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Inside the heads of people who are always late, as explained by stick figures.

Everyone knows a person like this or is one themselves!

relationships, brain, time

I’m late.


This post was written by Tim Urban and originally published on Wait But Why.

I woke up this morning to a text. It was a link:

"optimistic-people-have-one-thing-common-always-late.”

Intriguing. Nothing's better than the headline: "The reason people are [bad quality that describes you] is actually because they're [good quality]."

I got to reading. And as it turns out, according to the article, late people are actually the best people ever. They're optimistic and hopeful:

"People who are continuously late are actually just more optimistic. They believe they can fit more tasks into a limited amount of time more than other people and thrive when they're multitasking. Simply put, they're fundamentally hopeful."

They're big-thinking:

"People who are habitually late don't sweat over the small stuff, they concentrate on the big picture and see the future as full of infinite possibilities."

Late people just get it:

"People with a tendency for tardiness like to stop and smell the roses…life was never meant to be planned down to the last detail. Remaining excessively attached to timetables signifies an inability to enjoy the moment."

By the end of the article, I had never felt prouder to be a chronically late person.

But also, what the hell is going on? Late people are the worst. It's the quality I like least in myself. And I'm not late because I like to smell the roses or because I can see the big picture or because the future is full of infinite possibilities. I'm late because I'm insane.

So I thought about this for a minute, and I think I figured out what's going on. The issue is that there are two kinds of lateness:

1. OK lateness. This is when the late person being late does not negatively impact anyone else — like being late to a group hangout or a party. Things can start on time and proceed as normal with or without the late person being there yet.

2. Not-OK lateness. This is when the late person being late does negatively impact others — like being late to a two-person dinner or meeting or anything else that simply can't start until the late party arrives.

John Haltiwanger's Elite Daily article is (I hope) talking mostly about OK lateness. In which case, sure, maybe those people are the best, who knows.

But if you read the comment section under Haltiwanger's article, people are furious with him for portraying lateness in a positive light. And that's because they're thinking about the far less excusable not-OK lateness.

1. OK lateness. This is when the late person being late does not negatively impact anyone else — like being late to a group hangout or a party. Things can start on time and proceed as normal with or without the late person being there yet.

2. Not-OK lateness. This is when the late person being late does negatively impact others — like being late to a two-person dinner or meeting or anything else that simply can't start until the late party arrives.

John Haltiwanger's Elite Daily article is (I hope) talking mostly about OK lateness. In which case, sure, maybe those people are the best, who knows.

But if you read the comment section under Haltiwanger's article, people are furious with him for portraying lateness in a positive light. And that's because they're thinking about the far less excusable not-OK lateness.

All of this has kind of left me with no choice but to take a quick nine-hour break from working on a gargantuan SpaceX post to discuss not-OK late people.

When it comes to people who are chronically not-OK late, I think there are two subgroups:

Group 1: Those who don't feel bad or wrong about it. These people are assholes.

Group 2: Those who feel terrible and self-loathing about it. These people have problems.

Group 1 is simple. They think they're a little more special than everyone else, like the zero-remorse narcissist at the top of Haltiwanger's article. They're unappealing. Not much else to discuss here.

Punctual people think all not-OK late people are in Group 1 (as the comments on this post will show) — because they're assuming all late people are sane people.

When a sane person thinks a certain kind of behavior is fine, they do it. When they think it's wrong, they don't do it. So to a punctual person — one who shows up on time because they believe showing up late is the wrong thing to do — someone who's chronically late must be an asshole who thinks being late is OK.

But that's misunderstanding the entire second group, who, despite being consistently late, usually detest the concept of making other people wait. Let call them CLIPs (Chronically Late Insane Persons).

While both groups of not-OK late people end up regularly frustrating others, a reliable way to identify a Group 2 CLIP is a bizarre compulsion to defeat themselves — some deep inner drive to inexplicably miss the beginning of movies, endure psychotic stress running to catch the train, crush their own reputation at work, etc., etc. As much as they may hurt others, they usually hurt themselves even more.

I spent around 15% of my youth standing on some sidewalk alone, angrily kicking rocks, because yet again, all the other kids had gotten picked up and I was still waiting for my mom. When she finally arrived, instead of being able to have a pleasant conversation with her, I'd get into the car seething. She always felt terrible. She has problems.

My sister once missed an early morning flight, so they rescheduled her for the following morning. She managed to miss that one too, so they put her on a flight five hours later. Killing time during the long layover, she got distracted on a long phone call and missed that flight too. She has problems.

I've been a CLIP my whole life. I've made a bunch of friends mad at me, I've embarrassed myself again and again in professional situations, and I've run a cumulative marathon through airport terminals.

