3 ms·
Where did you get the idea it was already owned by private equity? A public library delivers value to a community. Profit is not necessary for that, and can be
by goda90 1y ago
Where did you get the idea it was already owned by private equity?
A public library delivers value to a community. Profit is not necessary for that, and can be argued to actually be harmful to delivering value to a community.
Efficiency might not deliver maximum value either when the community is the focus. Something taking a little more time or involving more human effort can actually be fulfilling for those doing and receiving. Firing the librarian that knows all the childrens' names so you can have a kiosk instead isn't delivering value.
- charcircuit 1y agoThe library is owned by Samual Library Inc which is not the government or a public company. Profit is not neccessary to deliver value, but it helps optimize it. If someone knowing kids names is worth it people would be willing to pay more for the service. If people would rather pay less and use kiosks then that may be a better option.
- anon7000 1y agoYou’re saying that nonprofits are the same as “private equity.” That’s an odd take. https://projects.propublica.org/nonprofits/organizations/540610300 https://projects.propublica.org/nonprofits/organizations/540...
- atherton94027 1y agoIt's a very common "gotcha" comment on HN unfortunately — latch on some specific definition of a term then dismiss anything that doesn't fit it. Not sure what we can do about it unfortunately
- eesmith 1y agoSamual Library Inc is a "not-for-profit nonstock corporation ... organized exclusively for charitable and educational purposes." Its bylaws prohibit distributing earnings to "directors, officers, or other private persons, except that the corporation shall be authorized and empowered to pay reasonable compensation for services and to make payments and distributions in furtherance of the purposes set forth in article 6 hereof." - https://samuelslibrary.net/images/about/policies-more/articles-of-incorporation-amended-03-17-2025.pdf https://samuelslibrary.net/images/about/policies-more/articl... And you think that makes it a private equity company? My LLC, which I ran my consulting business under, was neither a government nor a public company ... and neither was it a private equity company.
- charcircuit 1y agoWould you consider Library Systems & Services, from the article, a private equity company?
- eesmith 1y agoYou are the one strangely claiming a 401(3)(c) not-for-profit nonstock company is a private equity company. I assume you have changed the topic because you know you are wrong. As the article says, Library Systems & Services is 'private equity owned'. If you can't tell the difference being a private equity owned company and being a private equity company then you really don't understand this topic at all.
- shkkmo 1y agoYou seem a bit confused. Samuels Library Inc is a tax-emempt 501(c)(3) non-profit, which is kind of the opposite of private equity.
- charcircuit 1y agoThe opposite of private equity would be public equity where the public has ownership of it.
- shkkmo 1y agoA non-profit like this literally cannot be owned and thus no equity to be public or private. It is a legal entity controlled by its board and there are no ownership shares which can be bought, sold, or transfered.
- goda90 1y ago> Profit is not neccessary to deliver value, but it helps optimize it. How?
- dingaling 1y ago> A public library delivers value to a community. Well, a subset at best. I've moved to a new town where the sole library is available to normal 9-5 workers for three hours on a Saturday morning. I don't even know what it stocks because it just isn't open when most people would be able to use it.
- ace32229 1y agoEveryone benefits from a well-read community.
- pseudalopex 1y agoDid you mean a subset at least? Your new town's library's hours are not the best.