this post was submitted on 16 Jun 2024
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I think there are important considerations to keep in mind.
First and foremost, Valve is not a public company. I don't know if it has investors, but it is not driven by profits like many typical public companies are. These companies tend to allow themselves longer investments without any clear visibility of immediate profits. They also do things for the greater good, even though it does not bring profits.
But also, I think the whole of valve is a set of gamers and people who genuinely care about the gaming business and making great products. I think they all share Gabe's values and goals. It's not like Gabe is the only one holding everything together or else it would instantly crash into the profit driven company it could be.
Both of these scenarios keep me hopeful that this is a longer lasting stance and doesn't hinge on just one person. It's not a proof it will never be a typical profit company but these are barriers which are not typically present. Let's hope for the best and keep rewarding them for their contributions to gaming, open source and for their good actions.
I don’t understand where this myth came from that if a company is a public that they aren’t potentially ruthlessly profit driven.
Valve is not special. Gabe is to a certain degree (though I would also caution people from deifying anybody period). We can never take for granted that the valve and steam experience we largely enjoy today will be there tomorrow. That’s a simple fact.
In the US, there are multiple Supreme Court precedent cases that force profit-maximizing. Shareholders can sue the CEO and board to maximize profit seeking.
So yes, increasing shareholder value is enshrined in US law. Only private corporations can get around that rule. Also, a corporation cannot be forced to break the law to maximize profits, that's just something most CEO's are willing to do for fun.
This is true, with one exception.
There are non-profit corporations. They have to declare that they are non-profit at the time of foundation, though. They have to write that in the statute (idk what it's called in English, it's "Satzung" in German).