When I'm late, it's often the same story, something like this:

I'll be meeting someone, maybe a professional contact, at, say, a coffee place at 3:00. When I lay out my schedule for the day, I'll have the perfect plan. I'll leave early, arrive early, and get there around 2:45. That takes all the stress out of the situation, and that's ideal because non-stressful commutes are one of my favorite things. It'll be great — I'll stroll out, put on a podcast, and head to the subway. Once I'm off the subway, with time to spare, I'll take a few minutes to peruse storefronts, grab a lemonade from a street vendor, and enjoy New York. It'll be such a joy to look up at the architecture, listen to the sounds, and feel the swell of people rushing by — oh magnificent city!

All I have to do is be off the subway by 2:45. To do that, I need to be on the subway by 2:25, so I decide to be safe and get to the subway by 2:15. So I have to leave my apartment by 2:07 or earlier, and I'm set. What a plan.

Here's how it'll play out (if you're new to WBW, you're advised to check this out before proceeding):

lateness, behavior, science

Making plans on time.

psychology, procrastination, patient

Maybe some procrastination.

avoidance, mental health, mistakes

Avoiding the issues.

delay, loafing, trifling

Arguing over avoiding the issues.

toying, delaying, loitering

Some dawdling.

dabbling, frittering, dilly-dallying

Some more dawdling.

frizzling, puttering, excuses

And some lingering.

last-minute, slow, delayed

And some more lingering.

belated, tardy, jammed

Is this dragging my feet?

lagging, dilatory, unpunctual

This is dragging my feet.

held up, in a bind, missed the boat

This is becoming a problem.

tired, worn, strained

This is feeling uncomfortable.

thin, peaked, pinched

This IS uncomfortable.

fraught, haggard, worn

This IS a problem.

dependable, accurate, conscientious

But I’m cool.

periodic, timely, ready

So cool.

quick, reliable, heedful, meticulous

Ice cold like a fighter pilot.

minutes, seconds, careful

I’m a chillin’.

lag, postpone, setback

Now worries my way.

stoppage, filibuster, hindrance

Not thinking about it.

bind, lingering, tarrying

Positive thoughts.

stoppage, difficulty, gridlock

Positive action... well now.

obstinate, customs, method

It will all workout.

madness, mental health, regulations

Maybe I’m gonna be late.

anxiety, despair, dismay

I’m gonna be late.

aversion, disquiet, distress

Oopsie.

fearless, logjam, impasse

And that’s the traffic.

furious, frantic, rash, audacious

It’s the traffics fault.

careless, foolhardy, hopp

This map is broken.

denial, circumstances, schedule, madcap, impetu

Perfect timing on being late. Nailed it.

CLIPs are strange people. I'm sure each CLIP is insane in their own special way, and to understand how they work, you'll usually have to get to some dark inner psychology.

For me, it's some mix of these three odd traits:

1. I'm late because I'm in denial about how time works.

The propensity of CLIPs to underestimate how long things take comes out of some habitual delusional optimism. Usually what happens is, of all the times the CLIP has done a certain activity or commute, what they remember is that one time things went the quickest. And that amount of time is what sticks in their head as how long that thing takes. I don't think there's anything that will get me to internalize that packing for a weeklong trip takes 20 minutes. In my head, it's eternally a five-minute task. You just take out the bag, throw some clothes in it, throw your toiletries in, zip it up, and done. Five minutes. The empirical data that shows that there are actually a lot of little things to think about when you pack and that it takes 20 minutes every time is irrelevant. Packing is clearly a five-minute task. As I type this, that's what I believe.

2. I'm late because I have a weird aversion to changing circumstances.

Not sure what the deal is with this, but something in me is strangely appalled by the idea of transitioning from what I'm currently doing to doing something else. When I'm at home working, I hate when there's something on my schedule that I have to stop everything for to go outside and do. It's not that I hate the activity — once I'm there I'm often pleased to be there — it's an irrational resistance to the transition. The positive side of this is it usually means I'm highly present when I finally do haul my ass somewhere, and I'm often among the last to leave.

3. Finally, I'm late because I'm mad at myself.

There's a pretty strong correlation here — the worse I feel about my productivity so far that day, the more likely I am to be late. When I'm pleased with how I've lived the day so far, the Rational Decision-Maker has a much easier time taking control of the wheel. I feel like an adult, so it's easy to act like an adult. But times when the monkey had his way with me all day, when the time rolls around that I need to stop working and head out somewhere, I can't believe that this is all I've gotten done. So my brain throws a little tantrum, refusing to accept the regrettable circumstances, and stages a self-flagellating protest, saying, "NO. This cannot be the situation. Nope. You didn't do what you were supposed to do, and now you'll sit here and get more done, even if it makes you late.”

