As interest rates rise, funding for a lot of marginally profitable companies is drying up. These corporate “zombies” are wandering the markets, looking for the cheap credit they used to feast on. Today on the show, we take a look at companies on the edge of life and the private equity giants that own some of them. Also we short OpenAI and regrettably go long Covid. 

For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer

Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X. You can email Ethan at [email protected].

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.