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Half of Roblox’s 2025 revenue came from steal games, and the platform can’t seem to quit them.This week we debate whether steal mechanics are a passing trend or the real engine behind Roblox’s growth, ahead of an earnings call that will likely reward the algorithm rollback. Tim Sweeney says AI will bring a golden age of gaming, while Steam data shows AI-disclosed releases tripling and players pushing back with their wallets. We compare PocketGamer.biz’s top mobile makers against Sensor Tower revenue, break down Modern Warfare 4’s design bets and launch numbers, and unpack a chaotic week at Xbox: a rumored private equity bid, 60,000 voluntary exit offers, a failed Netflix deal and a COO who lasted three months. We close on Rockstar turning Miami into Vice City three weeks before GTA VI.Topics Covered:• Steal games drove half of Roblox’s 2025 revenue.• Roblox earnings could rebound after the algorithm rollback.• Tim Sweeney bets Epic’s future on AI.• AI-disclosed Steam releases jumped from 10% to 34%.• Disclosure labels are hurting sales on Steam.• PocketGamer.biz and Sensor Tower disagree on mobile’s top 10.• Turkey and China dominate the mobile charts.• Modern Warfare 4 wins back sentiment but may miss the numbers.• Apex attachments and the gunnery advisor reshape progression.• Private equity eyes a $100B+ Xbox buyout.• Microsoft offers exit packages to 60,000 employees.• Netflix walks away from a $500M Xbox IP deal.• Helen Chiang leaves Xbox three months after becoming COO.• Rockstar reskins Miami as Vice City.CHAPTERS:00:00 Welcome and lineup00:32 What we are covering today02:12 What everyone is playing05:12 WoW Forever debate06:46 Discord interview takeaways10:15 Roblox revenue chart debate19:17 Tim Sweeney on AI future23:51 Steam AI disclosures data34:35 Mobile Top Maker Debate36:41 Pocket Gamer vs Sensor Tower39:34 Modern Warfare 4 Breakdown56:35 Xbox Rumors and Restructuring01:03:28 Netflix Deal and IP Value01:05:08 GTA VI Miami Marketing Blitz01:07:26 Wrap Up and Sign Off

Discord spent years saying it would never run ads. Now it sits on 90 million daily users who mostly play games with friends, and Chief Business Officer Jules Shumaker, who previously built ad businesses at EA, Zynga and Unity, is turning that audience into a growth channel for game makers.She walks through why players linked through the Social SDK retain 31% better by D28, why Nitro subscribers opt into ads more than non-payers, and how Discord brings lapsed players back for under $2 each. Plus the social commerce launch where 41% of Marvel Rivals purchases were gifts, the push into mobile, and the self-serve ad manager coming next.Chapters:00:00 - Meet Jules Shumaker00:45 - From EA and Zynga to Discord09:00 - What Discord offers game developers13:20 - Social SDK and the retention lift17:15 - Bringing the social layer to mobile20:30 - How Discord started doing ads26:30 - Social commerce and gifting31:00 - Winning back lapsed players39:50 - Video Quest and self-serve ads43:10 - Building a Discord growth strategy

Is Steal an Egg the real engine behind Roblox’s revenue?This week the crew argues over a Konvoy piece saying Roblox should go private. With the stock well off its highs, $6B in cash and a long-term HD strategy that Wall Street keeps punishing, is a buyout the only way out of the brainrot cycle? We also look at the AI-driven surge of first-time creators on Roblox, Arc Raiders’ new big-update content model, the Liquid Swords shutdown and which genres GTA VI is about to hit hardest.Topics Covered:• Takeaways from our interview with Riot’s CFO• Why Riot’s China revenue mostly benefits Tencent• GDC moves to four days and adds dealmaking space• Gen Alpha plays to be seen, not to disappear• Creator activations and the UA content they feed• 20% of top mobile spenders are looking for their next game• Roblox leads PC and console playtime• Should Roblox go private?• Steal an Egg and revenue concentration on Roblox• AI tools bring a 10x jump in first-time Roblox creators• What Liquid Swords’ closure teaches indie AAA founders• Arc Raiders’ content update and Steam free weekend• GTA VI’s launch threatens shooters, sports and racing gamesCHAPTERS: 00:00 Intro01:21 Banned Topics and AI Jokes01:53 Riot CFO Interview Takeaways02:50 Riot China Revenue Reality10:07 Sponsor Shoutouts Sensor Tower14:14 Roundtable Recap Gen Alpha20:32 Whales as Free Agents Stat23:42 Roblox29:30 Replace Dave Or Go Private31:03 AAA Pivot And Moral Debate34:37 Algorithm And Revenue Concentration37:49 AI Flood Of New Roblox Games44:01 Indie AAA Studio Collapse50:04 Arc Raiders57:35 GTA Launch Shockwave01:02:38 EA Bioware Closure

