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this post was submitted on 17 Oct 2023
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If you wonder why public companies with billions in revenue can't make a Steam competitor is because they can't think long term, being a private company allows Valve to just work on what they want and grow If they need to
Exactly this! I dread the day they go public :(
Reportedly Gaben has implemented safeguards to prevent Valve from getting public after his death. So at least we can hope Valve doesn't go public in our lifetimes.
citation needed?
See also: Reddit's direction to eventually IPO
Has that happened yet? I thought it was supposed to have happened by now
It needs to be viable first, which obviously won’t happen when the management keeps stumbling into PR nightmares weekly.
It nearly happened, but then we protested and tanked the stock price to fuck Spez for fucking us. Now most of the subs are poorly moderated by mods that don't care about their community. Content is suffering and revenue is dropping. Spez pissed on his golden goose and we decided to speed the process up so he couldn't sell before it drowned.
Well they can, but only in one way: Grow by selling at a loss to outcompete other and then make a profit.
Even if Valve was public, Steam makes so much goddamn money that putting ads on the platform would only cheapen it.
Good joke. Investors will see wasted financial potential and make valve do it.
When you have external money you now also have away part of a platform. And the investors don't care. Make number big fast. Nobody there is caring about long term
Thank you armchair analyst