All I know is that basically every IPO I’ve seen has eventually made the product worse. I have no data to back this up, just feelings, but still. As soon as a company starts worrying about shareholders, corners start getting cut or prices start going up for no reason.
Straight up this has me concerned for the same reason
Once a company becomes beholden to shareholders that's literally the goal
More of the same here. This is extremely depressing news.
It sucks that running a successful business can never be enough.
Prepare for Pi to start going closed source and fighting against "copycat" SBC boards. It'll take a generation to see the enshittification set in, but Orange Pi and other similar projects are going to be the winners in a strictly profit based comparison.
I can’t wait to have to pay a subscription fee for some aspect of it.
Those are the best two examples that come to my mind. Both were great until they IPO’d.
The problem, as I see it, with IPO’s is that the company becomes beholden to shareholders who care nothing for the product, and only for the profit. Quality and profit are fairly mutually exclusive these days.
Reddit hasn’t gone public just yet
Sometimes you have to pre-suck to show investors you are serious about dismantling your company so they can feed on the corpse.
build something, IPO and cash out, then wall st. vultures suck all the value out of it
It's not that quality and profit are mutually exclusive - look at valve, Wegmans... Fuck the list of well known companies I can think of off the top of my head is pretty short.
But you can be plenty profitable and produce quality products, with ethical business practices no less.
Exponential growth is what's incompatible with quality. And taking the money is what sets you on the path - when you take investments, you're trapped. Eventually, you're going to have to IPO, and every step of the way they'll be pushing you to take more investments, more loans, reinvest it in growth... Because if you explode overnight they'll make 100 or 1000x their investment, and if not you can sell off your future to look good for your IPO, and they'll still make a ton of money.
And if you fail? Well, venture capitalism is the scratch off of investments... It's high risk high reward, one big winner makes up for all the losers - a modest win barely competes with far safer investments
"I don't expect to see any change in how we do things."
Oh, this is going to age like fucking milk. You belong to the shareholders now, mate. They'll MAKE you change how you do things, and you'll love it.
What do we want?
_More profit! _
When do we want it?
Now!
No change in current focus, which happens to be the business sector. :)
I was already planning on never buying another Pi based on how they fucked over consumers in favor of business customers during the shortages. This only reinforces it. Companies going public irreversibly eradicates any and all consumer value in favor of shareholders and I do not support any company that actively chooses that path. Fuck 'em. I'll just buy random chinese SBC's instead...
Welp time to move on from Raspberry Pi.
the single board computer market has came far since them.
Probably why they’re cashing out now.
I wouldn't necessarily read too much into this.
I think most people's aversions to the concept of IPOs stems from the fact that it lies at the end of the not-too-uncommon lifecycle of VC-backed companies:
Post-IPO the company has to abide by the regular rules of being a company, meaning that they never really re-capture what it was like when they had a large stack of free money to make all deals sweeter than the competition.
All this to say is that the damage is done once you raise VC capital. Raspberry Pi has raised one fairly small round, so there's potentially some damage done there, but it's way less than your average tech startup did throughout the years, so this doesn't necessarily have to mean that everything will go to hell now.
Thanks for explaining the cycle, my assumption was that bringing in board members is what ruins everything.
No, going overnight from running at a massive loss to "time to make loads of cash" is what ruins everything.
RIP RPI
I personally don't know of any company that has gotten better post-IPO than they were before. Would be enlightening it if anyone could suggest examples or personal anecdotes.
I've prepared for you a comprehensive list, here:
That's a wholly complete list indeed. Must have been tough to put together /s
If people think that an IPO means we're going to … push prices up, push the margins up, push down the feature sets, the only answer we can give is, watch us. Keep watching," he said. "Let's look at it in 15, 20 years' time."
What a fucking lame answer.
RasPi was cool at one time, but that time has long since passed.
When their focus changed to more corporate aligned interests they became less cool. Victims of their own success I’d guess.
But this a politician’s answer. They just didn’t answer the question at all but implied that if we check back in 15 years we’d see that they had “our” best interests at heart.
Um no company has your back. They are all in it to make as much money as possible. I mean I don’t blame them but I don’t trust the em either.
I do blame them. Success does not require obscene profit. A company like that can actually be both successful and not sell themselves out like that.
If profit is a company's only motive, then I'm sorry, but that company has no real value or purpose.
Lol, right?
