Kevin BeaumontNov 8, 2024

Steam founder Gabe Newell has $1bn worth of yachts all around the world.

Steam doesn’t get nearly enough shit from gamers btw. It is DRM lock in, they make $10bn with about 200 employees and shut everyone out of the PC market.

https://luxurylaunches.com/transport/gabe-newell-luxury-yachts.php

Not a Saudi prince or an oligarch, but it is American video game billionaire Gabe Newell that has an armada of luxury yachts worth around $1 billion. Take a look at his 6 vessels that range from an research vessel, a 365 feet long luxury yacht and even a hospital ship. - Luxurylaunches

Luxurylaunches
Show threadmike805
@GossiTheDog Steam is in a ticketmaster like role. If they have not been too evil so far, they will be someday. They have a monopolistic position and Wall Street will push them to exploit it.
Nov 8, 2024 at 12:11amWeb
Show threadFrozen Leo ❄️🇺🇦Nov 8, 2024
@mike805 I think Valve is a private company, so there's no Wall Street pressure
Show threadmike805Nov 8, 2024
@yildo The temptation to cash in for a multi billion dollar payday must be there. And if it does go public, you can expect it to squeeze the life out of the entire gaming industry.
Show threadphi1997Nov 8, 2024
@mike805
Even if Gabe Newell would never do something like that, he won't be in charge of the company forever
@yildo
Show threadRejZoRNov 8, 2024
@mike805 @yildo Why would they when they already make so much cash they can wipe their rears with it instead ofwith toilet paper?
Show threadtowoNov 8, 2024

@mike805
@yildo The whole thread started because they make billions a year and Newell has yachts around the world. There's no need to cash out unless they'd want to try and start trying to game the Forbes Top Ten list.

Unless "doing whatever you want and still getting paid handsomely" gets boring, the risk of a Valve IPO is limited.

Show threadMax L.Nov 8, 2024

@mike805
Steam is built on top of gambling addictions: https://www.youtube.com/watch?v=eMmNy11Mn7g

I would call that pretty evil already.

How Valve is Profiting from Steam's Back-Door Casinos

YouTube
Show threadmike805Nov 8, 2024

@max Heh I didn't know about all that stuff. I knew people traded skins and game objects, but that is wild. Actual casinos where you can wager in-game objects.

The whole "revenue after the sale" model has corrupted the whole tech industry into selling damaged goods.

Lucky for me, I've never been highly motivated to desire virtual objects. Gaming is either about exploration or momentary thrill for me. Skins and virtual weapons don't feel real.