Thats not true. Privately owned firms tend to be really bad because they don’t have a feduciary duty to long term value. They suck everything dry. Private equity is the reason why daycare costs so much yet the daycare workers make minimum wage.
Steam just happens to be fine under private ownership because it makes enough profit for Gabe to be satisfied.
Gross oversimplification of Private vs Public. We are really taking about three kinds of ownership models, if arguing in good faith.
The people that are invested in the company, usually the people that built it, are at the helm.
The people that built it took a payout from Private Equity who now have ownership stake, and who now set the growth agenda.
The compant is now public, and given to the irrational whims if the ENTIRE marketplace, while at the same time primarily being at the whims of the board and the largest few investor stakeholders.
As long as it remains privately owned, it should be OK. The day shares go public, god forbid, will be the beginning of the end.
Thats not true. Privately owned firms tend to be really bad because they don’t have a feduciary duty to long term value. They suck everything dry. Private equity is the reason why daycare costs so much yet the daycare workers make minimum wage.
Steam just happens to be fine under private ownership because it makes enough profit for Gabe to be satisfied.
Gross oversimplification of Private vs Public. We are really taking about three kinds of ownership models, if arguing in good faith.
The people that are invested in the company, usually the people that built it, are at the helm.
The people that built it took a payout from Private Equity who now have ownership stake, and who now set the growth agenda.
The compant is now public, and given to the irrational whims if the ENTIRE marketplace, while at the same time primarily being at the whims of the board and the largest few investor stakeholders.
Steam has largely existed exclusively in the first category. So have most of the oldest businesses in the planet, which are often family-owned and maintained operations across generations.
Neither do publicly traded companies. All they are required to do is make money for shareholders, and most of them push for short-term value
You say that as if publicly traded firms do
Privately owned is not the same thing as private equity. https://irely.com/private-equity-or-privately-owned-does-it-matter/