How private equity is destroying the labors of love

Private equity is turning every business into a short-term profit center.

Friends,

Last week, Paramount announced that it will be selling Simon & Schuster, one of the biggest and most prestigious publishing houses in the United States, to the private-equity firm KKR, for $1.62 billion.

The acquisition vastly increases the influence of financial interests over book publishing.

This worries me because it continues a trend that be…