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Dude’s also a billionaire. The rich have been living longer than they have any right to for centuries.
Every corporation has shareholders whether their profit is $1 or $1,000,000,000,000 regardless of their size.........
I mean you REALLY need to brush up on some basic business concepts before you start trying to argue business.
You're comparing this "huge corporation" of 300 employees worth 7 billion, to CIGNA? And you're trying to demean others. Good luck with that lol.
Were you asking these questions in 2000, when Bill Gates stepped down as Microsofts CEO? I'm assuming you don't spend much time thinking about CEOs of other companies.
And for what it's worth (which I'm confident would not be much for you) Valve HAS stated that in the event that they shut down one day, they would unlock any games using SteamDRM.
You failed to read my previous posts, also compared it to Disney which at the time of Walt Disney's death was worth less then Valve. When Walt Disney died the company was worth around 1 billion adjusted to today's standards.
So i provided multiple examples both larger and smaller, you just chose to ignore 1/2 the examples and focus only on the one to try to prove some nonsensical correlation and failed at it.
Also hate to break it to you but what makes a company large is the ECONOMIC footprint, market share, and its revenue, not the number of employees. Many huge companies can run lean offices but they command sizable economic clout.
So yes, Valve is a huge corporation with share holders. No different then Cigna, Disney, Microsoft, etc. I mean heck every corporation has shareholders, so not even sure why you even stated the "with shareholders" bit unless you didn't know that....
**EDIT**
I think you've derailed this thread with off topic posts about Valve long enough, i'm not going to respond to them anymore. I'd encourage everyone to make sure to stay on topic, and report any posts that are off topic and attempting to derail the thread.
To put this thread BACK on topic, this remains about EPIC, and the poor financial status they find themselves in. Any company having to fire nearly 20% of their staff is in dire straights and mass layoffs is basically a last resort and a huge warning sign. Intresting enough its reflected in EPIC's stock which has been steadily decreasing and has dropped more then 25% in the last year and is showing no signs of recovering
Brian i would love to see your sources, If steam sales reached the 3,1 billions in 2021 it profit was only of 10 millions
Steam Revenue Statistics (2022)
+ In 2021, Steam sold around 439 million games on its platform (excluding free downloads). It is estimated that Steam game revenue for 2021 was over $10 million. Analysts expect that Steam revenue will decline in 2022 due to macroeconomic factors. The platform generated $3.1 billion in the first half of 2022 (including the platform’s fees, but excluding IAPs), up 3% year-over-year.
Your basic business concepts seems to ignore the deninition between revenue and profit
Revenue is the total amount of income a company generates through its primary business activities12345. Profit, also known as the bottom line or net profit, is the amount that remains after all debts, expenses, taxes and other deductions have been taken out of the revenue12345.In summary:
Revenue is the total income a business generates through its sales2345.
Profit is the portion of that income that remains after subtracting that company's operating costs, debts, taxes, and any other expenses it incurs in the interest of generating revenue2.
Revenue includes all income sources such as sales, services, interest earned on investments and any other income received by the company during that period3.
Profit is the amount of money left over after all expenses have been paid3.
Revenue does not deduct any costs or expenses associated with operating the business5.
Steams total revenue in 2013 was $13 BILLION dollars and companies value is based on more then just 1 fiscal year.
Now on topic that is compared to EPIC for instance which over the last few years has generated over a BILLION in losses, and at their BEST hope will show a miniscule profit in 2027. Meaning to wipe out the losses incurred so far EPIC is predicting it to take at least 20-30 years at their current rate of growth. As a BEST CASE scenario.
So i'd be really concerned for those buying EPIC games to know what type of plan EPIC has if their store goes under because its looking more and more like a strong possibility.
I'm not seeing how you're arriving at some of the conclusions you've claimed and it seems like you're grossly misreading some of the vaguer statements and re-framing them into something else entirely.
Valve is extremely profitable. While revenue and profit aren't the same thing, it's not very likely that on 3.1 billion (for example) dollars in revenue that Valve's operating costs are $3.09 billion or whatever formula where over 99% of revenue is needed to cover costs.
Before you lecture someone else about definitions of words, you might want to be enough of an expert to be able to identify what good information is, and be able to consume that information without butchering because you don't understand what you're reading or the reliability of the source.
Not to mention it seems like in a rush to be contrary you confused revenue and profits yourself, because you took the vague statement "Valve made over $10 million in revenue" and interpreted that to $10 million in profit. And since your quote didn't contain actual revenue data from 2021, you just grabbed the first half of 2022 estimated revenue and projected that back on to 2021 to draw some seriously bogus conclusions. Tsk tsk.
Managers and Directors have to meet targets. To do so, they may cut the workforce. It doesn't mean at all that the plan has failed, rather it could just be that it's a difficult year.
That doesn't really make sense. This type of decision would come from the highest levels of the company. A Manager or director doesn't have the authority to just fire 20% of the staff.....
Not to mention a mass layoff like this is a last resort. Under the law this triggers the WARN act and there are a lot of legal issues, PR hits, severances, benefits, etc they have to pay out along with this. Its a long term plan to readjust their operating costs, its not a result of a "difficult year"
Things like this get worse as when you do a mass layoff like this you expect to lose more staff as faith in the company falls, and it can lead to a mass exodus of talent.
Sorry, not getting into it because its not directly related to your own thread but you need to look up the difference in revenue and profit. Your own article said 10 million in revenue, then immediately after claimed 3 billion in revenue. it never once claims 10 million in profit.
Heck its completely nonsensical, I mean any AAA game generates HUNDREDS of millions in revenue for 1 single game let alone the entirety of the store, marketplace etc. They get billions just from the marketplace....
In 2021 gaming was 10 BILLION in revenue not 10 million. Your site just doesn't know the difference between millions and billions. here are a few other sites that all confirm it
https://www.statista.com/topics/4282/steam/#topicOverview
https://www.usesignhouse.com/blog/valve-stats
https://www.demandsage.com/steam-statistics/
and on and on
Your site which you refuse to post the link to just goofed and called it 10 million instead of billion. If you want to discuss it more feel free to make a thread about it and i'll be glad to point out the numerous mistakes you made. I'll be ignoring any other laughable discussions about it on this thread.
Confirmed management was clueless and they didnt know until a few months ago how bad things were and the cuts were needed in order for the company to survive. Also admit that the Fortnite revenue is drying up and not sufficient for them anymore.
So i'd be REALLY worried about the EPIC store being a major bleed of money for them.
I'm guessing the Fortnite money is running out due to the various lawsuits of them not having basic measures to prevent minors from purchasing items or verification.
While it is on the parents to parent their kid, the fact there aren't any safe guards and you could just spam purchases if a card was attached was very intentional.
That and its just getting old and newer shinier games are coming out and getting attention. They've been focusing on the wrong priorities for a while now and relying on Fortnite to carry them thru which was never a smart decision.
Electronic Arts
Microsoft
Square Enix
Ubisoft
All these come back on Steam after a while. Even Sony is on Steam now. We only miss Nintendo now.
Gabe Newell must have read "The Art of War" from Sun Tzu.