So yeah, that's why I'm late. Because I have problems.

Don't excuse the CLIPs in your life — it's not OK, and they need to fix it. But remember: It's not about you. They have problems.


This article originally appeared on 04.07.16








bee gees, how deep is your love, bee gees live

The Bee Gees singing "How Deep is Your Love" in 1998.

Not all live performances are created equal, but when the circumstances and the talent are just right, they can far surpass studio recordings. In 1998, the Bee Gees, brothers Barry, Robin and Maurice Gibb, stopped by ITV’s “Des O'Connor Tonight” with acoustic guitars in hand to promote their recent release, “One Night Only,” an album and live concert DVD featuring many of the band’s biggest hits.

The highlight of the performance was when Barry got ready to strum his guitar for a performance of “How Deep Is Your Love,” the 1977 megahit from the “Saturday Night Fever Soundtrack,” but instead chose to sing the song a cappella.


Barry starts the song solo in his beautiful falsetto, but then, when his brothers join him, they create a wonderful harmony that only brothers can make. The show’s host, Des O’Connor, a notable singer himself, even joins in for a few bars.

- YouTube youtu.be

Earlier in the performance, the brothers played their version of “Islands in the Stream,” a song made famous by Dolly Parton and Kenny Rogers in 1983 that was written by the Bee Gees. In 1998, the song was enjoying a resurgence as its melody was used in the song “Ghetto Supastar” by Pras of The Fugees.

Robin Gibb later admitted that the song was initially written for Marvin Gaye to sing, but he was tragically murdered in 1984 by his father. The band also had Diana Ross in mind while composing the tune.

During the appearance, the band also sang “Guilty,” a song that the Bee Gees wrote for Barbara Streisand and Barry produced in 1980.

You can watch the entire performance here:

- YouTube youtu.be

The Gibb brothers started making music together when they were children, and after their first public appearance together at a local movie theater in 1956, they were hooked on performing.

“It was the feeling of standing in front of an audience that was so amazing," said Barry. "We’d never seen anything like it. We were very young, but it made an enormous impression. We didn’t want to do anything else but make music.”

After the family moved to Australia in 1958, Barry, Maurice, and Robin were "discovered" at the Redcliffe Speedway, where they had asked to perform between races. Even over the tinny PA system, their harmonies made an impression. Speedway manager Bill Goode introduced the trio to DJ Bill Gates, who set them up with a recording session.

the bee gees, gibb brothers, maurice, barry, robin gibb Stayin Alive GIF by Bee Gees Giphy

If you've ever wondered how the Bee Gees got their name, that was it: Bill Goode, Bill Gates, Barry Gibb, and the brothers' mother Barbara Gibb all had the initials B.G. After a strong reception on the airwaves in Brisbane, Gates forwarded the brothers' recordings to a Sydney radio station. They got a lot of airtime there as well, and the band had a run of success performing in Australia, but it wasn't until their return to England in 1967 that they became the international sensation we all know today.

Manager Robert Stigwood had received tapes from the Gibbs brothers and called them up within weeks of their arrival in the U.K.

“I loved their composing,” Stigwood told Rolling Stone in 1977. “I also loved their harmony singing. It was unique, the sound they made; I suppose it was a sound only brothers could make.”

- YouTube www.youtube.com

And, as they say, the rest is history. The award-winning 2020 HBO documentary, "The Bee Gees: How Can You Mend a Broken Heart" tells the story of the band with loads of footage from throughout their 40-year career, which includes not only their disco-era fame, but the various phases of their musical journey and the countless songs they wrote for other artists.

As one commenter wrote, "People that call the Bee Gees a 'disco group' don't have a clue. They had 10 albums out before they ventured into 'disco.' Their song catalogue is amazing and some of their very best songs were written long before Saturday Night Fever. Those 'disco' songs are classics as well. It is nice to see they are finally getting the recognition they deserve."

This article originally appeared last year. It has been updated.

miscarriage, miscarried, pregnancy loss, miscarriage support, grief, grieving

Mom who went through miscarriage shares advice on how people can comfort women dealing with pregnancy loss.

The pain of miscarriage and pregnancy loss is a reality for many women. According to the Cleveland Clinic, 10-20% of pregnancies result in miscarriage. One mom who has walked through pregnancy loss is helping others.

Annie (@seasonsofanniebakery), a mom and baker in College Station, Texas, has opened up on her grief journey following four miscarriages. These experiences led her to create resources for other women struggling with grief following pregnancy loss. She created a video series for family and friends of women going through pregnancy loss (that can also be applied to general grief) on helpful things they can both say and do to help.


