Episode 20: Private Equity vs. The Local: Inside a Debate on Ownership & Community with Maryann Feldman and Martin Kenney

In this episode of The Do Diligence Podcast, host Doug Lepisto sits down with two of the leading academic voices examining the real-world consequences of private equity: Maryann Feldman, Watts Professor of Public Policy and Management at Arizona State University, and Martin Kenney, Distinguished Emeritus Professor at University of California, Davis and Senior Project Co-Director at the Berkeley Roundtable on the International Economy.

The conversation centers on their recent book, Private Equity and the Demise of the Local, which traces how financialized ownership has reshaped industries, hollowed out communities, and shifted control away from place-based stakeholders. Drawing on decades of research, Feldman and Kenney unpack how private equity evolved from a restructuring tool into a dominant ownership model spanning manufacturing, healthcare, housing, childcare, media, and beyond — often with profound consequences for workers, patients, and local economies.

Together, they explore the mechanisms behind this shift: debt-driven acquisitions, consolidation, remote management, and incentives that prioritize rapid capital extraction over long-term stewardship.