Riot shipped one game in ten years, then four in the next two. Mark Sottosanti, CFO of Riot Games, was there for all of it. He joined in 2012 as head of monetization after running a hedge fund, and has been at Riot ever since.We start with how Riot went from League of Legends to a multi-game publisher. That covers the 10th anniversary reveal, why five of its seven launches worked, and what Legends of Runeterra and 2XKO taught the team. Then we get into the business side, discussing regional strategy, Korea’s PC cafes, mobile and China, Valorant on console, and why Valorant still has no loot boxes.Mark also explains the real math behind Arcane and how Season 2 broke even, how Riot uses AI today, where he sees the industry heading, and why Riot has never bought revenue.CHAPTERS:00:00 Welcome and Guest Intro01:09 Why Riot Now02:07 Mark Joins Riot04:01 From One Game to Many08:55 Greenlighting and Results13:54 Global Offices Strategy17:54 Mobile Shift and China22:55 Wild Rift and Console25:24 Monetization Philosophy26:39 Arcane and Transmedia ROI34:54 Industry Outlook and Hiring37:18 Hybrid Work and CFO Advice39:36 Wrap Up and Whats Next

Xbox has a franchise problem, and Gears of War E-Day just made it obvious.This week we look back on Mobidictum in Istanbul and argue about why Turkey became the puzzle capital while Sweden didn’t. Then we pull apart Aream’s Q3 report: the M&A number is inflated by the EA deal, the IPO window stays shut, and seed funding is at a five-year low. We also cover the EU’s new action against ten game companies over virtual currency and dark patterns, the panic over US console sales, and Xbox’s new XP division. We finish with the Aniimo launch and why FunPlus held back on monetization.Topics Covered:• Mobidictum takeaways and the Sweden vs Turkey debate• US console sales hit record lows ahead of GTA VI• EU targets ten companies over virtual currency bundles• Aream Q3 report and the real M&A numbers• No IPO market for gaming• AI infrastructure money counted as gaming VC• Steam growth and new IP winning on PC• Mobile installs down and the frozen top charts• Turkey stands out in IAP growth and early stage deals• Gears of War E-Day and the cost of losing the console war• Xbox launches XP for film, TV and products• Aniimo launch numbers and its core loop• Why Aniimo skipped direct creature gachaCHAPTERS:01:58 Istanbul Takeaways04:18 Sweden vs Turkey Debate08:02 Cyprus Event Plug13:47 EU Targets Virtual Currency19:00 Areem Q3 Report34:59 Gears E-Day Franchise Autopsy41:31 Xbox XP48:21 Aniimo Launch and Core Loop52:38 Aniimo Monetization and Costs

Retrofitting AI into a 1,300-person company and building one around it from day one are different problems. Mishka Katkoff sits down with Liaz Kamper, AI Experience Architect at AppsFlyer, and Maor Cohen, CTO of Vibes, to compare the two.00:00 — AI-first vs. AI-native companies06:19 — Transforming an established company with AI16:22 — Building an AI-native organization20:40 — Coordination and shared context26:12 — Building the company’s “AI brain”32:27 — Earning customer trust in an AI-powered world37:40 — Success in AI-native teams45:03 — AI as a tool, not the goal51:48 — Token costs58:56 — How AI is changing jobs66:02 — Closing thoughts on the two paths to AI transformation

