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Thread: 38 Studios, RIP.

  1. #751
    Broad Band
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    Is that where we got them from? I don't like them, but then they aren't exactly built for giants.

  2. #752
    Mad Chester
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    Quote Originally Posted by Major Malphunktion View Post
    Well, Turbine bought all the chairs.
    About goddamned time. My office chair there was terrible.

  3. #753
    New Romantic
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    When I was there at first the furniture was just random odds and ends.

  4. #754
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    Excerpt from the full complaint.
    The EDC analyst was requested toput together his internal credit memorandum for submission to the EDC Board at the meeting on June 9, 2010. In anticipation of that, on May 28, 2010, the analyst sent Saul an email that was later copied to Stolzman, which contained the following statement:
    Quote Originally Posted by Analyst
    We have some issues here if we are going to get 38 Studios ready to present by the 9th. Have you read the Wells Document? It does a nice job of summarizing the company, the industry and the talent, but it tells me nothing about the opportunity itself. There is no financial information discussed at all and no analysis on the ability of the company to perform. The only numbers I have seen to date are the hard copy of what they presented in the various meetings. To be honest, I have more information on the typical $10k micro loan than I have on a $75 million request.
    This is a problem.
    Later on:
    Quote Originally Posted by Analyst
    Mike,

    The preliminary list of needed items is attached. I am in the process of organizing my thoughts on this, here is where I am currently:

    The 'worst case scenario' as presented by the company involves a new, commercially successful RPG [role playing game] title every two years. Is this realistic? Big Huge Games had their last release (that I can find) in 2006, at least two games have been cancelled since then. The plan does not include anything addressing cancelled games and the associated expenses nor any possibility of delays or that a game is not successful. The plan shows each game being more successful than its predecessor. No one bats 1000, especially not in this industry. Without the RPG release every two years, the cash flowdoes not work to support the debt. The more I look at this, the less comfortable I become with the credit.

    This credit aside, I believe there is an opportunity to create an industry cluster around the assets we have in place (RISD, etc.), however I don't think I can support a $75
    million guarantee to any single company in this industry due to the wide volatility in commercial success of game releases. One success does not guarantee another,
    however the repayment ofdebt relies upon continued success. Perhaps we should develop a toolbox of incentives (including loan guarantees) to attract companies into a
    cluster and not rely on a single company to build the cluster around.
    After 38 Studios received these two lists, Saul told the analyst not to prepare an internal credit memorandum. Saulthen excluded the analyst from further analysis of the 38 Studios transaction. The analyst was never told the amount of net proceeds that 38 Studios would receive from the EDC. No internal credit memorandum was prepared or submitted to the EDC Board. Stolzman knewthat no internal credit memorandum was submitted to the EDC Board. Although Stolzman knew that this analyst initially had been assigned to prepare the initial credit memorandum on the 38 Studios transaction, Stolzman never questioned the analyst regarding the absence of the internal credit memorandum or the analyst’s opinions regarding the 38 Studios transaction, or whether the information requested in the two lists had been provided by 38 Studios to the EDC.

  5. #755
    New Romantic
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    Anyone see the new ESPN 30 for 30 documentary "Broke"? It's really good; about how and why a huge percentage of professional athletes declare bankruptcy. Anyways, Schilling was man enough to be a part of the documentary and talk about how he fucked up. Tapped himself out, too.

  6. #756
    Spinning Toe
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    NY Times finally did their own story on it...

    http://www.nytimes.com/2013/04/21/bu...tudios.html?hp

  7. #757
    Mad Chester
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    Quote Originally Posted by DTG View Post
    NY Times finally did their own story on it...

    http://www.nytimes.com/2013/04/21/bu...tudios.html?hp
    As a New Englander, this made me smile:

    Rhode Islanders are used to being played by their politicians. What makes them cringe is the suspicion that virtually all their elected leaders might have been played by someone else.

  8. #758
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    It's $5.99 on GameStop Impulse, registers on EA Origin. I was surprised, but I ended up enjoying it as an offline WoW-clone. Needs use of a third-party widescreen fix though to play on 16:9/16:10 monitors/TVs to adjust the FOV.

  9. #759
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    Mr. Schilling’s version was especially challenging, because it was a “player versus environment,” or P.V.E., game, which means that your world as a player can evolve differently than some other guy’s, depending on the choices you make; if you kill a wizard somewhere, the fortress that the wizard might have created somewhere else in the game will never exist.
    Bluh?

