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this post was submitted on 24 Sep 2023
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Perhaps a transition to a not-for-profit organization structure might be what folks would prefer? It seems like a potentially better alternative than going public, but I'm not sure how it might work in practice for something like a digital storefront.
In a weird way, one could almost argue that's roughly how Valve's been operating anyway, except I imagine they've been lining their pockets more than a not-for-profit organization's owners/employees do.
I bet they make a shit ton of money but they certainly seem to reinvest enough of it too. There is a interesting concept called purpose companies here in Europe but it's not especially wide spread or planned by regulators so the transition is extremly complicated and expensive. The search engine Ecosia is a relatively well known one, it's basically a company in self ownership where no one from outside can become CEO and no one can sell or go public, they are obligated to their chosen purpose and that's where their profits go (in the case of Ecosia that's planting trees), not sure how it works exactly or if it's doable in the USA at all tho.