Neither Apple or Microsoft are managed by the original founders - and they seem to be doing OK. I've worked for public companies that are pretty old (50+ years) and they had superb management.
They have both had to adjust to competitors along the way and faced disruption.
Apple nearly looked like going out of business at one stage before they brought Jobs back.
They operate in a world where the Mac and the iPhone have to compete with a major rivals.
Microsoft have had to develop their Cloud business as Windows becomes less important.
The Public Sector never needs to do anything like that.
I'm not sure that my experience of the public sector and the private sector in the UK quite aligns with the ideological position that private sector automatically means better managed, better services and better motivated people.
In fact, the most insanely motivated people I've ever met were in the public sector.