She explains her first tip, which is: "Lots of people got really weird around me after my babies died," before adding: "Don't ask how they are for at least a month. They are not good."

Then she offered an additional list of 24 more helpful phrases and actions to say or do instead. These include:

  • I'm so sorry.
  • I love you.
  • I'm thinking about you.
  • Ask if they want to talk.
  • Listen to what they respond.
  • Ask what their favorite memory of the person who died is.
  • If it was a baby who died, ask about their favorite memory of their pregnancy. Annie added in the comments, "Seriously - I get asked to share about my living daughter’s birth story often, but never the others, & I have cool stories I like to remember!"
  • I'm dropping off your favorite drink and snack.
  • Drop off a care box.
  • Say you're about to order takeout from their favorite restaurant and ask what they want.
  • If you're religious tell them you're praying for them, but don't be condescending about it.
  • Don't expect to be invited in. But be available if they want you to come in.
  • If you do get invited in, let them take the lead.
  • Hug them if they like hugs.
  • Sit with them.
  • Talk to them like you always do. Don't get a weird tone.
  • The sympathy face is the worst. Obviously they're sad, and you're sad for them. But don't gaze at them in pity. Try to have a normal face.
  • Remember they are not stronger than you are. If you were forced into this reality, you would figure it out.
  • Suggest a few shows or movies you could watch together.
  • Bring over your favorite lighthearted books to distract them if they like to read.
  • Write a letter if you really can’t help yourself and need to make it about you. That way they have the option to read it or not and if they hate what you wrote, they can rip it in a billion pieces.
  • Absolutely do not tell them that God needed another angel under any circumstances. Just don't.
  • Share a memory of the person who died if you knew them.
  • Tell them you'll keep checking in on them and do it. Even if you don't always hear back. You'll need to hold up the friendship for a bit. Don't expect your friend to be a great friend while they're falling apart.
The post garnered emotional responses in the comments from many viewers.

One shared, "Such helpful tips with so many life situations. Thank you and I’m so sorry. I was told with my one and only pregnancy/ miscarriage was: 'You were barely even pregnant.' It was so hurtful. I prayed for my pregnancy, I wanted that baby. I had a special drawing made on my wall that reads; Anything worth having, is worth waiting for. I have to constantly remind myself of this. ❤️ 🫶🏼 ❤️🙌"

Another wrote, "Oh this made me cry 😭❤️ Thank you for posting this," while another shared, "You nailed it with all these tips.❤️"
great depression, the great depression, great depression recipes, great depression food, great depression recipe
Lewis Wickes Hine/Library of Congress, Dorothea Lange/Wikipedia

Recipes from the Great Depression to make today.

The Great Depression, which lasted from 1929-1939, caused economic turmoil worldwide. Families struggled to feed themselves, and went to extreme lengths to stretch food and utilize all available ingredients.

Known as the Greatest Generation (those born between 1901 and 1927), their resourcefulness resulted in a number of creative (and delicious) recipes that remain relevant today. Home chefs and bakers shared their Great Depression recipes on Reddit that have been passed down and are still enjoyed today to help others get inventive and save money.


From soups and stews to cakes, these are 17 Great Depression recipes to try.

- YouTube www.youtube.com

Soups, Stews and More

Beef and Noodles

"My grandmas go to: Bag of egg noodles 1 can of creamed corn 1 can Campbells chicken noodle soup 1 lb ground beef. Salt and pepper to taste. Brown ground beef, add all other ingredients, add enough water or light chicken stock to cover noodles if needed. Bring to boil, and reduce to a simmer for about 15 minutes, take off the heat and let it rest 10 minutes before serving with buttered white bread. I still make this to this day. My kids loved it too. Basically homemade Hamburger Helper." - -__Doc__-

Hoover Stew

Ingredients

1 box noodles
A can of tomatoes
1 package of hot dogs, or 1 can of sausage or meat
A can of corn, peas or beans
2-4 cups water

Instructions

"Mix all ingredients together in a pot until boiling. Then simmer for 15-20 minutes until the noodles are tender. If you have aromatics, onion and garlic would be a great addition. If not, the recipe is great as is." - Josuaross54

Zaprezna soup

"Depression soup... make a roux, add salt pepper and caraway seeds. Add water to make a thick soup texture. Use an egg or two mixed with flour and salt pepper and mix together to make dumplings.. drop into the soup to cook.. This was called zaprezna soup or depression soup. We ate it often in the 60's after my dad abandoned us. Money was short but this soup was good." - User Unknown

