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So Valve, as game devs?
No. The main reason people are worried about what happens to Valve when Gabe passes is because Gabe is the owner, he owns more than 50% of the company. Valve has done well under him but once he's out the picture and that more than 50% ownership is transferred to another person then who knows if the company will stay the same. After all that 50 makes the decisions about the company
If that 50 was split between the workers there would be less certainty about the potentially passing of ice person because the workers collectively uphold the company vision.
I have heard rumours that his son has a similar mindset. Though who knows, those rumours were on this site, plus even if they are true, he could just be pretending so that Gabe doesn't look into other options or he could change his mind after being told some enticing numbers.
No company survives the third generation.
I mean, unless something has changed in theater few years, Gabe owns only about a quarter of Valve