this post was submitted on 16 Jun 2024
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[–] DragonTypeWyvern@midwest.social 14 points 5 months ago (3 children)

"Valve is private, so its shareholders are its workers."

I don't know who keeps telling you libs this, but they're lying.

[–] FlexibleToast@lemmy.world 15 points 5 months ago (2 children)

I don't think that misunderstanding is limited to the libs.

[–] interdimensionalmeme@lemmy.ml 1 points 5 months ago

It is because of a limited understanding of companies in the startup phase. At some point, there is enough cash flow to buy labour outright rather than giving up capital on each hire. This allows shareholders to captute all future capital created by future wagies.

[–] TopRamenBinLaden@sh.itjust.works 2 points 5 months ago* (last edited 5 months ago) (1 children)

You are most definitely right that the major shareholders aren't the workers. The major shareholders are Gabe Newell, and some bankers in Japan.

Still, it is known that Valve employees are partially compensated with stock for working in the company, so most of the employees are still shareholders. They just aren't the major ones.

[–] DragonTypeWyvern@midwest.social 5 points 5 months ago (1 children)

Sure, but that's not what makes it a private company.

[–] TopRamenBinLaden@sh.itjust.works 2 points 5 months ago* (last edited 5 months ago)

Ahh I get your point now, sorry I missed it. Yea, if people think that private company = employee shareholders, they are very wrong.

[–] teawrecks@sopuli.xyz 1 points 5 months ago

Sorry, the way i phrased that does sound causal. It should say "and".

Any real lib knows, public or private, there's no way out of our capitalist downfall.