Substrate

The exterior urban environment has unintentionally decoupled from the economy, and to spend time outdoors in these conditions is to re-establish a more direct relationship to space that normally extracts value from us at every turn.

Stoller’s basic thesis is that private equity transforms corporations from institutions that make things and employ people into vehicles for extracting value, shifting that value toward a company’s owners, and then discarding whatever’s left. ​ In this climate, value of any kind is hard to confine to bounded places, even though much of the infrastructure of our society is still set up to operate under that assumption.