Bad Company: Private Equity and the Death of the American Dream

Bad Company: Private Equity and the Death of the American Dream by Megan Greenwell

This is a "make you mad at private equity" book. It provides a few examples of private equity in low income apartments (in D.C. area), retail (Toys 'R Us), newspapers and rural hospitals (in Wyoming). It is easy to get mad and worked up about the cases. However, it feels like part of the story is missing.  All of these industries were distressed in some way. Did private equity just change the timelines for failure? Private Equity firms are big and seem to take advantage of a number of regulatory loopholes. However, most of the "solutions" advocated simply entrench them more in power. (See the case of healthcare that has become more and more expensive, consolidated and regulated at the same time.)

The book ends with some success cases. The Toys 'R Us workers were able to get a little bit of severance. A group in rural Riverton, Wyoming was able to get funding to open a new hospital. Though I do need to wonder how it will pan out? Will the deep pocketed hospital may be challenging. Would they just operate at a loss to kill the competitor, and then go back? The case of the housing is also challenging. Rent control is nice for those that get it. But it doesn't help those that still don't have a place to live. Renter unions may seem nice, but the problems spread across housing types. In Seattle, Bellweather housing is a nonprofit provider of affordable housing. Yet residents have a tenants union and have demanded better maintenance, security and keeping promises made to residents. Private equity may come in to real estate to earn money, but the problems are deeper. Enabling more 3-flats and other small multi-unit housing would make home ownership more affordable. However, we may be eliminating this path by creating universal rental regulations. A business with thousands of units can afford to deal with a few scofflaws, but a small time landlord will take a much greater hit. 

Number Go Up: Inside Crypto's Wild Rise and Staggering Fall

Number Go Up: Inside Crypto's Wild Rise and Staggering Fall by Zeke Faux

Crypto is not only the ultimate ponzi scheme, but it also contributes significantly to global warming. It relies on a publically viewable blockchain of all transactions, yet relies on anonymity. Many companies are based in lightly-regulated countries and have little security in place. There are hefty transaction fees involved. Since there is a blockchain involved, transactions tend to be slow. Some places have tried to allow bitcoin as legal tender, but it has not panned out well.

This book looks at the boom and bust of blockchain, with a focus on Tether and FTX. While FTX looked like the stronger company, it is Tether that is still around. The crypto is lightly regulated. Few people really understand how it works or how it will make money. (Some of explanations were that it would go up because it goes up.) People were taking the ride up, hoping to get out before it crashed. Some made money. Many lost money. Many developing countries rode the wave, such as the Philippines with crypto-based gaming add ons. That did not end very well. 

Is crypto ready to emerge from the ashes as a legitimate enterprise? Perhaps. However, it will likely be different players that do it.  

Supernova: Renegades Series, Book 3

In the third Renegades book, everything goes crazy. Nightmare's secret identity is found out. Then through subterfuge it is not. Then it is found out again. Allies keep shifting. The consequences keep getting bigger. Characters that seemed fairly balanced suddenly get really bad - and then they are killed. At all reaches a grand climax where all superpower disappear only to reappear dispersed through society. We also find out about a number of different relationships. People are their own worst enemies. People that were thought dead are actually not and are living right under each other's eyes. There is a tight interrelated connection between various characters.

It all feels like a mash up. The superhero concept is a lot like Brendan Sanderson's Reckoners series. The "one person can save the world" ending seems straight from any summer blockbuster. The underlying love story also seems familiar. Boy and girl have secrets. They secretly hate each other, yet are in love with each other. Sounds like a "You've Got Mail" double identity plot. The most originality is in the super powers. There are a lot of heroes and villains that  appear with a plethora of super powers. Alas, it feels like we have a couple of complex three-dimensional leads with a number of flat supporting characters. (The character of Honey was especially bizarre. Suddenly she turned really mean - only to be killed off.) The book is very neatly wrapped up at the end, yet keeps plenty of threads open for future extensions.

Archenemies: Renegades, Book 2

The second book in the Renegades series sees the main characters get closer together while their alter-egos get further apart. When they are on "official" superhero control, they have a budding romance that ramps up. However, they also both have "secret identities" that are intent on revenge. The romance dials up in the second book as does the conflict. There are new superpowers that show up, including one that lets people "see the good" in things. It seems a little far fetched that nobody would get a clue. (But, hey, what do you expect from a superhero book?) The end of this books dials up the drama and makes the third book a necessity.

Renegades

Renegades is set in a post-apocalyptic world where many "prodigies" have super powers. Some are born with the powers, while others get them later. The world had previously fallen apart during the time of anarchy. The "renegades" used their super powers to bring order to society. Now they are the celebrated law enforces. Anarchists are the "bad guys" in society. There are regular "renegade" tries for new people to join the ranks of the renegades.

Alas, things are not quite that simple. The book centers around "Nova". She lost her family and hates the renegades. She tried to bring them down as "Nightmare". However, she later pivoted and adopted the identity of "Insomnia" to become one of the renegades. She tries to bring them down from the inside, yet ends up falling for them instead. (Of course, there is a boy involved.) She is torn between her loyalties. She also discovers that things are not black and white. There is good and bad on both sides. There are also some bigger forces at play.

The story is in a similar vein of Brendan Sanderson's Calamity series. These are heroes that need to be discovered, yet still have many of the foibles of man. The book is somewhat on the longer side, but is fairly fast paced. It is a little confusing at first as the characters adopt multiple identities and switch loyalties. However, it gradually becomes clearer as the book progresses. At the end, it is still not certain which side you should be rooting for.