Why buy it back? Support them to create a new company. Don’t reward the shitty company owners by giving them millions after they fired everybody.
Intellectual Property.
So wait a minute,
Company gets bought off to private equity, strips the assets until bankrupsy. The government steps in and wants to support the employees to take the gutted business.
Im all for support of workers owned businesses.
But seems like the government isn’t dealing with the root cause here.
End result: Private equity made money. Good business was stripped out of assets. Tax payers to support rebuilding.
Just tax the private equity firms more.
“Private equity” isn’t a monolithic structure that can be easily defined. It’s just private companies with an exotic corporate structure. You can’t really target them because you will target other private businesses in the process. What you can do is regulate their behavior so that a lot of their financial schemes are no longer profitable. Like, you shouldn’t be able to buy a hospital and then create a shell company to lease it back to itself while investors pocket the rent. PE finds creative ways to stiff banks and consumers with financial engineering and that’s what needs to be addressed.
The NDP aren’t the government and never have been.
I’ve got a whole lot of hate for private equity turning everything they touch into shit but this with EA, the closure was a decade in the making with how EA treated all of its acquisitions, drastically changing their culture, and forcing them produce quantity over quality.
Uhh the opposite actually. BioWare used to make a ton of games. For the last decade, they’ve made just a few games. They did better when they had a game out every 1-2 years rather than 4-5.
It’s both. EA was always a parasitic company, but PE accelerated the extraction of value by saddling it with an unsustainable amount of debt. It’s a zombie company now.
Yep. They’re just leveraging the newest boogyman for more bullshit. Same as it ever was.
And it’s not just EA; even the smaller shops are following suit.
TBF, an employee-owned rebirth might be the true path out of this. But the Federal support is going to need to be strong enough to either let them create an internal publisher or put in enough breaks that a publisher will be happy to take them on.
I think that even if they were to go independent, the magic and the IP are gone for Bioware at this point. A lot of the original veterans have all been laid off already by EA over the years, they’ve moved on, and while they could create spiritual successors to the IP, they’re locked away now and it really wouldn’t be the same if that’s what fans were looking for.
I think it would be more like a Turtle Rock Studio type of situation if they were to come back at this point.
the magic and the IP are gone for Bioware at this point.
aboslutely true, but there have been 58,000 game developer layoffs since 2022, with funding, and a willingness to relocate a few pieces of top talent from the US, I bet you could make one HELL of a studio.
One hell of a studio that wouldn’t be allowed to make ME or DA games. There are tons of those already. No IP means no BioWare.
Oh my god Turtle Rock. That’s a name I haven’t heard in a while.
funny how Politicians know that Private Equity is bad in this case but the equivalent for Real Estate (REIT) is a sacred cow.
“Politicians” aren’t one hive mind. I assure you that this particular politician certainly does not see REITs as a sacred cow.
“Politicians” aren’t one hive mind.
YET. Vote Borg 2029!
Vote Borg 2029!
Assimilate the means of production? Central planning? From each according to their abilities, to each according to their needs?
Got my vote.
Better than real life communists because those tend to just be a dictatorship of the vanguard. A true hive mind where not a single person can have a differing opinion would be the best solution to a lot of things.
Assimilate the means of production?
Yes
Central planning?
Yes
From each according to their abilities, to each according to their needs?
No, everyone is expendable, and your needs are irrelevant.
I dunno, can we do those little parasite guys from TNG “Conspiracy” instead? At this point, I’m kinda willing to listen to their plan.
fair, one down, 3,749 to go
This is the NDP, our lefty party, it most definitely isn’t for them either.