Chipped Beef On Toast

Ingredients

8 oz. dried beef jerky
2 tbsp butter or oil
4 tbsp flour
4 cups milk
Salt and pepper to taste
Sliced homemade bread, for serving

Instructions

"Add jerky and oil to a pan over medium heat. Cook until the meat softens, about 3-4 minutes. Stir in your flour and cook for 1-2 minutes. Add milk and bring to a low boil. Allow sauce to thicken for up to 5 minutes. Season with salt and pepper if you have it. Serve over homemade bread, toasted if desired." - Josuaross54

Rivel Soup

"In Ohio…My mom would cook Rivel Soup when I was a kid in 80s and 90s. She still makes it. It’s milk based with flour dough balls in it. I hate it. Sometimes they would fry potatoes and put them in the soup." - Vegetable_Record_855

Potato Soup

Ingredients

4 large potatoes, peeled and sliced (or 2 cans of potatoes)
2 garlic cloves, chopped
One carrot, sliced
A can of meat, sausage, or hot dogs (optional)
3 cups water or stock
3 cups milk
Any herbs you have on-hand
Salt to taste

Instructions

"Slice all your potatoes, garlic, and carrots. Add to a soup pot with the meat, water, and milk. Bring to a boil and reduce the heat, keeping the mix at a low simmer. Then, cook for 30 minutes until all veggies are tender. Add herbs and salt, if using. Serve hot." - Josuaross54

Tuna Fish Stew

"My mother's family always made tuna fish stew. It is celery, potatoes, canned tuna fish, milk, and hard boiled eggs. Sautee the celery until half way cooked, throw in some chopped potatoes and water. Cook until the potatoes are done. Thin the stew with some milk. Throw in chopped hard boil eggs. Salt and pepper to taste Serve over stale bread. It was cheap, quick, and really filling." - RoseNoire4

@foodwanderer

Great Depression Cooking Recipe #greatdepression #recipe #cooking #frugalmeals #cookingonabudget #nostalgia #friedpotatoes #hotdogs #foodwanderer #tastetest #SplashSummerVibe

Sides

Baked Beans

Ingredients

1 package soaked dried beans, or 2 cans of beans
One tomato, chopped
1 onion, chopped
2 cloves garlic, chopped
2 tbsp lard
Two tbsp molasses
One cup water

Instructions
"Soak your beans, if using dried, overnight and drain the liquid. Prepare your veggies by chopping. Omit any vegetable that you do not have on-hand. Add lard to a stock pot and cook your vegetables until tender. Add the beans, molasses, and water. Cook all together with a lid on for 2-3 hours or until the beans have your desired consistency. Add more water if needed.

Milk Potatoes

"Milk potatoes. Fry sliced potatoes with salt, pepper and a bit of onion until almost done. Pour milk over potatoes and simmer until potatoes are cooked through." - kms811•6y ago

Ash Cakes

"Ash cakes got their name because different renditions are cooked in the hot white ash of your campfire. These are only 3 ingredients but are filling and have a great texture.

Ingredients

½ cup cornmeal
1 cup meat stock or water
2 tbsp lard or grease

Instructions
Mix both ingredients together in a bowl and allow to sit overnight to hydrate the cornmeal. Pat into a bread pan and refrigerate or add to your cool storage before allowing to set up. The next day, slice into 1-inch slices and fry in melted lard. Serve hot and crispy." - Josuaross54

Sweets

Potato Donuts

"Potato donuts 🍩 from depression era cooking with Dylan Hollis." - BainbridgeBorn

Wacky Cake

"If you have interest in baking, make a wacky cake. It’s a chocolate cake that has no milk, butter, or eggs, because those items were scarce during the Depression, but it is so good! The recipe I linked has more steps, but I’ve known a lot of people to literally just dump and mix everything in the baking dish." - gwhite81218

@bdylanhollis

The cake without butter, eggs or milk #baking #vintage #cooking #cake

Rice Pudding

Ingredients

1 cup rice
2 cups milk
2 tbsp butter
3 tbsp honey, maple syrup, or molasses
Pinch of cinnamon

"Combine all ingredients in a small saucepan and cook over low heat, about 20 minutes, stirring frequently. Taste for doneness and cook an additional 5 minutes, tasting until desired consistency. Serve warm." - Josuaross54

Tomato Soup Cake

"Tomato soup cake." - AxelCanin

Water Pie

"Water pie 😋😍." - AxelCanin

Mock Apple Pie

"There was a thing for 'apple' pie made with Ritz crackers my grandmother made some time ago (she was born 1901 so def Depression life).https://www.allrecipes.com/recipe/9545/mock-apple-pie/ That recipe looks more complicated than the one grandma made, but there are a number of recipes online for it, including one made by Ritz, on the box." - User Unknown

