Experts say New York mayor-elect Zohran Mamdani’s selection of Lina Khan, the former Federal Trade Commission (FTC) chair, for his transition team acts as a warning to private equity firms in the state that have raised rents and monopolized local healthcare industries.
Throughout the US, private equity has increasingly monopolized industries through the practice of “roll-ups”, acquiring many small local firms and rolling them into one larger firm, giving them power to simultaneously raise prices and lower quality.
