EPISODE · Jun 17, 2026 · 10 MIN
Private Equity’s Game of Musical Chairs
from Watchdog on Wall Street with Chris Markowski · host Finance, Investing, & Markets
LISTEN and SUBSCRIBE on:Apple Podcasts: https://podcasts.apple.com/us/podcast/watchdog-on-wall-street-with-chris-markowski/id570687608 Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i WATCH and SUBSCRIBE on:https://www.youtube.com/@WatchdogOnWallstreet/featured Chris revisits his concept of “Demonic Musical Chairs” to explain how private equity has reshaped modern business. From entrepreneurs building companies to cash out rather than build for the long term, to once-great businesses being loaded with debt and run into the ground, he examines the incentives driving today's deal-making culture. Chris argues that many private equity firms are now facing a reckoning as exits become harder, valuations come under pressure, and buyers disappear. While the fallout may create future opportunities for investors, the damage to businesses, consumers, and especially healthcare could be significant before the music finally stops.
What this episode covers
LISTEN and SUBSCRIBE on:Apple Podcasts: https://podcasts.apple.com/us/podcast/watchdog-on-wall-street-with-chris-markowski/id570687608 Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i WATCH and SUBSCRIBE on:https://www.youtube.com/@WatchdogOnWallstreet/featured Chris revisits his concept of “Demonic Musical Chairs” to explain how private equity has reshaped modern business. From entrepreneurs building companies to cash out rather than build for the long term, to once-great businesses being loaded with debt and run into the ground, he examines the incentives driving today's deal-making culture. Chris argues that many private equity firms are now facing a reckoning as exits become harder, valuations come under pressure, and buyers disappear. While the fallout may create future opportunities for investors, the damage to businesses, consumers, and especially healthcare could be significant before the music finally stops.
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Private Equity’s Game of Musical Chairs
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