physical education teacher was that cutthroat.
I have gained free knowledge AND had a good laugh while doing it… college is a scam
I dont like degree inflation but i wouldnt say college is a scam for everyone, i do think the idea that everyone must go to college is well not a scam exactly but a pretty shitty idea.
Smile200-z4y
Eh, we should make it so everyone can go to college affordabley.
Yeah, some people should probably do Trades, but having an edcuated Citizenrey is beneficial in the long term.
Well, that was depressing. More please!
Thanks for spreading the word about the shadow leeches
14:34 - I think the big thing to mention is that private equity funds can have misleading returns because their investments are illiquid and don’t have a ready market for them to assess fair value. If you have stocks, you can easily say year to year that you’re up or down xx%. It’s not possible to do this accurately for companies that you hold for 5 years (hence why PE firms express their returns in IRR which can be misleading to compare to annualized returns of a public index)
You should do comercial law firms that provide "'corporate service'". Firms like Mossack Fonseca from Panama's Papers
Ahh yes, the people that will take your money and hide it for you no matter how dirty it is lol (drug cartels, corrupt politicians, and terrorist organizations). I know all too well about Mossack Fonseca because I lived in Panama for 12 years. Only a year after I moved back to the US, the Panama Papers story broke.
This is simply perfect. I really hope this will reach people who otherwise may not have had a clue about the implications of private equity. I think it's something to be feared, and it's insane that it's taken *this* long for the SEC to do anything about it - without them really doing shit anyway, because it's all too little *far* too late.
The editing for this is great!
I need a private equity firm to fund my education, and my ebay power ranger megazord buying habits.
The man watching you from the sign is, himself, the man who MADE private equity.
No you dont! Lol. They’re just screw you over and make you go bankrupt. No, what you need is to RUN a private equity firm. And then… throw a little cash over this way. Just a cool mill or so. I’m not greedy.
Thank you so much for this video but in these uncertain times it is more important than ever to have a solid understanding of how the government are still in charge of our wealth and manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional
Her name is “Selena-Nicole cefaloni can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I just Googled her name and her website came up right away. It looks interesting so far. I sent her an email and i hope she responds soon. Thanks
All I'm saying is invest in Guillotine producers.
I got leap call options on them!
Does subscribing to the Guillotine Channel count?
Wow! Dan you are starting to interview really really high profile people! My god you are good at good work! Good Work!
I'm glad we are on this topic. They are basically monopolies, but they way they are structured, they only need to buy a controlling share, not the whole thing
But the entire point of private equity is to eventually exit and sell their investments, they are not aiming to own firms forever and build monopolies
@@Blashmackyeah but who are they selling to eventually? Conglomerates
Roses are red,
Violets are blue,
Thank you to Dan,
The 43.54% private equity man and Morning Brew crew.
Genuinely mad it took THIS long for this guy to end up on my feed. Great work dude.
putting that journalisum major to use fr love the work man
It's pretty fucked up how PE buys a company to profit, but the company that got bought can now be in massive debt because of that
Think of it this way. It's harder to convince people they are in a lifelong servitude if it's their companies who are instead...
It's literally just an extra layer of abstraction to the exact same thing.
Then they have to offer lower quality or higher prices, then the customer has to cut spending or make more .... then the brick wall - low wages, no jobs. All ends with the majority getting stuffed.
Not really because if tht happens then the private equity firm makes a loss and the bank tht gave the loan lol
I think people just want to be upset by things they don't understand
That guy by the Blackstone sign staring you down should be a reoccurring subject in these videos
5:00 “Four score both ways” had me WHEEZING! I’m using that 😂
Oh hey there we meet again
@@MK-gm2mq Hello again!
i always wondered why there was not more of an uproar from all the "private" business's during lock down. they just took a year of two off while their small business competitors were decimated and/or gobbled up. got it now!
It is always good to have a financial plan. I work with a fixed income planner and portfolio manager in the USA. The fixed income portion of your portfolio won’t simply serve as a buffer to the volatility of the equity but will provide income.
I absolutely love the guy behind you at 3:30 with the Blackstone advert looking at you as you're running through the examples. I want to know what he was thinking.
What an astounding piece of investigative journalism.
This team is able to present such a gargantuan level of relevant, and in my opinion largely objective, information in a manner that is so accessible to both its intended and wider audience - truly a commendable feat. It has been nothing short of a pleasure to watch this team prosper.
We as the public have been taught to forget that the economy should serve the betterment of all, what use is improving gross GDP if our standards of living continue to fall?
The price of liberty is eternal vigilance, and the powers that be continue to hone their ability to obfuscate their influence, we should all be wary.
Thank you for shedding so much light on such a shaded yet encompassing element of our lives.
Bravo!
You know it's a banger when a trench coat-wearing journalist investigates shady financial practices.
P.S. It was a bummer, Dan, when I heard your breakup with Em Rata.
Dr Glock was an unexpected cameo
Omg how come your channel was recommended only now!!!! Where has this gem been hidden all this time!
