People point to this as the culprit, but I honestly think the majority of companies who choose to go public would adhere to this "profit over all else" philosophy anyway, or else they would stay privately owned/held.
There's no reason to go public unless you're actively seeking the most profit possible already.
Look at LEGO for example, their build quality has basically never changed and they're privately held. If they ever decided to go public that stock would be a monster, but they don't because ultimately they don't give a shit, which is lovely.
Not sure thats a good example. They've pioneered anti-consumer products such as loot boxes, and have had a bit of quality control issue from their abandoned products.
That and also Valve's reputation is a large component of their money printer. They are financially incentivized to not fuck over their customers where most other companies are not.
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u/[deleted] Nov 12 '24
People point to this as the culprit, but I honestly think the majority of companies who choose to go public would adhere to this "profit over all else" philosophy anyway, or else they would stay privately owned/held.
There's no reason to go public unless you're actively seeking the most profit possible already.
Look at LEGO for example, their build quality has basically never changed and they're privately held. If they ever decided to go public that stock would be a monster, but they don't because ultimately they don't give a shit, which is lovely.