People saying that when Gabe dies so does Steam seem to be missing a piece of the puzzle.
From everything I’ve read and can tell they work using an ESOP (Employee Stock Ownership Program). Meaning each employee working there today is becoming partial owners in Valve. If you think they will allow some new face to show up when Gabe dies and flip the table you are missing the piece where the owners of this company are extremely well compensated today and a core part of making Valve successful today.
Those shares are also generally for sale for a high enough price. Given the immense current value of the brand, when Gabe dies vultures of every variety will start circling. If they offer employees 2x their share price to sell, enough of them will do it to lose control to investors that just want to enshittify everything and milk it’s brand for every last penny as they drive it into the ground.
My company is an ESOP and shares don’t give us voting rights or any actual control, it’s just a monetary incentive. The C-suite/board still control everything and unilaterally makes all the executive decisions.
People saying that when Gabe dies so does Steam seem to be missing a piece of the puzzle.
From everything I’ve read and can tell they work using an ESOP (Employee Stock Ownership Program). Meaning each employee working there today is becoming partial owners in Valve. If you think they will allow some new face to show up when Gabe dies and flip the table you are missing the piece where the owners of this company are extremely well compensated today and a core part of making Valve successful today.
A ton of companies have ESOP, but that doesn’t stop enshitification because the employees generally don’t own enough shares to exert control.
Those shares are also generally for sale for a high enough price. Given the immense current value of the brand, when Gabe dies vultures of every variety will start circling. If they offer employees 2x their share price to sell, enough of them will do it to lose control to investors that just want to enshittify everything and milk it’s brand for every last penny as they drive it into the ground.
My company is an ESOP and shares don’t give us voting rights or any actual control, it’s just a monetary incentive. The C-suite/board still control everything and unilaterally makes all the executive decisions.