The sheer ego to tell your customers to reserve judgement on a massive, company changing event for over a fucking decade! Delusional.
Especially when they've been completely beat out in their market niche for ages and are now only holding on due to brand recognition. It's easy to have grass roots community support when you were the only product in your niche, but they've been coasting on that for ages with no real work to truly stay relevant.
Eben Upton has always been a pile of dog shit. If his mouth is open, he's lying.
Back when the first Pi was released, it only had 256mb of memory. He came by our hackerspace to promote the Pi, and swore up and down to us all that no updates were coming down the pipe, that it was safe to buy a Pi from him right then, and we weren't gonna be missing out on anything.
1 week later, they announced all Pis were going to come with 512mb of ram by default, no price increase.
Fuck him. Fuck his stupid face. Never trust a word this dipshit says.
while I'm involved
I guess that's the best one can hope for in top-down corporations. I wish they'd make it a workers' co-op for their and the community's long term sake but who am I kidding.. 🥲
How long before he is no longer involved? It could be sooner than he thinks, who knows.
Time to stock up on pi 5's
There are alternatives that don’t involve giving them your $$
Genuine question: what alternative would you recommend? I was planning on buying a few for various projects next month with my next paycheck but now I’m not too keen on funding them.
Two that I can think of are the BananaPi and OrangePi. Google “raspberry pi alternatives” and I’m sure you’ll find much more.
My local Pinkberry uses orange pi as their POS computer.
That explains a lot if this was their plan. RIP Raspberry Pi.
So, when Raspberry Pi is inevitably enshitified if they go through with this, who's gonna be the next big (rather, small) company to get something Pi equivalent to run an OS like Lakka or Recalbox?
I honestly don't know since I don't know of any other companies making these kinds of mini computers.
There are plenty of alternative SBCs out there, many mimicking the RPi form factor as well. Look into Radxa, Banana Pi, Orange Pi, Pine64, ODROID, etc. I picked up an Indiedroid Nova board last year that is RPi form factor but has the more powerful RK3588 processor. Drivers are still WIP but it is quite fast. I also run my home server on a Radxa Rock Pi 4, which has an RK3399 processor and is very comparable to the RPi 4. Drivers for it are pretty solid these days and it doesn't require extra work to set up. Just download an Armbian image and go.
Any non-rockchip ones tho? Beagle has been dead for a bit.
Pretty much all the alternative SBCs are either Rockchip or Allwinner if you want ARM. There are a few RISC-V SBCs now but software support isn't as solid and many of these lack GPUs. There are also a few x86/64 SBCs based on either older Intel Atom or newer mobile parts too.
SBCs are a fairly mature space nowadays. Plenty of options.
There are literally dozens of alternative products to the Raspberry Pi, each with their own strengths and weaknesses. Do a web search for "single board computer" or even just "raspberry pi alternatives", and see for yourself.
This is the best summary I could come up with:
CEO Eben Upton confirmed in an interview with Bloomberg News that Raspberry Pi had appointed bankers at London firms Peel Hunt and Jefferies to prepare for "when the IPO market reopens."
Raspberry previously raised money from Sony and semiconductor and software design firm ARM, and it sought public investment.
Upton also told The Register that Raspberry Pi "does interesting work and makes money, and I don't think those imperatives are going to change.
Still, news of the potential transformation of Raspberry Pi Ltd from the private arm of the education-minded Raspberry Pi Foundation into a publicly traded company, beholden to profit generation for shareholders, reverberated about the way you'd expect on Reddit, Hacker News, and elsewhere.
The company writes that "profits from the sale of Raspberry Pi computers help fund the Foundation’s educational initiatives."
The UK government's Companies House lists the foundation as having 75 percent ownership of shares and voting rights, with the ability to add or remove directors, though that information was last submitted in 2016.
The original article contains 411 words, the summary contains 168 words. Saved 59%. I'm a bot and I'm open source!
How can the not-for-profit side of business expand with an IPO? People invest specifically to increase their wealth. How's this going to happen with a non-profit business?
Surely those shareholders just fucking love Raspberry Pi so damn much that they just have over their cash no questions asked.
Raspberry pis were cool when small form factor PC is were not easy to acquire.
If you want to get into Maker stuff get breadboards or an Arduino or something.
RIP Raspberry Pi
Well, I guess I've bought my last pi then, was nice while it lasted
This is a most excellent place for technology news and articles.
