It was the best of times for private equity underwriters (PEU) and their TechGod brethren in 2025, as long as they aligned themselves with Trump II, the digital Caligula. Trump II, freshly installed, brought disruption and dislocation to the federal government, dumping workers in exchange for expensive technology.
The Department of Ungodly Greedy Executives Biased Against Government (DOUGEBAG) fell far short of its goal of saving $2 trillion. Federal employee headcount decreased by 271,000 workers but overall federal spending rose by $435 billion. Trump II may be loathe to spend money on people but he knows how to turn a monetary firehose at his priority projects.
It was the worst of times for employees of Sprinkles Cupcakes, a private equity affiliate of KarpReilly. The chain of cupcake shops closed for good on New Year's Eve (12-31-25). At best, employees got a day's notice of the closure. Little warning of job loss during the holidays sounds like a PEU move.
Trump II, in addition to bringing the PEU model to government, dismantled regulations and enforcement mechanisms for what remains. All in all, 2025 was a very PEU year.