Hard Time Pudding

"Batter: 1 cup flour
1/2 cup white sugar
1/2 cup raisins (Optional, I hate them)
3 tsp Baking powder
1/2 cup water
Syrup: 1 1/2 cup Brown sugar
1 TBSP. butter/marg.
1 tsp vanilla
1 1/2 - 2 cup water

Mix together flour, sugar, raisins, Baking powder, and water. Pour into a baking dish. In a sauce pan combine brown sugar, butter, water bring to boil then add vanilla and pour over the batter. Bake at 300 º for 1/2 hour." - MsBean18

Culture

Former corporate strategist reveals the real reason all Millennials' favorite stores are gone

Toys R Us, KB Toys, Party City, Red Lobster... it's all the same story.

economy, business, stores, private equity, capitalism, jobs, layoffs, nostalgia, millennials, 2000s

A lot of the most popular stores from the 2000s are closing up shop. But it's not just because time passed them by.

Remember Party City? In the early 2000s, it was the place to buy Halloween costumes, birthday party decorations, or helium balloons. Sadly, Party City filed for bankruptcy in recent years and closed the last of its stores in early 2025. The move took a lot of people who still enjoyed shopping there by surprise.

If it feels like Party City isn't the only mainstay business Millennials grew up frequenting that's shut down lately—and that's because it's not. Other big nostalgic chains that have all-but closed up shop in recent years include Toys R Us, KB Toys, Red Lobster, Joanne's Fabrics, TGI Fridays, Hooters, Big Lots, Kmart, Sports Authority... the list goes on and on and on.


economy, business, stores, private equity, capitalism, jobs, layoffs, nostalgia, millennials, 2000s A nearly empty Party City parking lot.By Mike Kalasnik/Wikimedia Commons

A lot has changed in recent years, certainly. The pandemic permanently altered our in-person shopping habits and, of course, more and more of us are shopping online. Why go to a store when Amazon can bring anything to your doorstep in just two days? That shift has made it hard on a lot of businesses that were popular in the early 2000s.

But Americans, collectively, didn't just decide to stop going to stores and restaurants. In fact, younger generations surprisingly prefer in-store shopping to online.

So, why are Toys R Us and Party City gone? Why has Red Lobster's Endless Shrimp finally come to an end? It would be an oversimplification to say these business failed and that time passed them by, an explanation that's missing one crucial factor: Private equity.

Sometimes these business were in trouble before shutting down. Sometimes, they weren't, or maybe could have adapted to modern times if given the chance.

David Lu, a former corporate strategist with Capital One, now makes informative TikTok videos where he breaks down complex historical and geopolitical topics in a way that anyone can understand. He recently tackled this exact problem.

Lu explains that there's a lot of financial trickery involved but essentially the process (at its worst) goes something like this:

  • Private equity firm wants to buy a business for a huge sale price
  • That price is contingent on the business taking on massive loans and debt
  • The private equity firm milks as much profit as possible from the business, by slashing costs and quality and driving up prices
  • The business, saddled with unmanageable debt and a cratering reputation, eventually declares bankruptcy and closes its doors
  • Private equity firm, owners, and CEOs make a fortune while stores close and workers lose their jobs
"A lot of problems in this country can be traced back to private equity," he claims, "including unaffordable housing, unaffordable healthcare, and mass layoffs."


