Eventually a buyout is so big that there's no way it could ever cover the cost of the loans needed to complete it, like Paramount buying Warner Bros and going $40 billion into debt instantly. The EA buyout was much the same. There's no way EA can survive. I said as much when the sale happened.

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If it sounds like a leveraged buyout should be illegal, yes. Yes, it should. It's been one of the main vehicles for hollowing out the economy and the middle class for the better part of two or three decades. We're ripping down the walls and burning them to stay warm.

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Another aspect of leveraged buyouts is that it allows the buyer to put all the debt on the company they purchased. It never affects them. They're never on the hook for all the money they borrowed. They get big windfalls and "finder's fees" and closing bonuses, and the company gets destroyed.

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I want you to understand that most of these big game studios are still profitable, even Bioware. The problem is leveraged buyouts, which means taking out massive loans in order to buy someone else's company. It's like buying a luxury car you can't afford, then paying it off by selling it for parts.

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I know a lot of ex-BioWare devs are here, so I just want you to know that you changed my life and I'm so grateful

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