You think the guy who bought a racing team for funsies (and for charity!), the guy with an extensive forge setup in his palatial basement, needs more money?
I know it's hip to be cynical and all, but seriously. Even if he were so motivated by money, could anyone even put together a payout that'd be better than "continue to watch the Steam Store print money, beholden to no one because Valve is a privately-held company held by you"?
>I know it's hip to be cynical and all, but seriously.
I mean, thats many of the comments about this news, despite Epic/Tencent historally ringing true to their words.
>could anyone even put together a payout that'd be better than "continue to watch the Steam Store print money, beholden to no one because Valve is a privately-held company held by you"?
Sure. It's just a middleman storefront, and there are trillionaire tech companies right now (and more in the future). Maybe Gabe leverages Valve and jumps to a whole other industry when he tires of games. Maybe he just sells it all off and turns that into assets to will off (better than giving family a company they can't manage).
Nothing is certain and much larger internet darlings have been turned agaisnt faster.
>I mean, thats many of the comments about this news, despite Epic/Tencent historally ringing true to their words.
I can't meaningfully reply to this because I don't understand your misspelled malapropism (words ring true, not their speakers). You seem to be suggesting that Epic/Tencent tell the truth, which historically I see isn't true (Linux support, Rocket League, etc), so I must be misunderstanding you.
>It's just a middleman storefront, and there are trillionaire tech companies right now
I think you misunderstand Valve, which is currently in the process of releasing a revolutionary console/handheld PC, and its profit margins, which might be healthier than you anticipate.
>Maybe Gabe leverages Valve and jumps to a whole other industry when he tires of games. Maybe he just sells it all off and turns that into assets to will off (better than giving family a company they can't manage). Nothing is certain and much larger internet darlings have been turned agaisnt faster
Moreover, I think you misunderstand Newell himself. Steam Machines, Proton itself, and now the Steam Deck suggest a dedication to pro-consumer practices generally and videogames specifically that don't really map well to the typical bloodless VC calculus that you're trying to understand this situation with.
What's the relevance of the Gates Foundation? Gates didn't sell Microsoft in order to start it, he used his own personal fortune (fine, Warren Buffet helped, but he didn't sell any golden geese to afford it, either).
Gates sold a decent amount of his Microsoft stock to fund the foundation, something Gabe can't really do given the current structure of Valve. They would have to go public for him to do so, sell to private concerns, or something like that all actions which would dilute his control of Valve.
Somehow Neil Young (the guy who bought a model train company for funsies) and a host of his ostensibly-principled contemporaries all decided recently that they needed more money by selling their catalogs, so I would hazard against assuming anyone is immune to the temptations of more money.
Well, why not? Neil Young is 76, Sting is 70, Bob Dylan is 80. At that point it's better to just sell the catalogue for an enormous amount of money to do things with.
Because despite all the problems, there is at least a glimmer of a hope that an artist's estate will act in the interest of preserving their patron's legacy.
GabeN's personal financial stake in Valve likely realizes much more in the way of a) cashflow and b) control than any rocker's relationship with their catalogs.
Newell isn't the ageing rocker, smarting over the unfairness of the contract, he's the old-school cigar-chomping record executive, deigning to allow others to enrich him with their art. If he wants more money, he's just got to wait around for a bit. It'll arrive presently.
