The difference is that a hostile takeover can’t happen.
Unless the founder still owns a majority of the shares, you can take control of a public company without needing the consent of the board (and CEO, founder, etc)
A hostile takeover doesn’t have to happen. If Gaben decides “fuck you all” and decides to close the company, then there’s not a damn thing you can do about it. It’s his company and it doesn’t owe you the privilege of continuing to exist.
The difference is that a hostile takeover can’t happen.
Unless the founder still owns a majority of the shares, you can take control of a public company without needing the consent of the board (and CEO, founder, etc)
A hostile takeover doesn’t have to happen. If Gaben decides “fuck you all” and decides to close the company, then there’s not a damn thing you can do about it. It’s his company and it doesn’t owe you the privilege of continuing to exist.
I know it can happen, but that still makes a difference between public and private companies. That’s one risk less.
Especially for Valve which is a very desirable company for their position as de facto PC games online store.