This is a common thing to say, but I want to push back on it. There's nothing magical about being a private company that means they'll make better decisions. It merely removes one big thing that causes companies to make bad decisions. There's still plenty of private companies run by shitbags.

[–] laurelraven@lemmy.blahaj.zone 46 points 8 months ago (1 children)

While this is true, the flip side of that is that being a publicly traded company all but guarantees they'll be forced to make bad decisions. So, the original point still stands: more companies should do this. They may be shitty anyway, but at least they'll be shitty on their own terms and have the best chance of not being shitty.

[–] explodIng_lIme@lemmy.world 7 points 8 months ago

Every company has shareholders, public just means that shares can be traded publicly. A private shareholder does not need to be part of the company. If enough shareholders at Valve decide to make the royalty to be listed on Steam 50% instead of 30%, no one can stop them. Both public and private companies need to keep shareholders happy because they literally own the company. While that is easier with fewer shareholders, it is by no means a guarantee there won’t be trouble. Just like there are hundreds of public companies that operate without problems but you never hear about those because business as usual is boring af