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The Aspirations And Pitfalls Of Being Chris Roberts

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Comments

  • VorpalChicken28VorpalChicken28 Member UncommonPosts: 348
    Well researched and written critical article, better than most of the shit slinging articles.

    Certainly gives you a deep insight into CR and his previous ventures.
    “Nevertheless, the human brain, which survives by hoping from one second to another, will always endeavor to put off the moment of truth. Moist” 
    ― Terry PratchettMaking Money
  • SavageHorizonSavageHorizon Member EpicPosts: 3,466
    Yeah he must have a real problem on who he takes to his herem each night, oh wait i know. 


    Have fun! 




  • FrodoFraginsFrodoFragins Member EpicPosts: 5,897
    I couldn't read it all as it was just too much.  It is telling that the people dismissing the article are dismissing the person and not the facts.

    CR is in over his head and his being a dreamer is hurting the project.
  • KefoKefo Member EpicPosts: 4,229
    I couldn't read it all as it was just too much.  It is telling that the people dismissing the article are dismissing the person and not the facts.

    CR is in over his head and his being a dreamer is hurting the project.
    Easier to attack the person in order to dismiss everything rather then actually refute it with things like evidence.
  • Turrican187Turrican187 Member UncommonPosts: 787
    Burntvet said:
    Burntvet said:
    Personally, I think at this point and for some time, it has been about CR and his cronies enriching themselves on the "investment income" generated by all of the pledged money.

    All the money that CIG collected, is not going to just sit in someone's safe. It gets invested. And before the "huge effort" got rolling, for the first 1-2 years, the company expenses were not that much.

    So for the first 1-2 years, that 50-$75 mil or whatever it was, was generating nice investment income that no one was tracking from the outside, because: 1. CIG is not a public company and does not need to open the books, and 2. Because it is not money for "pledges" or sales, no one is going to be concerned with how it is distributed, because at the end, all the pledge money will get used to make the game.

    He can open the books at the end and say, "Here is the (shitty) game, and here are the records of the $110 mil+ spent on developing it." And it will be the truth as far as it goes, but not the $10-15 mil in funds generated by all that pledged money over the years, for which CR has no responsibility to put towards game development. And it would not even be illegal for him to pocket it.


    I am no conspiracy theorist generally, but I do know money and corporate finance, and this explanation is one of the few that fits the facts about the development and delays involving SC, to this point.

    Thats BS, CIG needed to have access to the money, no bank will give you money for an "investment" they can not use - If you put money in your account 99% of it will be unavaiable on day 1 because the bank is working with it and just keep in safe what they have to by law.
    if someone is going to put 50.000.000$ in his account and wants to have access to it they will give you nothing - more likely you have to pay administration fees.
    I guess you don't understand money development :)
    You must be a financial moron.... it is you that understands nothing. Have you ever had an account beyond a checking account?

    Investing large sums of money like that is not like having a checking account.

    For your ignorant self, let me give you a small theoretical scenario:

    As I mentioned in an earlier post, after initial fundraising and before development started in a large way, they had what? $50-$75 mil on hand? You take that, and break that down into several "buys" into various kinds of investment vehicles. Obviously, would not be all of it. Say $50 mil out of $75 mil. Spread it across a number bond funds, materials ETFs, equities, whatever. With investments that large, you'll often get a higher negotiated rate of return or other favorable terms.

    For the first 2 years, before CIG was SPENDING money in a large way, and even longer because CIG was continuing to raise money the whole time, that block of sequestered fund generates income each money, a lot of it. They did not need access to the large pot of money, because the monthly burn rate was still small.

    And further, if CIG EVER ran into a cash crunch because of such a large block sequestered cash, they could get a credit line in about 10 seconds, using any of the investment accounts as collateral, so access to all the liquid they would need on a monthly basis. Heck, they could even write off the interest to the credit line as a legitimate business expense, to let the investment funds keep working, because again, CR on some level will have to account for donated funds, but not funds generated by those donations.

    All of the money does not NEED to be totally liquid at one time, because they will never need it all in a single month or several months.

    No one is that stupid, that they are going to leave multiple 10s of millions of dollars in an account making no investment income or next to none.


    And since this is a private company with no stockholders that has taken "donated" money, this has created a situation that could be exploited in such a way legally, and with no recourse for the donors (because CIG is not a charity). Not even if the game is terrible or does not get released.

     All for the theoretical enrichment of the owners.

    Yes you are right, this is best way to drive your development company against a wall.

    When you have cake, it is not the cake that creates the most magnificent of experiences, but it is the emotions attached to it.
    The cake is a lie.

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