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How is it possible for, lets say Microsoft, to come out with a new console by 2019 when it took them 8 years to come out with the XB1? We all know that Microsoft had to rush the XB1 to the gaming market because of Sony with the PS4.

You also have to consider that these companies had no intentions of cutting this generation short at the very start, so I highly doubt they have much in the works for their new console. There is no way that they would dump millions of dollars into R&D to then just scrap it and start over so soon. People saying that this generation will only last 5-6 years is just ludicrous.