This channel is really self explanatory. Good work productions
Dan is genuinely one of the funniest guys I've ever seen. Thanks for the laughs and the learnings. Keep up the Good Work.
I work with these PE firms on real estate aquisitions and it’s insane really. They will buy an asset at 50% inflated prices just to “manage” it. I’m talking about buying a apartment site for $150M when the real value is probably $100M. They would be 100% screwed if they were ordinary investors or normal investment funds but they don’t care what the true value is, they only care to “manage” the assets that they own for a fee.
Your videos are so dense with jokes I have to pause so many times to catch them all, and it’s worth it every time. You are a legend
"Its strange for something so big and controversial to be so back of mind for Americans. Its like mass shootings..."
Holy moly that is a hard line that made me both laugh and sad at the same time.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than money saved , when you invest it gives you the opportunity to increase your financial worth.
It is remarkable how much long term
advantage people like us have gotten by trying to be consistently not stupid,
instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
Many individuals report success in investing in stocks, forex, and cryptocurrency (Bitcoin), yet I continue to struggle. Can somebody help me out or advise me on what to do?
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
"Do we even know the type of capitalism we already have ?"
20 minutes long. Holy moly, time to grab my Blackstone-owned popcorn.
This is very well put together. I'm impressed by your humor. Moreover, you & your team have inserted meaningful props and transitions. My 2 faves were you walking up from the subway (emphasizing how you're like everyone else) and the silly kitty poster that says "hang in there." Your guest was clearly very passionate about the nefariousness of PE and that kitty was obviously a victim of the crumbling capitalist 'unfrastructure.' Bravo.
Amazing comedy and journalism. This is my second favorite channel behind RM Brown.
@16:09 😭😭😭
This channel is golden ! We must support this kind of journalism & protect this guy.
Edit : Let me put some respect on his name, Dan Toomey ! We must protect him.
So happy hasanabi played your vid on stream. Had no idea about your channel. You're my new favorite channel. Keep up the amazing work.
Fantastic video as always! Easily my favorite comedic news channel with a host wearing a trenchcoat.
I did not expect such quality journalism from Good work.
My favourite thing about these videos is the captions under Dan's name during the interviews, always top tier 👏
I used work in Evercare Hospital previously private owned, brought by vc funds and then it become a money siphoning machine. Doctors treats patient like cattles. Nurses & all staffs are short staffed.
The same thing happened in the 1990's with healthcare. All the managers that screwed up in the Savings and Loan scandal moved into being managers in healthcare. Took years and a lot of deaths to clean that mess up. Looks like it has been creeping in again in the last 5-10 years.
I absolutely love these guys. Content is always hilarious and serves as a a great gateway into doing more research on these interesting topics. I also ran into Dan and Henry near Union square and can vouch that they’re very cool people
Damn!
never expected a Glaucomflecken collab like this, love to see it !!
Hi Daniel. You're a very handsome gentleman. Thank you for putting your dashingly good looks on the line to produce this hard-hitting journalism.
Perfect blend of humour, super nice jornalism and trustworthy info. Love it!
Ah yes, so the smooth transition @ 5:05 was merely to prevent us from seeing that man stuff his privates with a whole lot of equity. Well done Dan and team for your cutting edge investigative reporting even in the face of horror.
Glaucomflecken and Dan Tooney was the collab I knew I wanted and needed
Great investigative journalism! Keep it up!
This has got to be some of the best journalism I've ever seen!
Just stumbled upon this channel....
S- class material right here.
Subscribed
Dan, thank you for your content. It’s top notch
Probably my favorite work from y'all so far! Keep it up
15:40 give my compliments to the video editor that used that gradient wipe.
This is like The Daily Show or other news/comedy shows that have their "field reporters". Incredible work, you're gonna make 1 million subscribers easy
The only good journalism left in this world
This video is unbelievable… but also gives me like absolutely no hope for humanity.
that was my takeaway as well. its worse than I thought
And we really pretend that voting will change anything substantial when systems like this exist.
If voting changed anything, they’d make it illegal
It's sad how some people seem to have no conscience 😢
the end result of "out of sight, out of mind"
End result of capitalism 🤷♀️
"I got mine fuck everyone else"
Now I understand “too big to fail” a little better.
All right, I appreciate this blend of information and comedy and a portrayal of journalists that doesn't seem like it's really been accurate since 1992. You get my subscribe.
Your signals are Very correct.Superb presetation.Easy to understand.
Learned more on this channel than in any Econ class I took
Not me.
That's the direction we all wanted this channel going to!. Watching this series slowly get more and more serious is brilliant..
The easygoing, entertaining, and informative quality of this video is impressive. I love the insight that we can get from these "mysterious" corporate entities that are casually explained to the audience. Keep it going @team goodwork!
Thank you for giving me a good chuckle while I give up on society!
The final confession sums it all up. You can hate it all you like, but you're mired knee-deep in it, and you can't escape!
I blame private equity for sucking the life out of so many companies for greed
The power of capitalism
@@LuisSierra42All just so they can make jobs for us 😇😇😇 #humble
And this is what they want to do with Social Security funds😔
Rick Scott’s plan