• azulavoir@sh.itjust.works
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      1 year ago

      I work for a company that has specifically stated it will never do that and has stuck to those guns for 50+ years

      • RagingRobot@lemmy.world
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        1 year ago

        I work for one who said the same thing then 2 years ago sold for $12 billion dollars to a public company. The employees didn’t get very much of that either.

    • Buffalox@lemmy.world
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      1 year ago

      A public traded company has way more transparency, I have no idea why you believe privately held companies would be in any way better.

      The problem is often when the original founder of a private company leaves, the company loses its roots and by that its reason to exist. And those two often go together.

      • just_another_person@lemmy.world
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        1 year ago

        Only more transparency in the fiduciary sense, which only really helps shareholders. All companies are still required to follow any regulatory disclosures, which generally benefits the public and users.

        Valve has only gotten to where they are being on the pulse of the gaming community, and being agile to adapt to those needs. Publicly traded companies only care about profits and shareholders by contract. That’s kind of their job once they go public. Very few buck that trend.

        • Buffalox@lemmy.world
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          1 year ago

          Yes you are somewhat right. But IMO Valve is what it is because of Gabe Newell, private or public is not the determining factor.

          When Gabe Newell at some point leaves Valve, the company will change, no matter if it stays private or goes public.

          • 31337@sh.itjust.works
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            1 year ago

            Large “activist” shareholders (usually fund managers, I believe) often step-in and make demands when the stock isn’t performing as they would like. Gabe could be CEO, but shareholders could threaten to dump stock to get the company to act in a certain way. I believe that was behind all the tech layoffs. My conspiracy-biased mind believes these shareholders sometimes push for things that aren’t exactly in the company’s best interest, but are in the investor’s best interest. E.g. if the fund management company is also heavily in commercial real-estate, they may try to get other companies they are invested in to institute return-to-office mandates. My guess is these big players do all kinds of shady shit (use their influence to control media narratives, politicians, etc).

            • Buffalox@lemmy.world
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              1 year ago

              Just because a company is public, doesn’t mean control suddenly is with some Capital company.

              Microsoft as an example was absolutely controlled by the founders for decades, before they left the company and handed control over. There is NOTHING different about that, compared to a private company, that can also be traded.

                • Buffalox@lemmy.world
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                  1 year ago

                  Control still primarily lies with the CEO

                  No control lies with the owners, a public company can easily have a single or a small group of owners that control the company. Your entire premise is simply false.

            • meeeeetch@lemmy.world
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              1 year ago

              That the shareholders push for things in their interest over that of the company doesn’t exactly strike me as conspiratorial thinking. Nearly everyone in an organization will push for what’s best for them.

              Maintaining a healthy organization is in nearly everyone’s best interest, but if you have a small group of decision makers who are not invested in the health of the organization, they’ll be willing to make decisions at the expense of the organization.

          • variaatio@sopuli.xyz
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            1 year ago

            When Gabe Newell at some point leaves Valve, the company will change, no matter if it stays private or goes public.

            Depends how that happens. Since frankly I think people think “the way Gabe Newell leaves ownership of Valve is by him eventually dying”. Since he has never shown any indication to sell. He has offered shares to employees as part of compensation packages, but as I understand even then he has controlling share.

            So ofcourse the most simplest way is “Gabe dies and has done no special arrangement”… shares go to inheritance to his family. So his wife and children. Which might mean nothing changes or everything changes. Maybe he has given private last wishes, maybe not. However they get to decide. They might decide to keep the company as is. Since given they are inheritors of Gabes fortune, not like they would be immediately hurting for cash.

            Second option is… Gabe does actual official arrangements. This isn’t unheard of in case of big private family or personal companies or holdings. For example he might put his shares in a foundation or trust with legally binding last wishes unlike non legally binding personal last wishes. Then what happens is whatever the trust charter is. Given example of say some European industrialist foundadtions like Bosch, instructions are left to run the company as commercial business by board of managers to best benefit of the company finances. However the one option the holders don’t have is “sell the company”, since the shares are hold up in the foundation/trust with instructions “never sell”. Company is to be run profitable enterprise as his and best ability of managers and then… the trust gets the profits and uses them for it’s purposes. It might be a private family trust, where upon the money is then shared to Gabes descendants, but don’t really have say in “we want to cash out, just lump sell our shares”. It could also be as in case of Bosch, that it is charitable foundation. After which all of the business profits of the Bosch conglomerate end up financing various charities, foundations, clinics and so on run by the Bosch stifftung.

            It will change no doubt, since well Gabe isn’t there anymore with his personal personality and well each person has their own personality and influence. However it might not change as much as people think, if say his heirs decide to keep running the company based on same base ethos and principles as Gabe did.

            That or everything might change. Two days after he dies, his estate sells Valve to Electronic Arts.

            • Buffalox@lemmy.world
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              1 year ago

              Two days after he dies, his estate sells Valve to Electronic Arts.

              As I’ve stated before, it’s 100% up to the owner, not what type of company it is.