  10. #760
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    Quote Originally Posted by MarinusWA View Post
    Bluh?
    Yeah, it's often painful to read when mainstream press tries to write about computer games. Always reminds me what a queer, small niche computer gaming is for most adults. I can only assume the reporter got some wind of phasing being planned for the game.

  11. #761
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    Quote Originally Posted by DTG View Post
    Yeah, it's often painful to read when mainstream press tries to write about computer games. Always reminds me what a queer, small niche computer gaming is for most adults. I can only assume the reporter got some wind of phasing being planned for the game.
    Google and/or wikipedia could have helped clarify what PVE is to those outside the community... barely any work at a all. Mainstream doesn't really have a reason to get it right though since the penalty to getting it wrong is almost nil.

  12. #762
    Mad Chester
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    Quote Originally Posted by DTG View Post
    Yeah, it's often painful to read when mainstream press tries to write about computer games. Always reminds me what a queer, small niche computer gaming is for most adults. I can only assume the reporter got some wind of phasing being planned for the game.
    I hold the opposite opinion. Generalist press (mainstream) actually know very little about any subject, it is just when they cover something you know about that the disconnect is visible. In other words they know as much about economics as they do video games. That is to say, it is patchy.

    When stories are most credible is when being written by the domain reporter of the subject, when they look most silly is when a reporter branches out, such as in this case when a reporter who presumably knows a lot about politics tries to write about video games.

    But in general the press (sweeping generalisation but why not) know just enough about most subjects to sound credible to a non informed reader.

  13. #763
    New Romantic
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    Yes indeed. Most journalists these days are either lazy, imbecilic, or massively overworked -- no doubt all three apply much of the time. Not just because they know almost nothing outside of popular culture and current politics, but because they don't bother to educate themselves to that minimal level required to write an article that is even slightly outside the lines. In the good old days, journalists for the Times and other leading newspapers didn't magically develop polymathic science and arts educations, but they were at least conscientious enough (or had demanding enough editors) that they spent some time understanding what they were writing about. The paper wouldn't want to publish ignorant drivel, after all....

    But in this particular case, writing about the failure of a game company that collapsed due to bad management, stupid fiscal assumptions, and deceptive business practices, game mechanics are hardly relevant. The writer shouldn't have bothered to dip an oar in such a very murky lake.

  14. #764
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    http://www.bloomberg.com/news/2013-0...-s-regret.html

    Schilling had no idea how much time and money it took to build the software required for such a game. And he didn’t exactly help matters by weighing in with suggestions of his own. There was, for example, that instance when he mentioned in an e- mail that it might be cool to have mounted combat on flying pigs. The design team worked on nothing else for a week.

  15. #765
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    Yeah, that's old news, and the NYT article is somewhat astonishingly late to the party. I wonder why they published it now when they had nothing new to add.

  16. #766
    Administrator World's End Supernova
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    Quote Originally Posted by dithadder View Post
    http://www.bloomberg.com/news/2013-0...-s-regret.html

    Schilling had no idea how much time and money it took to build the software required for such a game. And he didn’t exactly help matters by weighing in with suggestions of his own. There was, for example, that instance when he mentioned in an e- mail that it might be cool to have mounted combat on flying pigs. The design team worked on nothing else for a week.
    That's awesome, but it's text pasted directly from the article. I clicked the link hoping to read more about the mounted combat on flying pigs and discovered only what you had written in your post. :(

    -Tom

  17. #767
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    Quote Originally Posted by Tom Chick View Post
    That's awesome, but it's text pasted directly from the article. I clicked the link hoping to read more about the mounted combat on flying pigs and discovered only what you had written in your post. :(

    -Tom
    Why does this make me think someone played the reporter after realizing how little they knew about gaming. I mean seriously? It reminds me of Goonswarm members baiting Eve "News Correspondents" to see how much shit they can get them to report.

  18. #768
    New Romantic
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    It does sound like the reporter was being baited. But if you've ever been in a company with a CEO with a forceful personality, or with obsequious managers (seems like 38 had both) you can see the silliest jokes and dumbest mistakes from on high being taken seriously and promulgated through the ranks as actual directives.

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