@david_the_greatest_

**Some FAQ based on the comments: I didn’t mention these points in the video to keep it simple and to the point, but if you’re curious, feel free to read: 1.) When Carlyle was buying ManorCare in 2007, why was ManorCare valued at $5-6B if its real estate assets were already worth $6B? - ManorCare’s assets (real estate) are only one part of the company’s equity value. You have to subtract liabilities as well, which included $1.9B of debt - The company’s equity value isn’t always the same as the company’s actual valuation. The actual valuation can vary based on somewhat subjective analyst estimates, but it’s typically calculated as a multiple of the company’s annual earnings, adjusted by how much investors believe the company will grow or shrink. This multiple is typically 15-20x, and is called a PE ratio. In ManorCare’s case, its 2006 pre-tax income was $266.6M, so if we assume a PE ratio of 20 (meaning the company is valued at 20x earnings), we get a valuation of $5.3B. 2.) During the process of Carlyle buying ManorCare, how did ManorCare borrow $5B from the bank, and just gift it to Carlyle? It’s essentially written in the contract of this deal, which is called a leveraged buyout. Carlyle won’t make the deal unless ManorCare accepts that it will borrow $5B from the bank and allow Carlyle to “count” that as Carlyle’s payment. ManorCare’s shareholders are ok with this, because they’ll still get their $6B and walk away happy, so they force ManorCare to do this. This is the basic concept that the parties are agreeing to, but the exact logistics of how this is legally executed are: - Carlyle sets up a shell company to buy ManorCare - The shell company signs loan agreements with the banks - When the deal closes, the debt gets “pushed down” from the shell company to ManorCare - Now ManorCare has the $5B (which got borrowed from the bank), plus Carlyle throws in an extra $1B, and uses this $6B to pay the shareholders 3.) Why would the bank lend a whopping $5B to ManorCare in the first place? Because ManorCare’s $6B of real estate was provided as collateral. The bank knew it could get its $5B by taking this collateral. 4.) How could Carlyle force ManorCare to sell its $6B of real estate if that real estate was used as collateral for the $5B bank loan? This gets somewhat complicated, but basically: - By the time of this $6B real estate sale, ManorCare’s $5B of debt wasn’t owed to the same creditors who lent them the money in the first place - It was sliced up and sold to a larger pool of creditors - For some of those creditors who were entitled to collateral, ManorCare agreed to 1.) pay off a portion of the debt right away 2.) give the creditors a a portion of ManorCare’s future operating cash flow as collateral - Some of the creditors were bondholders, and they aren’t entitled to collateral - And for the largest creditor, HCP, it owned $1.7B of ManorCare’s debt, but HCP itself would be the one who bought ManorCare’s $6B of real estate, so the $1.7B was deducted from the sale price 5.) During bankruptcy, how do the bankers, who are “first in line to get their money back”, actually get that money back? The creditors get their money back mostly because they can take the collateral (which got complicated, as mentioned above) and sell it. The bondholders mentioned above do lose their money, however. Basically - my point with this section is that in a bankruptcy, the creditors are always prioritized in getting their money back, but the workers are not. The workers are left with nothing. For example, in the Toys R Us bankruptcy, the creditors ended up being fine, but there were 30,000 workers who lost their job, and they weren’t paid any severance - even though the company policy explicitly said they were entitled to it. In some bankruptcies in the United States, unpaid wages are even ignored. #corporategreed #privateequity #costoflivingcrisis

To make his point, Lu references the infamous case of senior living facility brand ManorCare. An essay in the New York Times explains exactly how selling to a private equity firm rapidly destroyed the company, and worse, hurt the seniors who lived there:

"In 2007, Carlyle—a private equity firm... bought HCR ManorCare for a little over $6 billion, most of which was borrowed money that ManorCare, not Carlyle, would have to pay back. As the new owner, Carlyle sold nearly all of ManorCare’s real estate and quickly recovered its initial investment. This meant, however, that ManorCare was forced to pay nearly half a billion dollars a year in rent to occupy buildings it once owned. Carlyle also extracted over $80 million in transaction and advisory fees from the company it had just bought, draining ManorCare of money.

"ManorCare soon instituted various cost-cutting programs and laid off hundreds of workers. Health code violations spiked. People suffered. The daughter of one resident told The Washington Post that 'my mom would call us every day crying when she was in there' and that 'it was dirty — like a run-down motel. Roaches and ants all over the place.'"

A few years later, ManorCare filed for bankruptcy while the Carlyle firm made out like bandits.

private equity, finances, business, ownership, money Media headlines from recent years sounding the alarm on PEScreenshot from Evan Porter

Party City is a perfect example of this same ruthless profit-seeking strategy in action.

CNN reported the company had a staggering $1.7 billion in debt as of 2023 before filing for bankruptcy. If that seems like a ridiculous amount of debt for a store that sells paper plates and balloons, that's because it is. The founder of Party City later blamed private equity for the brand's collapse.

Red Lobster has the same story. The investors tried to blame it on the high costs of Endless Shrimp, but the restaurant was never going to survive paying exorbitant rents to its private equity firm for buildings it used to own.

Toys R Us? Yep, you know the tale.

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To be fair, private equity doesn't ruin everything. In fact, some of America's favorite institutions have been revived by the process when it works as intended.

Dunkin' Donuts was on the brink in 2005 before private equity investments helped its resurgence. The firm then exited and Dunkin' became public again. (Of course, now Dunkin' is owned by private equity once again.)

Blackstone, one of the biggest private equity firms in the world, revived a near-dead Hilton hotel chain into one of the top hospitality brands.

Even Party City was doing just fine with private equity investments for about a decade.

