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this post was submitted on 28 Dec 2023
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Private companies have a fiduciary duty to their shareholders just the same as public ones. The big difference is that they tend to have far fewer shareholders and they usually all have some personal relationship. So it's less likely to result in a lawsuit.
Gabe apparently owns 50.1% of Valve. I don't know who owns the rest (I'm reading some places that he got divorced, so possibly his ex-wife?), but if they're not happy with how it's being run they could certainly sue. That being said it seems like a money making machine at the moment, so why would you.
Valve is not a publicly traded company though. They don't really care if investors aren't making the expected profits.
I mean, they care, but it's all Gabe who decides in the end. If he doesn't care as much then that's the way it is.