[mlyle]

Unfortunately, in practice, this isn't really true.

It's a less powerful motivation, in that there are not shareholders who will benefit from growth.

But in practice, executives and managers end up making more, which provides an incentive for growth.

[shafyy]

Completely agree. In the end, it's all about the motivation and ethics of the owners. For an extereme example: OpenAI is "non-profit".