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Valve runs its massive PC gaming ecosystem with only about 350 employees
(arstechnica.com)
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I don't really get why this is a story. They have a smaller staff than game studios who are producing far more complicated properties. That's not surprising. What they build is a large app and network, but this seems normal to me.
There's so little news about Valve that anything is worth writing an article about, apparently.
There's not a lot of industries where the dominant player is such a lean company