AI-made mashups of games like Skate 3 and Modern Warfare II took over social media, and publishers responded with takedowns. Google launched Playground, joining Roblox and Meta in the race to build prompt-to-game platforms. New InvestGame data shows 2026 already has more deals than any year since 2022, but buyers are paying less for each dollar of revenue, and the market has reopened on their terms. We also look at whether the Resident Evil movie actually sold games, and where Xbox is headed after its latest “we’re not selling” statement.Topics Covered:• AI mashup mods go viral and publishers issue takedowns.• Jagex pulls a RuneScape trailer after players spot generative AI.• Google launches Playground, with Unity Spark coming soon.• Roblox Build, Meta Horizon Create and the race for AI UGC platforms.• Gaming M&A picks up, but it’s a buyer’s market.• Circle Games raises a $25M Series A led by Tencent.• Resident Evil engagement jumps 50% after the movie, but the back catalog gets the lift.• The GTA VI cloud streaming deal and Xbox’s “we’re not selling” statement.• SNL’s GTA vs Zelda sketch and Mike Tomlin’s Minecraft city.• Aion 2 is eating someone’s life.CHAPTERS: 00:00 Welcome and lineup02:30 Gaming hits pop culture11:10 Xbox sale talk and hardware woes14:36 AI Mods & Mashups23:14 Google Playground prompt games33:08 Marketing Versus Product Reality40:04 Investments54:07 Resident Evil Engagement58:01 Aion 2 MMO Recommendation59:18 Wrap Up And Next Week

Most startup hiring mistakes come down to two things: hiring too fast and hiring too narrow. Garry Hill, head of talent at Makers Fund, sees both across a portfolio of 130+ companies. Before Makers Fund, he recruited at SpaceX, Amazon, Blizzard, PlayStation and Reddit. We start with the hires who looked perfect on paper and still failed, from pedigreed engineers who burned out at Blizzard to SpaceX's weekend interviews, and how those company cultures really compared. Then we get practical about hiring for game studios and startups discussing referral, interview processes, culture, and how to tell what a big-tech candidate is a fit or not for a startup. Garry also explains why senior talent should consider fractional roles, how talent needs change from seed to Series A to Series C, what good onboarding looks like, and the "truth serum" question he uses when interviewing co-founders. A vital listen to anyone hiring or getting hired in startups- chapters: 00:00 Blizzard, SpaceX, Amazon: the hires who looked great and failed12:05 What a head of talent does at Makers Fund14:59 Too fast, too narrow: common founder hiring mistakes19:56 Culture add, not culture fit24:53 Vetting big-tech hires: what did you actually do?31:09 Startup life and going fractional35:03 Seed, Series A, Series C: how talent needs change44:36 Testing co-founders and the truth serum question52:26 Gaming founders vs. tech founders1:00:18 The tell that a co-founder will actually build

Strip out inflation and the games market has barely grown in a decade. This week we dig into Newzoo's latest numbers and what they say about where growth comes from: mature Western markets, existing players and five giant companies taking almost all of it. Then we look at how cheap social games like Big Walk and How to Fish cracked the top 10 PC revenue chart, what Naughty Dog's new Last of Us tease means, and why Chinese developers are rushing GTA-style mobile games out ahead of GTA VI. Topics Covered: Mark Pincus and the $400M Supercell deal that almost happenedWhy 2021 is the wrong benchmark for the marketReal growth after inflation is closer to 2% a yearGrowth comes from mature markets and existing playersChina's advantage at home and abroadCPIs keep climbing while mobile installs fallFive companies drove almost all of 2025's growthBig publishers retreat to their core franchisesFriendslop games break into the PC top 10Naughty Dog confirms more Last of UsChinese GTA-style games launch ahead of GTA VIWhy nobody can compete with GTA head onCHAPTERS: 00:00 Intro 01:01 Ethan Returns Industry Layoffs 01:34 Upcoming Events and Newsletter 03:15 Mark Pincus Interview Scoop 09:45 Newzoo Outlook Beyond COVID 11:37 Growth From Mature Markets 15:58 Inflation and Real Growth Math 23:28 Mobile Revenue vs Installs CPI Surge 27:03 Growth Concentrated in Five Giants 29:49 Publishers Retreat to Core Franchises 31:04 PC Market Reality Check 32:53 Friend Slop Breakouts 47:43 Last of Us Future Talk 01:00:54 Why GTA Has No Rivals

