And you thought Michael Pachter was bad.
Goldman Sachs, the American multinational investment banking firm worth over $70 Billion in equity, has shared their thoughts on the PS4. According to them, the reveal was so bad that it will cause a “downward spiral” for the whole of Sony. The reason why? Because the PS4 can’t play PS3 games, ‘software makers will have to develop software specifically for PS4’ which apparently means they won’t because there aren’t many PS4’s.
For those that don’t know much about games, say if you Googled “Goldman Sachs PS4” to know what the very influential investment firm thinks, here’s some important info about how the computer games industry works: Every 6 or so years, a new console generation is released, sometimes these consoles are backwards compatible, but the feature isn’t necessary for success (look at the PS3). Also, just because the PS4 isn’t backwards compatible, doesn’t mean that games are only on PS4 – Watch_Dogs is coming to PS3, PS4, 360 and almost definitely the 720.
Goldman Sachs are idiotic and have no idea what they’re talking about so, it’s horrifying that they influence investors and are an investment bank.