this post was submitted on 10 Nov 2025
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As long Valve doesn’t become publicly traded they will be fine. The problems start when companies optimize for shareholder value rather than customer value.
Private equity buyout would be the same problem but even faster.
So tencent or a saudi prince buys them and it will be fine guyyyyssss haha
Nothing ever bad happens under private ownership either right?
You think there aren't a bunch of greedy finance whores biding their time until Gabe dies in order to take over and enshitify everything so they can squeeze as much money out of Steam as possible?
Na. Even privatly traded companies can enshittify when it gets inherited to people not sharing the same vision as the one that made the company successful.
If you want to prevent enshittification more long term, convert it to a non-profit cooperative, with a work ethic that promotes providing the best service over short term profit.
That would be amaze balls, but hard to see happening in reality.
How cool would it be if Steam split* into a non-profit, giving rebates back to developers for platform fees collected in excess of costs (including generous salaries for their employees, of course) with directives to make the platform as good for gamers and developers as possible?
One can dream.
You're right that going public would virtually guarantee they enshittify, but staying private does not guarantee they remain customer focused. It's still a business, and right now the only thing making it so good for customers, IMHO, is an ideological vision that favours long term stability, and steady profits. That is not the norm in the business world (of tech platforms).
Well yeah, that will be the potential first sign to look out for. If that happens no need to think it won't get worse like everything else.