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Reason.tv: Curt Schilling's Crony Capitalism Debacle (38 Studios game dev)

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Rentahamster

Rodent Whores
Poor Curt. He came off as well-intentioned and enthusiastic, and I'd like to think that there was no malicious intent to fraud, but who knows. I wasn't there.

I didn't get around to playing Kingdoms of Amalur: The Reckoning, but it was Tom Chick's #8 most disappointing game of 2012 http://www.quartertothree.com/fp/2012/12/10/most-disappointing-games-of-2012/

http://en.wikipedia.org/wiki/Kingdoms_of_Amalur:_Reckoning

80 on MC: http://www.metacritic.com/game/xbox-360/kingdoms-of-amalur-reckoning


What irks me the most, though, is seeing the lure of big government compromise the principles of a supposedly small government Republican. He's not the first. Won't be the last.

VIDEO and article:

http://reason.com/reasontv/2013/01/03/38-studioscurt-schillingri-crony-capital

http://www.youtube.com/watch?v=TBphK_v8H0I&feature=player_embedded

The 2012 bankruptcy of Rhode Island-based video-game developer 38 Studios isn't just a sad tale of a start-up tech company falling victim to the vagaries of a rough economy. It is a completely predictable story of crony capitalism, featuring star-struck legislators and the hubris of a larger-than-life athlete completely unprepared to compete in business.

Former Boston Red Sox pitcher Curt Schilling, an iconic figure in New England after anchoring a historic playoff comeback which ended a legendary 86-year title drought, founded 38 Studios near the end of his baseball career in the hopes of becoming a big shot in the intensely competitive multi-player gaming world.

Each loan guarantee must be approved by the Rhode Island legislature, and when the votes were cast in 2010, only one lawmaker voted against it. Rep. Bob Watson (R-Greenwich) noted "a lot of red flags" in a "very risky" deal that was "too fast, too loose, and frankly, a scandal waiting to happen." Watson added "more often than not, politicians are very poor when it comes to making business decisions."

Watson is clearly on to something, at least in the Ocean State. Some legislators later admitted that they did not realize that the loan guarantee meant to stimulate Rhode Island business, was in fact, only going to stimulate one business, 38 Studios.

Schilling, who claims to have invested $50 million of his own fortune in the company, now says that he is broke, and may have to sell some of the prized memorabelia from his baseball career, including the famed "bloody sock" from the 2004 American League Championship Series. 38 Studios' assests are being liquidated and the already economically depressed state of Rhode Island, thanks to the interest on the 38 Studios loan, is now on the hook for more than $100 million.
 

massoluk

Banned
I really don't want to do "shoot the messenger" thing, but Reason is nothing but most despicable propaganda machine with gems like FEMA is a hands out and all that.
 

ShutEye

Member
What irks me the most, though, is seeing the lure of big government compromise the principles of a supposedly small government Republican. He's not the first. Won't be the last.

The Republican Party is basically a bunch of thieves who will say and do almost anything to get the opportunity to divert government resources to themselves and their thieving friends.

Not really sure how much 'compromise' is going on when they've proven themselves over and over and over to be unrepentant liars and hypocrites.

Shilling is just a junior player in a 30 year+ dynasty of one of the most successful con games in history.

I enjoyed Kingdoms of Amalur.
 
Amalur was decent. Disappointing in retrospect, sure, but playing it right after Skyrim was like a breath of fresh air. Dragon's Dogma has since swooped in and stolen Amalur's thunder, though.

I don't think Curt went into it with the express purpose of ripping people off - he posted on Amalur's |OT| quite a bit back in the day, and seemed willing to discuss the game's issues with genuine enthusiasm. I think he's just a poor businessman who bit off more than he could chew. Doesn't excuse his stupidity, though.
 

gohepcat

Banned
I really don't want to do "shoot the messenger" thing, but Reason is nothing but most despicable propaganda machine with gems like FEMA is a hands out and all that.

The fact that that have the audacity to use the name "reason" is annoying. They are obnoxiously extreme.
 
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