11–20 of 85 posts
Not very surprised, the game has been a trainwreck in the making from the beginning. Total scope was just way too overambitious, and people weren't going to plow hundreds and thousands of dollars into spaceship jpegs forever.
I know SC initial funding is unprecedented, but is taking out what amounts to a line of credit really that uncommon? It doesn't necessarily mean the initial 150M has dried up -> thus the sky just may not be falling?
Weird that Roberts didn't know better.
Seems like incredibly poor budgeting given that they had $150M and couldn't deliver even a limited version of the game. Maybe I'm underestimating the costs somehow, but you could easily pay pretty high salaries for 100+ people's time over a few years of development with that kind of money. I wonder what they did with it?
- Imagine: Star Citizen: https://www.youtube.com/watch?v=lJJ9TcGxhNY
- Star Citizen - MISC Freelancer Commercial: https://www.youtube.com/watch?v=vO7RxsZpcKc
- Star Citizen: Consolidated Outland Mustang Commercial : https://www.youtube.com/watch?v=BR07oZC0QHU
- Introducing the 2944 Aurora: https://www.youtube.com/watch?v=UvDs7RDKCag
Full playlist: https://www.youtube.com/playlist?list=PLVct2QDhDrB0QRjv9oN02...
It's really important to understand finance if you want to understand the world and it's not that hard.
/thread
I should point out that this is not necessarily a bad thing, nor is it clear what the loan is for. What this tells us is that money has been loaned and secured against assets owned by CIG - this is fairly common practice in the case of commercial loans.
To bank with Coutts you must have at least £1,000,000 in tangible assets and in any event they are selective about their clientele; which implies CIG is doing well.
To be honest as much as the terms are huge, they didn't go to a loan shark neither a shitty bank. It's the bank that manage the assets of the Queen. I don't think they give loan that easily hence the huge collaterals.