6 July 2025

A profile of Steam developer Valve, which has a flat corporate structure and high profit per head; Ampere: Steam hit 170M MAUs in May, versus 153M a year prior (Louis Ashworth/Financial Times)

Louis Ashworth / Financial Times:
A profile of Steam developer Valve, which has a flat corporate structure and high profit per head; Ampere: Steam hit 170M MAUs in May, versus 153M a year prior  —  Peering inside one of the tech world's strangest companies  —  Here at FT Alphaville we love exploring “black hole” companies …

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