The Private Equity Playbook: Instant Pot

Instant Pot didn’t just go bankrupt, it became another casualty of private equity’s complex financial maneuvers. In this episode of our series The Private Equity Playbook, host Manpreet Kaur Kalra and collaborator Anna Canning trace how one of the most beloved kitchen gadgets of the 2010s became a textbook case of everything private equity does to the things we own, the places we live, and the communities we call home. From its origins as an internet phenomenon to its collapse under millions in manufactured debt, the Instant Pot story hits every ingredient of the private equity recipe: roll-ups, debt-loading, dividend recaps, antitrust, factory closures, and even a bizarre MAGA branding scheme. We connect Instant Pot’s story to the shuttering of the Pyrex factory in Charleroi, Pennsylvania, anti-immigrant scapegoating during the 2024 election, and the increasingly surreal overlap between political influence, lobbying, and consumer brands. In this episode, we explore: What a dividend recapitalization actually is, and how private equity firms extract money from companies while offloading any financial risk. The use of private equity roll-ups – raising major questions about monopoly power and market concentration. How the closure of the historic Pyrex factory in Charleroi, Pennsylvania became a case study in capitalist scapegoating and racist political rhetoric. Why antitrust law often fails to stop private equity consolidation. The bizarre story of the MAGA Instant Pot, including the attempted launch of Trump-branded home goods, the role of lobbying firms amid looming antitrust scrutiny, and how an effort to curry political favor reportedly backfired into an intellectual property dispute with the Trump Organization. How public pension funds help finance private equity takeovers. 📌 Support the Podcast: Art of Citizenry is proudly independent. Support us as we critically explore, challenge, and unravel mainstream narratives by empowering listeners with accessible, nuanced perspectives. Contribute via PayPal: https://visit.artofcitizenry.com/paypal Become a Paid Subscriber on Substack: https://artofcitizenry.substack.com/ Follow the show on Instagram: https://www.instagram.com/artofcitizenry Follow Manpreet on Instagram: https://instagram.com/manpreetkalra For more, you can find the full show notes of every episode at https://www.artofcitizenry.com/episodes