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this post was submitted on 05 Nov 2023
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If they ever went public & were legally bound to make profit for shareholders, there would be no good feelings anymore.
Going public is usually bad for product quality and consumer oriented business models.
Private companies still have shareholders who they are bound to make profit for. They're just shareholders not fixated on stock value as it's not publicly traded.
Private companies aren’t bound to make profit. I purposefully tanked my companies profit to literally 0 during the pandemic so I could keep my employee on at full wage while only open half time. A private company can make profit for shareholders, but it doesn’t have to. It can do whatever the shareholders want it to do, within the boundaries of the law.