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America's new millionaire class: Plumbers and HVAC entrepreneurs

(www.wsj.com)
185 points hhs | 3 comments | 13 Oct 24 15:35 UTC | HN request time: 0.68s | source
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robsh ◴[13 Oct 24 16:40 UTC] No.41829425[source]▶
Millionaire class? The article describes a small business owner who wants to retire. Meanwhile, the private equity firms are going to monopolize the market and raise prices. Sadly, none of the 20 or 30 year olds who are actually doing the work will be able to buy out their owners business.

Any young tradespeople: form a coop and buy your bosses business. Better to be a 10% owner than 0%.

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1. game_the0ry ◴[13 Oct 24 16:58 UTC] No.41829565[source]▶
The private equity + consolidation part concerns me too. Bad for the customer and the next gen of small business owners.

I would expect those same PE companies to lobby for legislation to make it harder for new start up competitors to start.

We are stupid if we let this happen.

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2. ryandrake ◴[13 Oct 24 22:11 UTC] No.41832153[source]▶
> Bad for the customer and the next gen of small business owners.

Another example of the previous generation pulling up the ladder once they've reached the top. Sell the business to Private Equity (who will squeeze both employees and customers), flip everyone the bird, and parachute off to Florida to suck down Pina Coladas for the rest of your life.

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3. bluGill ◴[14 Oct 24 00:59 UTC] No.41833160[source]▶
The real question is how do we get the next generation to realiie they can start their own business and take all the money the private equity is trying to get.