The idea is that struggling but well-established brands can take an infusion of cash to reinvest in the business, along with having a lot of seasoned strategists come on board to right the ship. The private equity firm will make money in the process, of course, but ideally they will exit and leave behind a thriving business—not a debt-ridden husk.

Ultimately, the world will probably be OK without Red Lobster and KB Toys. But people need—and want—places to go, places that have been around for years that we've come to know and trust.

According to RetailBrew, "29% shoppers said they were 'morally opposed' to shopping at Amazon, but 85% ended up purchasing something there anyway," in part due to a lack of other options.

Millennials and Gen Xers yearn for the days of walking around and touching things with our hands before buying them, talking to knowledgeable sales staff who could answer our questions, or having a sit down meal at a chain restaurant that didn't cost a fortune (if it included unlimited shrimp, all the better). The Economist reports that malls are making a comeback—only, mainstays like Claire's and Brookstone are dead (in large part because of... you guessed it).

It's fun to imagine a world in which Radio Shack could have evolved to thrive in the world of smart phones, or where we could still get a cheap pair of shoes at Payless instead of being limited to what the local Target has in stock.

That kind of thing is unlikely to happen while the private equity problem goes unchecked.

Bipartisan lawmakers have been eyeing tighter regulations on private equity firms for a while now, although progress is slow.

Long-established brands bringing in outside help and cash to adapt to the modern age could be a good thing, but there needs to be mechanisms in place that keep all of our favorite businesses from being bled dry.

But there's good news for the nostalgic among us: Toys R Us, for its part, is attempting a comeback this year. So is Payless. Here's a chance for Millennials to show that those nostalgic favorites never should have gone away in the first place.

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Photo credit: YouTube screenshot ('Jimmy Kimmel Live!')

Carol Burnett once shut down a rude ice-cream parlor employee with a well-timed quip.

Carol Burnett is a national treasure—one of the funniest and most charming humans in Hollywood. Given that she’s currently 92 and has been in the game since the late '50s, the actor-comedian has also amassed an enviable backlog of incredible stories she can tell at a moment’s notice. That’s part of what makes her the perfect guest for a late-night talk show—if she’s sitting on that couch, there’s a good chance you’re going to be entertained.

A quintessential example: her November 2025 appearance on Jimmy Kimmel Live!, promoting the second season of Apple TV+ series Palm Royale. The whole interview is lovely, as she talks with her close friend Kimmel about working with everyone from Sammy Davis Jr. to The Jackson 5. But the centerpiece is her nostalgic tale involving a rude hostess at an ice-cream parlor and some expertly delivered comeback "revenge."


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She just wanted a fancy ice-cream soda

The story takes place after Burnett earned her "big break" in the Off-Broadway musical comedy Once Upon a Mattress, which opened in 1959. At that point, she was earning $80 a week, which was a lot at the time. But for one of her first big splurges, she had modest goals: an ice-cream soda from a "very posh" New York City parlor called Rumpelmayer’s. "I’d always wanted [to go, but] it was very expensive," she told Kimmel. Joined by some of her cast mates, she passed through the doors with excitement—but then found herself in an awkward scene.

"We walk in, and it was myself and two guys," she said. "We’re looking around, and this woman comes up. She’s the hostess to hand out the menus, and she looked at me and said [dramatically], 'I beg your pardon! We have a dress code here, and we are not allowing women to come in wearing slacks!’ I had on slacks. All she had to do was say, 'Gee, I’m sorry, miss, but we have a dress code here. Here’s a mint—come back later.’ She said, 'You have a lot of nerve!' People were sitting around listening to that."

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How Carol Burnett disarmed anger with improv

Burnett recalled having walked by Rumpelmayer’s previously and spotting famous actress Marlene Dietrich inside, decked out in a "lovely pant suit." But that seemingly wouldn't have mattered to the hostess: "She was still yelling at me, and at once dead silence," Burnett continued. "And I said, just loud enough—I wasn’t yelling back, but just loud enough for everybody to hear—'I’m really so sorry…I have a wooden leg.' Some of the people looked at her and went 'Boo!' She led me over to the table, and I limped over to the table. Revenge never tasted so sweet."

It feels like a brilliant response in that very relatable situation. (Who among us hasn’t felt like we’re out of place in some kind of fancy restaurant or venue, even if that disconnect is all in our minds?) Burnett wasn’t rude; she didn’t even raise her voice, and still managed to disarm this person’s unnecessary hostility with a kind of inside joke. But since not all of us are improv masters, it’s worth considering professional tips on how to handle a rude comment. Back in August, communications expert Jefferson Fisher explained that one classic technique is to respond, at least initially, with 10 seconds of silence. It probably won’t get a laugh at an ice-cream parlor, but it might just defuse the tension.

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