this post was submitted on 11 Jun 2024
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Everyone here seems pretty negative on this news. Any particular reason?
Mostly that IPOs put companies into 'infinite growth mode' which is obviously impossible, so their product just degrades over time. They can't just do 'good enough' anymore.
Also the reason why every company that is consistently 'good' is run privately. If you answer to nobody but yourself you have a lot more room for long term plans
Just because you are private, doesn't mean that you answer only to yourself. It depends on how the company is structured and what shares (if any) the leadership holds. In some cases it can be worse because the person who has the shares to force you to do what they want will be able to keep their position without any oversight. Boards in public trades companies are at least public.
Discord is a great example of this. They are privately held and their quality is starting to go down.