It’s also a big risk, as they could always enshittify. It’s a good platform now, but if Gabe dies or decides to give up his leadership position, that could all change very quickly.
Yeah, the day Gabe leaves is going to be a sad day for gaming, because Steam is probably gonna get real shitty real quick. I’m sure some finance-minded jackasses will do their best to maximize short-term profit and fly the whole ecosystem into the ground at Mach 3.
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.
It’s also a big risk, as they could always enshittify. It’s a good platform now, but if Gabe dies or decides to give up his leadership position, that could all change very quickly.
Yeah, the day Gabe leaves is going to be a sad day for gaming, because Steam is probably gonna get real shitty real quick. I’m sure some finance-minded jackasses will do their best to maximize short-term profit and fly the whole ecosystem into the ground at Mach 3.
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.
Privately owned is not the same thing as private equity. https://irely.com/private-equity-or-privately-owned-does-it-matter/
The first sentence
This article seems to be about the ethos of private equity. Legally they’re nearly identical.
Sure, legally yes.
In practice, a lot of the time, not even close.
Yes that’s what I said.
You say that as if publicly traded firms do