War Dogs sold 2.2 million copies in four days and nobody saw it coming. This episode we break down Bulkhead's early access hit. A hardcore milsim with three teams, no matchmaking and a $40 price tag beat Helldivers 2's launch curve on Steam, and its peak concurrents grew every day of launch week. We get into the persistent cash economy that might be the teamwork fix Battlefield never found, why the 1v1v1 format splits the panel, and whether a sub-100 person studio can pull off a live service with extraction and PvE modes on the way. Topics Covered: War Dogs launch numbers and who is playingThe persistent cash economy and how it kills gear fearHow cash rewards fix Battlefield's teamwork problemThe 1v1v1 format debateMetal Gear Solid V and the lineage of in-round economiesThe risks of a cross-mode economy with extractionMarketplaces and gambling mechanics in shootersBulkhead's go-to-market and the 5,000 player promiseWhere War Dogs ranks on Steam a year from nowCHAPTERS: 00:00 War Dogs Shock Success01:42 Sales Metrics Breakdown08:03 Persistent Cash Economy16:19 Milsim Critiques and Vision33:46 Economy Lineage Discussion34:38 Progression Beyond Cosmetics35:25 CEO Vision And New Modes36:45 Cross Mode Economy Risks39:03 Stakes Gambling And Chaos40:36 Marketplaces In Shooters45:15 Launch Strategy And Trust51:20 Marketing Constraints And Nostalgia52:23 One Year Predictions Debate01:01:05 Wrap Up And Next Episode

Mark Pincus founded Zynga that was later acquired of $12.7B by TakeTwo and still thinks he misplayed the hand. On this episode he unpacks the playbook behind Life at the Speed of Play: why all new fails, how to run a company as a democratic dictatorship why anyone lecturing you about culture has a team rolling their eyes behind them. Life at the Speed of Play: https://www.lifeatthespeedofplay.com/ Key timestamps: 00:00 — Intro 1:30 — Why Mark wrote Life at the Speed of Play 8:49 — How to test instincts: proven, better, new 15:45 — “Know your goal or suffer death by a thousand compromises” 20:36 — The “democratic dictatorship” approach to leadership 26:59 — Getting people to do the right things when you’re not in the room 29:34 — Getting teams to take bold risks and innovate 36:14 — Why CEOs should spend time on product 39:15 — What Pincus would do differently at Zynga 44:04 — Reflecting on the games industry and missed opportunities 50:40 — ADHD as a feature for product makers, anchored by a singular vision 52:14 — Why most MVPs don’t succeed

Xbox is cutting niche studios and signing a niche Kojima project in the same month. We try to make it make sense. Sony pulled funding on Physint after budget concerns, and Xbox picked it up as a franchise with film and TV rights attached. Meanwhile Microsoft keeps restructuring into clean verticals, with Halo moving under Activision and Obsidian joining Bethesda, which has us asking whether Xbox is getting organized to sell. We also look at Build A Rocket Boy closing after roughly $250M raised and one troubled launch, Apple's new ATT prompt in Europe, and why AppLovin's CEO is suddenly on every stage talking about a $50B mobile ad market. Topics Covered: Apple rewrites the ATT prompt in five EU countries.Sony ends Physint funding and Xbox picks it up.The transmedia bet behind Xbox's Kojima deal.Halo moves to Activision in the latest Xbox cuts.Is Microsoft packaging Xbox to spin off or sell?Build A Rocket Boy closes after MindsEye.What big gaming losses do to investor sentiment.AppLovin's buyback, Axon and the fingerprinting debate.Why AppLovin's CEO is on a speaking tour.CHAPTERS: 00:00 Intro 01:35 DICE Athens Hometown Events 03:07 LA Games Conference Plug 04:36 Roundtables and Global Meetups 05:41 Newsletter and Founder Story Tease 10:08 Apple ATT Prompt Changes EU 13:30 Kojima 27:41 Microsoft Restructure and Halo Shift 30:06 CoD Studios Under Pressure 33:45 Can Xbox Be Sold Off 36:10 Halo Moved to Activision 46:34 Build A Rocket Boy Collapse 51:05 AppLovin Stock and Axon 53:58 Fingerprinting Cheating Debate 58:01 Why the CEO Is Touring 01:02:25 Wrap Up and Sign Off

