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But seriously, I doubt Valve itself would change all that dramatically.
I think your answer lies in that statement.
Apple didn't change all that much infrastrurewise when Steve Jobs died.
I still dislike that company so much.
Probably the other cofounder, Mike Harrington might step in but it's hard to tell if Activision will challenge this decision... in a duel with muskets.
- Micro$oft buy Valve
In most of cases make changes with disaster.
Monty Pythons - Meaning of Life - The Crimson Permanent Assurance ("More TF2 Hats")
https://youtu.be/aSO9OFJNMBA
Monty Pythons - Office Pirates - Victory Song
https://youtu.be/fb3uCCjH9G0
Many things could happen - Gabe may leave his share of the company to his immediate family upon his death with his son taking over or he may sell his portion before retirement and it could end up in the hands of a major company who may even buy the rest out and then float it on the stock market. It is also unlikely the other owners in the company have enough combined to secure the company as a whole though.
Valve will not last forever in the current form - just look at how the likes of Sega and many other AAA publishers have changed over the years. Even Valve have changed Steam to be a money machine rather than a platform to champion great PC games. It's far too complex to even speculate and probably a very long way off from a major change behind the scenes.
Activision could easily raise enough - they could even float at zero and walk away with a majority share 24 hours later just through selling shares through external capital alone. If they put an intent out that they wanted to secure a majority stake in a company like Valve; shareholders would be throwing money at them all over the world even if they would get endlessly diluted.
Gabe at this point is just the face of the company, sure he does other projects, but at this point in time hes mainly the face of Valve.
When he goes, be it death or Retirement, replacing him will simply be assigning a new face for Valve.
Simply put, we don't know.
game-wise you could also say that Valve blasted all their bullets. the only thing they ever did was half-life, the rest were purchased ideas and acquisitions. they stopped doing that after portal to focus on VR and hardware. gladly they recently acquired a studio that is not known for relying on a single franchise and they hopefully do not get too infected by the "Valve laziness" ... then you can at least hope for a fresh game from Valve every 3-4 years.
harrington left before Steam was even a concept.
You don't say! I guess I'll scratch him off the list of the 'serious contenders' I mentioned. I'm sure the intern who gets his coffee will be glad to know they were bumped up a spot.. ;)