private equity

“And there's going to be new capital approaches and new approaches kind of hybridizing tech and VCE and PE. That kind of say, yes, there is leverage in software, but we're not going to unlock it the way we've unlocked it over the last two years.”

“They've been doing the private equity, expand the SKUs, lower the quality thing for years.”

“And I mean, could spur like a legit M and A. Feast. I bet private equity is, like, already figuring this out. Like, which things to salvage and buy for, like, 10 cents on the dollar. Do, like, various roll-ups of these brands that were popular on TikTok. Reboo…”

“Literally people are buying HVAC companies for 12 times EBITDA. These are businesses that are like project based businesses, right? And now you're saying chapter seven liquidations of private equity backed HVAC things.”

“And so you sell a business to PE with ten million of EBITDA and you sell it again at 25 and you sell it again at 75 and then a 102 hundred. So you can have business that are for sale three, four times. And that means the day you close the transaction, the comp…”

“The returns are really bad now. And so for that's, again, the capital's argument, the returns are terrible now, generally. The median fund. There's obviously ours, right? So it's almost, it seems like it's become venture-like where you've got a top decile that…”

“What happened was in the NFL and a few other leagues, no individuals could afford them anymore. Like they ran out of people who had enough money who could buy them. And so they started lifting the rules so that private equity could buy in because they just wan…”