There’s a bit of meme that private companies make better decisions because they don’t have the silly pressures that the stock market puts on companies. Valve is usually the prime example.

It’s not completely wrong, but needs to be more carefully considered. Being private makes it possible to make better decisions due to lack of stock market pressures. Whether companies actually do or not needs to be considered on a case by case basis. There are plenty of private companies that are still run by shitbags.