My company, until now (for the last 36 years actually) an employee-owned entity, has announced today that it will be having an IPO. While I stand to gain financially from this endeavor, I am NOT happy about it. There are more important things, even for an entrepreneurial company, than pure financial gain, and there is unequivocal value in employee-ownership. It has been an enormous factor in my decision to remain an employee of this company for more than eight years, and I've always felt it was a distinguishing factor for us in a highly competitive marketplace.
While I certainly hope this all goes well, I have great trepidation about the long-term integrity of the company when, even partially, in the hands of the public. Market factors, while beautiful in their own right, have a certain corruptibility when blending public- and employee-ownership and interests. I hope that our CEO and board have honorable (i.e. entirely non-cash-based) intentions in this regard. And I hope that we have not just given away our edge to the competition.
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