Perhaps a transition to a not-for-profit organization structure might be what folks would prefer? It seems like a potentially better alternative than going public, but I’m not sure how it might work in practice for something like a digital storefront.
In a weird way, one could almost argue that’s roughly how Valve’s been operating anyway, except I imagine they’ve been lining their pockets more than a not-for-profit organization’s owners/employees do.
I bet they make a shit ton of money but they certainly seem to reinvest enough of it too. There is a interesting concept called purpose companies here in Europe but it’s not especially wide spread or planned by regulators so the transition is extremly complicated and expensive. The search engine Ecosia is a relatively well known one, it’s basically a company in self ownership where no one from outside can become CEO and no one can sell or go public, they are obligated to their chosen purpose and that’s where their profits go (in the case of Ecosia that’s planting trees), not sure how it works exactly or if it’s doable in the USA at all tho.
I said this elsewhere but that’s not true. The idea that publicly traded companies have a duty to maximize shareholder value is a myth, and anyone privileged enough to sit on a board of directors likely knows this. See this article for an explanation. Every time a board squeezes a company for short term profits at the cost of long term good will, long term profits, etc., that is because they chose to do so.
Well the relation is wrong but it’s a real thing, they have a duty to grow infinitely or the sroxk price will crash and since that’s impossible to achive they essentially have to squeeze their users for short term gains to seem like they still grow sooner or later
“People like me” meaning “People who cite their sources and investigating claims before making them?” Yes, I can understand why you might find it difficult to convince “people like me” to believe something that’s trivially shown to be false.
I wish something like that existed, once you go public you are obligated to grow and that has limits so you always end up squeezing your users! :/
Perhaps a transition to a not-for-profit organization structure might be what folks would prefer? It seems like a potentially better alternative than going public, but I’m not sure how it might work in practice for something like a digital storefront.
In a weird way, one could almost argue that’s roughly how Valve’s been operating anyway, except I imagine they’ve been lining their pockets more than a not-for-profit organization’s owners/employees do.
I bet they make a shit ton of money but they certainly seem to reinvest enough of it too. There is a interesting concept called purpose companies here in Europe but it’s not especially wide spread or planned by regulators so the transition is extremly complicated and expensive. The search engine Ecosia is a relatively well known one, it’s basically a company in self ownership where no one from outside can become CEO and no one can sell or go public, they are obligated to their chosen purpose and that’s where their profits go (in the case of Ecosia that’s planting trees), not sure how it works exactly or if it’s doable in the USA at all tho.
I said this elsewhere but that’s not true. The idea that publicly traded companies have a duty to maximize shareholder value is a myth, and anyone privileged enough to sit on a board of directors likely knows this. See this article for an explanation. Every time a board squeezes a company for short term profits at the cost of long term good will, long term profits, etc., that is because they chose to do so.
Well the relation is wrong but it’s a real thing, they have a duty to grow infinitely or the sroxk price will crash and since that’s impossible to achive they essentially have to squeeze their users for short term gains to seem like they still grow sooner or later
This isn’t a thing.
Here’s another article explaining why and how it isn’t a thing, and also why people like you think it is.
Honestly, I don’t care to continue this conversation, even the attempt to convince people like you is rather pointless
“People like me” meaning “People who cite their sources and investigating claims before making them?” Yes, I can understand why you might find it difficult to convince “people like me” to believe something that’s trivially shown to be false.