this post was submitted on 07 Dec 2025
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People saying that when Gabe dies so does Steam seem to be missing a piece of the puzzle.
From everything I've read and can tell they work using an ESOP (Employee Stock Ownership Program). Meaning each employee working there today is becoming partial owners in Valve. If you think they will allow some new face to show up when Gabe dies and flip the table you are missing the piece where the owners of this company are extremely well compensated today and a core part of making Valve successful today.
A ton of companies have ESOP, but that doesn't stop enshitification because the employees generally don't own enough shares to exert control.
My company is an ESOP and shares don't give us voting rights or any actual control, it's just a monetary incentive. The C-suite/board still control everything and unilaterally makes all the executive decisions.