• toastal@lemmy.ml
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    1 year ago

    If they ever went public & were legally bound to make profit for shareholders, there would be no good feelings anymore.

    • RQG@lemmy.world
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      1 year ago

      Going public is usually bad for product quality and consumer oriented business models.

    • Tak@lemmy.ml
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      1 year ago

      Private companies still have shareholders who they are bound to make profit for. They’re just shareholders not fixated on stock value as it’s not publicly traded.

      • Bartsbigbugbag@lemmy.ml
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        1 year ago

        Private companies aren’t bound to make profit. I purposefully tanked my companies profit to literally 0 during the pandemic so I could keep my employee on at full wage while only open half time. A private company can make profit for shareholders, but it doesn’t have to. It can do whatever the shareholders want it to do, within the boundaries of the law.