Some people have been interpreting my comments around private equity and investors as saying they’re all bad and you should never accept investment or trust a company that does… I don’t agree with that at all. Investors are amazing, they’re the fuel of entrepreneurship and capitalism and responsible for most of what we enjoy today. I can look in the eye of another founder and wholeheartedly recommend Automattic’s investors—True Ventures, Addition, Tiger Global, Salesforce, GIC, ICONIQ, LVMH/Aglaé, Akkadian, Wellington, Sweetwater, Alta Park, Schonfield, Chris Sacca…—and say they’ve upheld open source values and allowed us to nourish the open source ecosystem and flourish as a business. (They’re not an investor, but there are new folks like OSS Capital which are totally open source aligned.)

So investors, even “private equity” ones can be okay, but just like with anything, there are good ones and bad ones, so it is worthwhile to look into their track record. After an investor joins a company, what happens next? Do they change away from an Open Source license? Does the community flourish or wither on the vine as a result of their actions? It can be complex because you can have, as we do in WordPress, some companies contributing and some companies just taking. Some investors, like ours, are minority investors, which means they don’t control the company. Some buy a majority share in companies and control them, and that’s where who ultimately owns things matters the most.

Can they change? Of course. Every saint has a past and every sinner has a future. I think everyone should be afforded that grace. But it can’t just be in words, it has to be in action.

I may make my keynote tomorrow a deep dive presentation into some specific examples of this going poorly, because I think it’s highly relevant to WordPress’ survival. Tune in! There will be a livestream here.