https://giftarticle.ft.com/giftarticle/actions/redeem/9b4eca...
To summarize, they rejected Nvidia's offer because they didn't want one outsized investor who could sway decisions. And "the company was also able to turn down Nvidia due to its stable finances. Hugging Face operates a 'freemium' business model. Three per cent of customers, usually large corporations, pay for additional features such as more storage space and the ability to set up private repositories."
GitHub is great -- huge fan. To some degree they "sold out" to Microsoft and things could have gone more south, but thankfully Microsoft has ruled them with a very kind hand, and overall I'm extremely happy with the way they've handled it.
I guess I always retain a bit of skepticism with such things, and the long-term viability and goodness of such things never feels totally sure.
Oh no, never. Don't worry, the usual investors are very well known for fighting for user autonomy (AMD, Nvidia, Intel,IBM, Qualcomm)
They are all very pro consumers and all backers are certainly here for your enjoyment only
> but not quite anti-consumer either!
All of them are public companies, which means that their default state is anti-consumer and pro-shareholder. By law they are required to do whatever they can to maximize profits. History teaches that shareholders can demand whatever they want, with the respective companies following orders, since nobody ever really has to suffer consequences and any and all potential fines are already priced in, in advance, anyway.
Conversely, this is why Valve is such a great company. Valve is probably one of the only few actual pro-consumer companies out there.
Fun Fact! Rarely is it ever mentioned anywhere, but Valve is not a public company! Valve is a private company! That's why they can operate the way they do! If Valve was a public company, then greedy, crooked billionaire shareholders would have managed to get rid of Gabe a long time ago.
I know it's a nit-pick, but I hate that this always gets brought up when it's not actually true. Public corporations face pressure from investors to maximize returns, sure, but there is no law stating that they have to maximize profits at all costs. Public companies can (and often do) act against the interest of immediate profits for some other gain. The only real leverage that investors have is the board's ability to fire executives, but that assumes that they have the necessary votes to do so. As a counter-example, Mark Zuckerberg still controls the majority of voting power at Meta, so he can effectively do whatever he wants with the company without major consequence (assuming you don't consider stock price fluctuations "major").
But I say this not to take away from your broader point, which I agree with: the short-term profit-maximizing culture is indeed the default when it comes to publicly traded corporations. It just isn't something inherent in being publicly traded, and in the inverse, private companies often have the same kind of culture, so that's not a silver bullet either.
Valve is one of my top favorite companies right now. Love the work they're doing, and their products are amazing.
Can hardly wait for the Steam Frame.