Ask HN: The True Value of Teamshares' Business?

Hello everyone, I want to clarify that my intention here is not to criticize or cast doubt on Teamshares. My curiosity stems from the fact that it's a new business model I'm trying to comprehend, and I genuinely wish to deepen my understanding through insights from those more knowledgeable. I'd appreciate any information you can provide! Teamshares has caught my attention for its unique approach: acquiring small to medium-sized businesses from retiring owners, distributing shares among employees and new management, and aiming for an 80% employee ownership within 20 years. They monetize through capital gains and the adoption of tools developed by Teamshares. While many articles praise Teamshares for addressing the successor shortage issue and transferring shares to employees rather than liquidating through a fund, I'm intrigued by the essence of what makes Teamshares remarkable beyond these points. My questions are as follows: On Growth: The rapid growth to acquiring 84 companies and exceeding $400 million in revenue within four years is impressive, but this expansion is somewhat expected due to the acquisitions. Shouldn't the focus be on organic growth, i.e., how well Teamshares can enhance the acquired companies? There seems to be little mention of how these companies are grown post-acquisition or their success rate. Evaluation of the Company: The narrative heavily focuses on solving the successor shortage and the commendable scheme of stock transfer to employees. However, shouldn't the primary evaluation of a business be the value and impact of its services or products to users? Acquisition is a means to an end in business, not an end itself. It's what comes after the acquisition that should matter, such as how these companies contribute to the market or innovate. Without clear indicators of value addition or operational synergies among the acquired companies, it's challenging to grasp the valuation of Teamshares. I've written quite a bit, but in essence, most discussions around Teamshares revolve around the act of acquisition without delving into what makes their model sustainably innovative or distinct from merely having the financial power to acquire. I'm eager to understand what's truly remarkable about their approach beyond the acquisition phase. Thank you in advance for your insights!