While Tencent disputes the cancellation rumors, Bloomberg News claims that the project is effectively dead, with around 80 developers reportedly laid off this week. Lightspeed LA confirmed...
80 employees in the LA game market. Probably not all engineer or engineering related but plenty of managers and such, average salary plus benefits was probably 250k/yr at 6 years that’s 1.5 mil per employee so half that 300 mil was probably employees. Equipment and office space and software licenses. Any marketing materials they may have already invested in. The money didn’t just go poof, it paid people and other companies.
Oh good, yet another $300m disappearing into the ether. Wonder if this will also be a tax write-off
Did it disappear though?
80 employees in the LA game market. Probably not all engineer or engineering related but plenty of managers and such, average salary plus benefits was probably 250k/yr at 6 years that’s 1.5 mil per employee so half that 300 mil was probably employees. Equipment and office space and software licenses. Any marketing materials they may have already invested in. The money didn’t just go poof, it paid people and other companies.
I’d largely assume it disappeared into the black holes otherwise known as the C-Suite’s bank accounts.