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Path: ...!2.eu.feeder.erje.net!feeder.erje.net!news.swapon.de!eternal-september.org!feeder3.eternal-september.org!news.eternal-september.org!.POSTED!not-for-mail From: Pancho <Pancho.Jones@proton.me> Newsgroups: comp.os.linux.misc Subject: Re: rPI Goes Public Date: Sat, 15 Jun 2024 00:16:49 +0100 Organization: A noiseless patient Spider Lines: 58 Message-ID: <v4ij11$33ig4$2@dont-email.me> References: <WtqcncEXG8y0nPT7nZ2dnZfqn_adnZ2d@earthlink.com> <v4bisq$1hptf$1@dont-email.me> <wwvr0d0g5la.fsf@LkoBDZeT.terraraq.uk> <v4fgrm$2cbhf$1@dont-email.me> <v4g2eq$2hm97$1@dont-email.me> <v4gsge$2phal$1@dont-email.me> <wwvcyojx6af.fsf@LkoBDZeT.terraraq.uk> MIME-Version: 1.0 Content-Type: text/plain; charset=UTF-8; format=flowed Content-Transfer-Encoding: 8bit Injection-Date: Sat, 15 Jun 2024 01:16:50 +0200 (CEST) Injection-Info: dont-email.me; posting-host="ed5487c1b28a375c1e25c499f4ea790f"; logging-data="3262980"; mail-complaints-to="abuse@eternal-september.org"; posting-account="U2FsdGVkX18yBnbFqPJSbMnz5K95lCj20w8YJjx27NI=" User-Agent: Mozilla Thunderbird Cancel-Lock: sha1:2PgAMEBh05kSQXjAuBEDsxGvyNs= In-Reply-To: <wwvcyojx6af.fsf@LkoBDZeT.terraraq.uk> Content-Language: en-US Bytes: 3609 On 14/06/2024 09:44, Richard Kettlewell wrote: > Pancho <Pancho.Jones@proton.me> writes: >> On 14/06/2024 01:21, Lawrence D'Oliveiro wrote: >>> On Thu, 13 Jun 2024 20:21:25 +0100, Pancho wrote: >>>> My point was that The Raspberry Pi Foundation is a charity. >>> That’s not the company that has gone public. >> >> The Raspberry Pi Foundation and Raspberry Pi Ltd (Or whatever it is >> called) are intimately linked. Raspberry Pi Ltd is a subsidiary. > > Raspberry Pi Holdings plc. 49% owned by the foundation if I’m reading > the prospectus correctly. > Ok, Raspberry Pi Ltd was a subsidiary until a few days ago. Up until that point, the Raspberry Pi foundation owned ~75% and was effectively in control. >> So the Raspberry Pi Foundation now has a large share of an asset worth >> 100s of millions. Shares that are easily convertible into cash. The >> people who control Raspberry Pi Foundation have control over the >> shares in Raspberry Pi Ltd. >> >> People who control charities have a number of ways to enrich >> themselves. Paying themselves large salaries is one way, employee >> share ownership schemes are another. > > You can look up the salaries for the senior staff in the prospectus, if > you want. Personally I don’t think they’re unreasonable in context. > We will see what happens to the salaries now. But, as I said, there are a number of ways to enrich themselves. Prior to the IPO ~15% of Raspberry Pi Limited was held by an employee trust. >> Both of these methods are influenced by the perceived value of the >> organisation. They will tell you they are growing the value of the >> charity for the good of humanity, but they coincidentally get rich in >> the process. > > Personally I think the people behind the Pi deserve to get rich, they’ve > made a product that’s both practically and socially useful. > Yes, someone has done a good job, I'm not sure who that is exactly. However, I don't think charities are appropriate vehicles for self enrichment. If that was their goal, they should have formed a normal company. In my experience, it is often the case that the people responsible for the success of a company are not the ones who control the business side, but the business side take more than a lions share of the profit.