For the last 20 years, private equity followed a simple formula: buy with leverage, cut costs, rely on multiple expansion, exit at a higher valuation. That playbook worked incredibly well. But it no longer does. In this episode, I break down why the old private equity model is structurally broken - not just cyclically - and why a new model is emerging. A model where cheap debt doesn’t save you, multiple expansion can’t be assumed, and real value creation matters more than spreadsheets. TI...
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For the last 20 years, private equity followed a simple formula: buy with leverage, cut costs, rely on multiple expansion, exit at a higher valuation. That playbook worked incredibly well. But it no longer does. In this episode, I break down why the old private equity model is structurally broken - not just cyclically - and why a new model is emerging. A model where cheap debt doesn’t save you, multiple expansion can’t be assumed, and real value creation matters more than spreadsheets. TI...
Today’s guest, David Dowda (Dowda Holdings), went from burned-out insurance salesman working 80-100 hour weeks to buying his first business doing just $30,000 a year - fully seller-financed. Ten years later, he owns nine companies across multiple industries - all acquired with zero outside equity and often minimal cash down. TIMESTAMPS 0:00 How he bought a $30k revenue business with zero cash down 3:00 Rolling up a beach town with chairs, linens, golf carts and a coffee shop 8:03 Buying a c...
Business Builders And Buyers (ex-HoldCo Builders)
For the last 20 years, private equity followed a simple formula: buy with leverage, cut costs, rely on multiple expansion, exit at a higher valuation. That playbook worked incredibly well. But it no longer does. In this episode, I break down why the old private equity model is structurally broken - not just cyclically - and why a new model is emerging. A model where cheap debt doesn’t save you, multiple expansion can’t be assumed, and real value creation matters more than spreadsheets. TI...
