For depositors, this means you can't make money in the bank. And the stock markets gains look good on paper but inflation erases much of the real value. So people with giant pools of capital have learned to make their own fortunes by buying companies directly. This is "private equity."

Their playbook once they do so is limited to a few extractive techniques. They might buy a few leading competitors in an industry and merge them, double/triple the rates, and shutdown the associated 3rd party services "marketplace" and force people to buy only their services. Or start charging for API access that previously offered to all customers for free.

They might buy a service provider who charges reasonable rates, double/triple the rates, then sell them off again 14 months later.

They might buy a solvent company, saddle it with debt, and sell it off.

These private equity gains drive everyday costs for consumers like me. In a recent 24 months period, every monthly bill I pay went up $$$ as PE firms took over my service providers.

We could slow PE (and inflation in general) by raising interest rates, incentivizing deposits and increasing the cost of capital. But this would require national fiscal responsibility, and nobody wants that. Additionally, we could choose to bootstrap companies with sustainable multigeneration succession planning instead of sudden financialized cash outs. But after tirelessly building a company for a decade most founders would rather cash out so someone else can begin to abuse their customers. "I deserve this."