Disney Solitaire is one of the biggest launches of the year, and it might be too successful for its own parent company. This episode breaks down how SuperPlay turned a solitaire game into a Disney-powered hit, why Playtika's debt and earn-out deal could push it to sell, and how Disney Solitaire stacks up against Tiki Solitaire, Grand Harvest and Candy Crush Solitaire. We also look at the full solitaire market, the live ops gap between Disney and everyone else, and whether solitaire can ever rival puzzle. Topics Covered: Why games that scale in tier two and three markets struggle in tier onePlaytika's debt, the SuperPlay earn-out and a possible saleRevenue dropping slower than downloads as a health signalHow big the solitaire market actually isMobilityWare and the ad-only solitaire modelDisney Solitaire as a reskin of Domino DreamsWhy the second game in an IP is half the size of the firstThe social casino pay-to-play economy in Tiki SolitaireCandy Crush Solitaire's hold slot and card design choicesHow Disney Solitaire handles its IP and metaNear wins and a puzzle-style level funnelDisney's 25 to 30 live events per week versus competitorsWhy IP owners may not be the best builders of their own gamesIs solitaire coming for puzzle?CHAPTERS: 0:00:00 Introduction & Tier 1 Market Performance0:03:12 Why Playtika May Have to Sell Disney Solitaire0:09:31 The History & Size of the Solitaire Market0:10:58 Why Solitaire Has Struggled to Monetize0:16:20 Disney Solitaire vs. Domino Dreams0:21:12 How Solitaire Games Monetize: The Casino Mechanic0:24:51 Tiki, Grand Harvest & Candy Crush Solitaire0:28:23 What Disney Solitaire Does Differently0:33:41 Live Ops, Streaks & the Disney Advantage0:36:51 Why IP Owners Struggle to Extend Their Games0:38:02 Is Solitaire Coming for Puzzle?0:40:00 Final Thoughts & Outro

Michael Martinez, co-founder and CEO of FunCraft, tried to sell his mobile game studio in 2025. Trusted people said "don't do it yet". He chose otherwise. A banker pitched the company to 40 buyers. Zero offers. Then the company doubled to a $50M run rate with just 15 people. Rejection like that either breaks a founder or forces a better business. For FunCraft, it did the second. In this episode, Michael breaks down what went wrong in the M&A process, what a failed sale really costs, and how a 15-person team shifted its focus from valuation to profit. Essential viewing for founders thinking about selling, buyers looking at lean and profitable studios, and anyone in mobile gaming, UA, or ad monetization. 00:00 — Funcraft’s failed sale attempt06:27 — Why Michael wanted to sell13:37 — Building a successful business first18:16 — Launching games in just six weeks23:20 — Platform and user acquisition risks29:14 — Balancing growth and profitability34:45 — Building a high-trust remote culture43:12 — Rebuilding the game engine with AI46:18 — Staying focused while scaling

Gaming is back, and this week had a lot to talk about. BlizzCon delivered the biggest slate of announcements Blizzard has had in years, but the timelines and team sizes raise real questions about what Microsoft pressure is doing to the studio. Roblox used RDC to push standalone apps, browser play and a developer wallet, and we debate whether any of it actually improves discoverability. Plus Kojima's Physint moves from PlayStation to Xbox, a heated ad revenue argument over hybrid casual, a surprise 2 million sales hit from Wardogs, and first impressions of FunPlus's Aniimo as it passes 125K CCU on Steam. Topics Covered: Roblox unveils standalone apps and browser play at RDCWhy Roblox standalone apps may struggle with UABlizzCon brings Diablo V, a StarCraft shooter and three WoW SKUsMicrosoft pressure behind Blizzard's bold timelinesKojima's Physint jumps from PlayStation to XboxSavvy Games Group to oversee EA and PIF assetsThe ad revenue debate around hybrid casualWoW Forever and Blizzard's subscription strategyWardogs hits 2 million salesAniimo passes 125K CCU on Steam launch dayCHAPTERS: 00:00 Intro 01:42 Industry Layoffs Talk 02:59 Mishka Podcast Spotlight 06:12 Roblox Standalone Apps Debate 13:12 Blizcon 15:17 Microsoft Pressure Concerns 20:03 WoW Monetization Debate 21:50 Kojima Physint Switch 26:27 EA Merger 39:47 Warcraft Forever 43:44 War Dogs Surprise Hit 47:11 Aniimo Launch 51:31 Monetization and Wrap Up