How private equity bought its way into porn

So this story goes back to 2020, when an explosive New York Times article revealed that popular adult film site was hosting child 🌽. Because of this Visa and Mastercard decided to turn off payments to this site. With all this controversy, most investors wouldn't get anywhere near this, BUT one Canadian private equity firm called Ethical Capital Partners saw an opportunity to acquire them for pennies on the dollar. Part of that acquisition was promising to fix the extremely serious problems that were revealed.

But the ECP person who became the new face of the company was a lawyer who defended individuals accused of possessing child 🌽. And under the new private equity firm, they were fined $5 million by the FTC for falsely claiming that they block this content when they do little to nothing different. And they now use their new access to private equity capital to use legal loopholes and aggressively sue critics to stay in operation.

This is a developing story still, so there will be more to come, but in the meantime, please don't ban me for talking about it.