Matt Levine’s Money Stuff: AI Is Bad at Snacks

AI rollup

People have been worried for a while about private equity buying up every company and coming to dominate the economy. “Private equity,” in this worry, tends to mean specifically the large private-equity firms that have their roots in doing leveraged buyouts of mature cash-flowing companies. But the fun hipster alternative is, what if venture capital buys up every company and comes to dominate the economy? Historically no one worried about that much, because historically venture capital was about making concentrated bets on small startups that might change the world, not about buying the local pest-control company or medical practice in every ...