Private equity is depicted as a ruthless, unstoppable force destined to slurp up every company in the country & bleed them dry. In reality, the industry made a huge mistake in 2022 by overvaluing their portfolio companies, and now they're desperate for a way out. Me and Moe Tkacik tell the story. 🧵
The key to understanding Trump II is that it’s an administration predicated on doing a national murder-suicide for the crime of embarrassing Trump in 2020
In David’s defense, the only reason he said that transphobes like JK Rowling are little whinging fuckers is because they are, in fact, little whinging fuckers.
The industry bought companies for too much money and made a bunch of bad loans. Now they’re scrambling to avoid the reckoning.
so cool that this administration was handed the basis for more or less an economic renaissance and instead they decided to shoot the global economy in the gut—and then the head—before killing the freedom of navigation for shits and giggles
Reconstructionist
One more pic from the incredible screening of LAST SUMMER with stars Barbara Hershey and Bruce Davison. Unseen in its original theatrical cut for over forty years - the new restoration is a revelation. The sold out Cinematheque audience was blown away.
New: The White House is signaling that reopening the Strait of Hormuz is not a must-have to end the Iran War, potentially setting the stage for Iran to continue to flex its strategic position over one of the world's busiest oil shipping channels for the foreseeable future
Over the years, the same people who have constantly proclaimed the best art to be art that’s personal (which I generally agree with) also want to insist that same art is also disconnected from the heart and soul of that artist and doesn’t represent them.
Which is it, guys?
It's quite funny how those in charge at Bluesky thought that the best thing to do for a site where nearly everyone regularly says, "Fuck AI" is to try to shove more AI down people's throats.
John Slattery in the Criterion Closet
“Never did I believe the author of ‘Hillbilly Elegy’ could possibly write a more glib and fraudulent book, but JD Vance has managed to offer me the first ‘Communion’ I’ve ever rejected. Every time I turned to a new page, I prayed it would be its last.”
Though I didn’t manage to work it into the piece, the Times in March 2007 had the least correct article I’ve ever read about the Great Financial Crisis - a guy saying that actually subprime loans were awesome and that they made the mortgage market “more perfect”
www.nytimes.com/2007/03/29/b...
time.com
Karoline Leavitt said reopening the Strait of Hormuz was not a "core objective" of winning the Iran War for President Trump.
As part of tomorrow’s newsletter (the subprime ai crisis is here!), I went and looked for people who didn’t think there was a housing bubble or credit bubble, and the winner of “best opinion at the best time” goes to this guy
