Comment on Are there any non capitalistic technology companies still around?
PP_BOY_@lemmy.world 1 day agoMore to this point, it comes down to who owns the company, meaning the shares. Fiduciary responsibility is a real thing and is responsible for some of the worst things going on in the world right now.
tpyoman@lemmy.world 1 day ago
Yep agreed and that why I want to exit the industry as even th3 end goal of a smaller company is to sell out to some investors or to get bought out by a larger company.
I dont see any new tech company that genuinely cares and will not sell out but everyone has a price and that why I need to exit capitalism.
Lumberjacked@lemm.ee 16 hours ago
There are tech companies who don’t want to sell. I started my tech company 9 years ago and we did almost $5M last year. My plan is to do this for next 20 years and then sell to my employees. Sure there’s a number big enough that I’d sell my company but so far any acquisition offers have been met with snark and disrespect (from me) and died pretty quick. I talk to other tech owners in similar boats. We just don’t need to tell everyone because we aren’t trying to get acquired. One vocal exception is 37 Signals.
TempermentalAnomaly@lemmy.world 15 hours ago
Why not start the process of transforming it into a coop sooner? I know a business owner getting ready to retire, in the same boat as you. Except now he’s gonna have finance the sale for them and not all of them want to be an owner. To me, that is silly, but more power, more problems.
Lumberjacked@lemm.ee 15 hours ago
Well I’m at least 20 years from retirement. so I’ve got time. I’m looking into several options including coop and ESOP. First 5 years of business was living off savings and raiding retirement funds instead of getting investors. At present I’m aiming for selfish goals of repaying myself and saving for my kids.