A lot of the American economy before the rise of PE/VC systematization was “we are making so much money that we can leave a bit of it on the table to make customers feel good.” It worked!
The view now is that leaving even a single penny on the table is the greatest sin a company can commit.
Strahan Cadell 🇨🇦🇻🇦🇺🇦🇬🇱
Red Lobster was a victim of private equity enshitification. Anything good people like could be more profitably efficient for shareholders, in this case by making the restaurants pay rent they can't afford.
I wish anyone in charge of anything had to know, or be correct about, anything whatsoever.
When a private-equity firm bought the iconic seafood chain in 2014, it sold the real estate under the restaurants for $1.5 billion. Then the restaurants struggled to pay the rents.
