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RicardJulianti said:

So, we all know the large companies haven't been doing so hot lately. Square Enix and their layoffs, THQ shutting down, EA laying off 10% of their work force, ballooning budgets that will grow even more etc etc

IF the industry were to go through another crash, would it be this horrible thing that ruins the industry or would we get more out of it than we lose? It most certainly wouldn't be a crash in the same manner as the one in '83, but more along the lines of a pruning. The major companies are choking out the mid-tier companies, forcing them into thinking they need to have massive budgets in order to compete. This leads to studio closures, even from the smaller studios within big companies like EA, Capcom, and so on.

I wrote an article on the subject where I go into more detail about why I think it could end up benefiting us in the long run. Not that I want it to happen of course. You can read it here: http://playeressence.com/would-another-industry-crash-be-such-a-bad-thing/

So what do you guys think? Good? Bad? Not even remotely possible that it will happen?

What you would have is a purging of all secondary people who don't really know games but add production value to games, and the stuff people like in games on the high end.  This means remotely decent scripts will be gone.  Also gone is voice actors, and effects.  You then seen big projects not getting funded.  The portable market gets people into it, and videogames become secondary to society.  The videogame industry becomes one big Apple App Store, with low budget stuff and indie guys making bulk of the stuff.  Loveable characters and whatnot are the cut the rope lizard thing, and angry birds.  Pretty much good bye high production values you have loved.

For me, it means everyone ends up on my level, that of the starving artist.

Thing is a crash means an end to almost all AAA stuff, and games being secondary on portable devices.  Go look back at the crash in the 1980s to see what happened there.