baldur,
@baldur@toot.cafe avatar

“Squarespace to go private in $7 billion private-equity deal”

😬 https://www.cnbc.com/2024/05/13/squarespace-to-go-private-in-7-billion-private-equity-deal.html

bryansmart,

@baldur @acarson Are people ever happy? If the company is private, then dark anonymous forces will hire managers that will make workers perform and conform. If the company is public, then shareholders will elect a board that will make workers perform and conform. If the company is a co-opt, then everyone argues to do things their way, and, when they don't get their wway, they secretly undermine the group decision or leave.

ramsey,
@ramsey@phpc.social avatar

@baldur “Private-equity” is often pitched to employees as “we maintain autonomy and get to decide our future,” but in reality, it means, “if we don’t perform, the private-equity company replaces our senior leadership with their own people who will make us perform.”

ctietze,
@ctietze@mastodon.social avatar

@ramsey @baldur Ah, so the privacy equity holder still chimes in 'creatively' if needed? :/

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