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this post was submitted on 16 Sep 2023
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spoiler: it's still privately owned
I'm guessing what you're getting at is publicly traded != publicly owned. If so yeah, very true. Furthermore privately owned can be just as bad as publicly traded. My company was publicly traded, but the CEO and largest shareholder was the founder. He wasn't terrible as far as capitalist owners go (yeah that's some "master ain't so bad" shit, but still...). We got bought by some literal Nazi heirs though and it's been hell since.
publicly traded is privately owned - buying common stock doesn't give the public, most of whom are too poor to afford said stock, meaningful control over the business. the stock owning class have interests that directly contradict those of workers (ie the vast, vast majority of us).