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this post was submitted on 14 Mar 2024
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And that for being a non-public company.
Non public should be more efficient from the labor cost savings of not having to file all the sec documents quarterly and legal costs of following public company regulations.
Not to mention that an obsession with increasing share price is massively distracting and self-defeating.
Public companies focus on short term profit to keep share holders happy. Private companies can actually focus on long term profit, especially if it's at the expense of some short term profit.
Or they can choose not to focus on profit at all. Probably most people with an ownership stake in Valve are fabulously rich now. Maybe they just want to focus on interesting R&D now.
Theoretically there's a benefit to a publicly traded company that since a lot of your financials are visible to everyone and people get to "vote" by buying and selling shares, there's a sense in which you can get feedback on how well you're running the company that you don't get when it's private. But, as Reddit's "wall street bets" and "superstonk" subreddits show, a lot of investors are morons.