I don’t understand where this myth came from that if a company is a public that they aren’t potentially ruthlessly profit driven.
Valve is not special. Gabe is to a certain degree (though I would also caution people from deifying anybody period). We can never take for granted that the valve and steam experience we largely enjoy today will be there tomorrow. That’s a simple fact.
In the US, there are multiple Supreme Court precedent cases that force profit-maximizing. Shareholders can sue the CEO and board to maximize profit seeking.
So yes, increasing shareholder value is enshrined in US law. Only private corporations can get around that rule. Also, a corporation cannot be forced to break the law to maximize profits, that’s just something most CEO’s are willing to do for fun.
It’s not that they can’t still be profit driven, it’s that they can’t be sued by investors for not being ruthlessly profit driven. Private just means that they have the choice at all
I don’t understand where this myth came from that if a company is a public that they aren’t potentially ruthlessly profit driven.
Valve is not special. Gabe is to a certain degree (though I would also caution people from deifying anybody period). We can never take for granted that the valve and steam experience we largely enjoy today will be there tomorrow. That’s a simple fact.
In the US, there are multiple Supreme Court precedent cases that force profit-maximizing. Shareholders can sue the CEO and board to maximize profit seeking.
So yes, increasing shareholder value is enshrined in US law. Only private corporations can get around that rule. Also, a corporation cannot be forced to break the law to maximize profits, that’s just something most CEO’s are willing to do for fun.
It’s not that they can’t still be profit driven, it’s that they can’t be sued by investors for not being ruthlessly profit driven. Private just means that they have the choice at all