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this post was submitted on 31 Aug 2024
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it's a very closely held private company, gaben absolutely has someone to take his place with ideals similar to his.
You hope. It wouldn't be the first time.
example? /genq
Oh geez there's so many people tend to write articles about the general phenomenon rather than specific examples.
One of the biggest recent examples though has got to be Boeing. While they're a publicly traded company, they resisted the call of greed above all until they merged with McDonnell Douglas and the MD executives won the battle for control of the merged company. Things went on a decades long slide after that which resulted in hundreds of deaths and a chain of high profile mechanical failures we're still not sure is over.
For privately held corporations it's all about that new leadership. In fact around 70 percent of family run ones fail in the second generation. But any generation can run the business into the ground or change it up. Bancroft and Barings are great examples of that. Barings was 232 years old when it went bankrupt under mismanagement.