[robsh]

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%.

[blackeyeblitzar]

What we need are new antitrust laws, not only to breakup or tax megacorps, but also to breakup consolidation of control from investment firms (private equity but also others). Without this, there is no real fair playing field for competition.

[game_the0ry]

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.

[ryandrake]

> 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.

[carlosjobim]

Owners would never sell their business to young tradespeople for any less than twice the value. The hatred that the old have against the young is just too strongly ingrained.

They'll be fine with selling for much less to a "worthy" buyer though, such as a private equity firm.

[sudobash1]

That seems a very cynical view, and it doesn't ring true to me. Anecdotally, I know of multiple business that were built up by one person, and then practically gifted to the employees. Some people really care about the business, customers, and employees.