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Microsoft's quest for short-term $$$ is doing long-term damage to Windows, Surface, Xbox, and beyond
(www.windowscentral.com)
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That stands to reason. Whatever games the people who stay make will continually fall into this cycle unless there is a fundamental change to the way games are developed. As you pointed out there will be tons of lost knowledge, and games will get worse every cycle. Companies don't want to pay to develop things they just want to buy profitable companies once someone has done the hard work and it's simply not sustainable.