Honestly, the secret is not being a publicly traded company. All the others have to make the shareholders happy while steam just does steam. If the line doesn’t have to constantly go up you can pretty much do whatever you want as long as you’re still making profit. And if what you’re doing is already working you don’t need to add gimmicks or advertisements to milk it as much as you can just to appease the shareholders.
Being a private company has allowed Valve to take some really big swings. Steam Deck is paying off handsomely, but it came after the relative failure of the Steam Controller, Steam Link and Steam Machines. With their software business stable, they can allow themselves to take big risks on the hardware side, learn what does and doesn’t work, then try again. At a publically traded company, CEO Gabe Newell probably gets forced out long before they get to the Steam Deck.
Man Intel are so dumb for firing Pat. And they did it while seeing positive reviews for their second gen GPUs!
That’s just what happens to CEOs of publicly traded companies when they have a bad year. And Intel had a really bad year in 2024. I’m certainly hoping that their GPUs become serious competition for AMD and Nvidia, because consumers win when there’s robust competition. I don’t think Pat’s ousting had anything to do with GPUs though. The vast majority of Intel’s revenue comes from CPU sales and the news there was mostly bad in 2024. The Arrow Lake launch was mostly a flop, there were all sorts of revelations about overvolting and corrosion issues in Raptor Lake (13th and 14th gen Intel Core) CPUs, broadly speaking Intel is getting spanked by AMD in the enthusiast market and AMD has also just recently taken the lead in datacenter CPU sales. Intel maintains a strong lead in corporate desktop and laptop sales, but the overall trend for their CPU business is quite negative.
One of Intel’s historical strength was their vertical integration, they designed and manufactured the CPUs. However Intel lost the tech lead to TSMC quite a while ago. One of Pat’s big early announcements was “IDM 2.0” (“Integrated Device Manufacturing 2.0”), which was supposed to address those problems and beef up Intel’s ability to keep pace with TSMC. It suffered a lot of delays, and Intel had to outsource all Arrow Lake manufacturing to TSMC in an effort to keep pace with AMD. I’d argue that’s the main reason Pat got turfed. He took a big swing to get Intel’s integrated design and manufacturing strategy back on track, and for the most part did not succeed.
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Private company with long-term strategy VS public company chasing short-term profits to pump stock prices for shareholders.
That’s the primary reason I abhor the stock market. It no longer works for the creator/owner or the customers at all. It simply feeds the greed of the wealthy (special call-out to private equity here).
You know sometimes I actually straight up FORGET that Steam is run by the same company that created Half-Life?
They:
- identified a gradient of human wants
(Video games exist; I want them on my computer) - Created a vector for that want to be satisfied
(Digital distribution that conveys the games I want to my computer) - Stayed the FUCK OUT OF THE WAY
When you do something well, people don’t notice you’ve done anything at all.
- identified a gradient of human wants
Does nothing? DOES NOTHING?! He spent the last few years ripping Microsoft a new a@@hole, rendering their operating system meaningless for gamers! …but nice meme
Gaben has done lots of awesome shit. I fear what valve will become when he’s gone.
I’m not actually too worried. He surrounds himself with champions.
