Is it correct to understand private equity as transferring service quality to the initial set of customers (who were subsidised) from the new customers who have to give up quality to make the whole venture feasible?
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In 1980s Reagan/Yuppie/money obsessed America these guys were considered scum. In 2025 'the line must go up' America they are everywhere and considered 'you just have to accept them as part of capitalism' (even though 1980s Reagan America rejected them.)