[frollo]

Not only the steps do to this properly would probably kill most companies, but investors would avoid such company like the plague.

They'd basically need to lose all protection on their product, making it a de facto open source (note that there are companies operating on open source stuff, but they actually make money out of the things they don't open source - such as "pro version" or know how). Plus, investors value the pool of recurring customers far more than basic cash flow or such (because you can squeeze them more) and the next best thing is customers you can make recurring customers by moving your product to a subscription model.