Daycare is a multibillion dollar industry. The previous company I worked at here in Australia was owned by big an American private investment firm (Bain Capital).
My centres company owned about 70 centres under them, and their owners had many other childcare corporations they owned across the globe.
I work for a not for profit now and while they run 76 centres, they actually care about the children.
In his 2009 book The Buyout of America: How Private Equity Is Destroying Jobs and Killing the American Economy, Josh Kosman described Bain Capital as “notorious for its failure to plough profits back into its businesses,” being the first large private-equity firm to derive a large fraction of its revenues from corporate dividends and other distributions.
Childcare in Australia is subsidised by the government, so the childcare centres raise fees and every few years the government raises the subsidy so parents can afford it. Once it’s affordable the centres raise fees again, it’s a vicious cycle.
I read the meeting minutes from when they bought us out and it was all about how they struck gold with free government money. They didn’t give a shit about the children, just how much tax payer money they could take out of our country.
Needless to say the quality of care went down and it wasn’t high to start with, injuries and incidents went up, and I quit to join somewhere better.
I’m honestly slightly confused by this response. Any business type will end up with some that do well, open more locations and get some manner of central office. It’ll inevitably be some manner of corporation because that just how we structure any business beyond small. The daycare is where the kids go and the office their handles local stuff like contact forms and medical notes, and corporate office handles billing and such.
Like, yeah it’s weird for something as personal as childcare to be a franchise, but no one gets too worked up about corporate pharmacies and that’s literally trusting a stranger giving you a bottle of drugs to eat not to hand you the poison they keep a few feet over.
It’s weird and kinda dystopian, but I’m confused by the shock.
because if it involves a profit motive it involves exploitation inherent in this motive. to apply that exploitation to a service that provides care for children would mean there is a nonzero chance the place is not prioritizing child care and safety over profit.
I mean, I get that. As I said, it’s the surprise that confuses me. I understand “ugh, why are we putting profit in _____”. It’s that someone would go “whoah, hold on, people are running daycares for money?”
What. The. Actual. Fucking. Fuck.
Orphan Crushing Machine LLC
Daycare is a multibillion dollar industry. The previous company I worked at here in Australia was owned by big an American private investment firm (Bain Capital).
My centres company owned about 70 centres under them, and their owners had many other childcare corporations they owned across the globe.
I work for a not for profit now and while they run 76 centres, they actually care about the children.
Bain Capital? The Bain Capital? Ugh.
Yes that Bain Capital.
Childcare in Australia is subsidised by the government, so the childcare centres raise fees and every few years the government raises the subsidy so parents can afford it. Once it’s affordable the centres raise fees again, it’s a vicious cycle.
I read the meeting minutes from when they bought us out and it was all about how they struck gold with free government money. They didn’t give a shit about the children, just how much tax payer money they could take out of our country.
Needless to say the quality of care went down and it wasn’t high to start with, injuries and incidents went up, and I quit to join somewhere better.
It’s like the matrix, but for children.
Probably for KinderCare or something similar to them
I’m honestly slightly confused by this response. Any business type will end up with some that do well, open more locations and get some manner of central office. It’ll inevitably be some manner of corporation because that just how we structure any business beyond small. The daycare is where the kids go and the office their handles local stuff like contact forms and medical notes, and corporate office handles billing and such.
Like, yeah it’s weird for something as personal as childcare to be a franchise, but no one gets too worked up about corporate pharmacies and that’s literally trusting a stranger giving you a bottle of drugs to eat not to hand you the poison they keep a few feet over.
It’s weird and kinda dystopian, but I’m confused by the shock.
because if it involves a profit motive it involves exploitation inherent in this motive. to apply that exploitation to a service that provides care for children would mean there is a nonzero chance the place is not prioritizing child care and safety over profit.
I mean, I get that. As I said, it’s the surprise that confuses me. I understand “ugh, why are we putting profit in _____”. It’s that someone would go “whoah, hold on, people are running daycares for money?”
Literally every paid daycare has a profit motive. The issue you take is with scale, not motive.
Wrong. In the northern Europe the daycare are owned by the government and are not for profit. They are still payed but without profit motive
North of what?
Northern Europe
Daycares aren’t Mom and Pop shops anymore. They are chains.