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Pachter: Loot Boxes Exist Because Consumers Are Stupid; Hawaii Legislators Are Morons

Wedbush Securities analyst Michael Pachter said recently that loot boxes exist because consumers are stupid. He also labeled the Hawaii state representatives who tried to propose anti-loot boxes bills as morons.

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BeardedDrachen200d ago (Edited 200d ago )

It should say. Loot boxes exist because casual consumers, and even some hardcore consumers, get addicted to the dopamine rush that is similar to gambling. Calling them stupid is derogatory and not productive for this type of conversation.

MorpheusX200d ago

Dorogatory or not , it's true. It's the Truth, there's no point in saying it nice, Consumers ARE stupid, especially in this Western Society as a whole.

Most Gamers are "addicts", that's why Mega Corps who own / finance The Interactive Entertainment Industry get away with Lootboxes, Microtransactions, a transition into games as service future.

Pachter works for these people, the media also, he's simply playing his part.

And the Hawaii legislation is pointless, it's not going to change anything, it's simply a ploy to make stupid consumers feel like someone is on there side fighting for them.

The Hawaii state representatives are "politicians", there job is to lie to the public, give them false hope, they too work for the same corrupt system.

I guess consumers will stay in denial until all is revealed as facts. Lootboxes are going nowhere. These Politicians in the various countries etc, that affront like there fighting for consumer rights are all actor's.

Nothing's going to change, you'll see.

Godmars290200d ago

The majority of consumers are "stupid" or don't care enough about being manipulated. Notice the continuing degrading of quality in products being offered. An aware minority does, but who cares about them. They're the minority.

Nevermind that from that minority, that where their concerns and wants are met, a money-making IP often arises - which is subsequently milked, exploited, and subsequently left to eventually rot into sequels as a AAA franchise.

OmnislashVer36200d ago (Edited 200d ago )

Oh please. Maybe in America, but if it weren't up to us countries would be banning them, especially the gambling MTs.

KakashiHotake200d ago

I agree with this 100% And now that micro transactions are a lucrative business, the video game industry is now becoming like the Casino industry. As long as people are addicts the money will keep flowing and morals get thrown out the window.

Kryptix200d ago (Edited 200d ago )

Welcome to the matrix...

I agree, a lot of politicians are bought out. I mean, did people just forget about Net Neutrality?

What happens is that they give out the illusion that a change is being made, but it's not completely. As, a lot of these laws don't take the full step, just a half or quarter step and just finish there. The problem is, the masses rely on the government too much that they tell them what's ok for them to follow. So now that you can see percentages on a lootbox drop, that gives you the illusion that now it's ok for you purchase them because you know the chances, but before when you didn't know, you didn't buy into it. It's all done to benefit corporations and put money in the pockets of them and the politicians.

It's a Catch 22 for us.

They can easily put out a law that only games that are 18+ can have casino-like features to match gambling laws, but they won't.

FinalFantasyFanatic200d ago (Edited 200d ago )

@Godmars290,

This, so much, while I'm happy gaming has become more normalised and had so many great advances, it's popularity has added just as many problems. Like poorer writing for characters and stories, favouring simplification over complexity, half-asset games, laziness (to be patched or added to later), casualisation, westernisation, ect...

With development costs rising and greed taking place, developers are resorting to shadier practices more often (Destiny 2 or Battlefront 2 are a very good recent examples). And people are still flocking to these games and gladly handing over there money when they should withhold it as a punishment for poor quality or attempted explortation.

Rimeskeem200d ago

Representatives are supposed to represent their electorates best interest.

indysurfn200d ago

That bill was sabotaged by the people that made it. Since you can't gamble even when your 21 in that state then to declare loot boxes gambling and say you can do it when your 21 is going to force them to vote NO. Because they would be voting on allowing gambling. This is a basic REPEATED political trick. I don't expect the loot boxers to understand it though.

FBNS199d ago

That's the attitude that causes nothing to change. That attitude is more destructive than anything else. You don't want to see change and you wanted to stay as it is because you are complacent. A politicians job isn't too lie to us, but many do and get away with it because of complacent attitudes. You want change you want to make a different you can't be complacent. He's doing what politicians are supposed to in this moment. Corporation is taking advantage and being greedy politicians have to step in and put it to an end. Times are changing. Either be a force to help change the community for the good or STFU and GTFO. No one needs your abundance of negativity.

+ Show (6) more repliesLast reply 199d ago
Anzil200d ago

Stupid just like druggys

zerocarnage200d ago

Now that was a retarded things to say considering taking something does not tell you whether someone is stupid or not.

It may be a poor choice in the taking of a drug But then really why is that person taking that drug, for a good time or to get over an illness, either way I don't think you even thought about what you were saying at all.

ChrisW200d ago

HEY! I like drugs, but I'm not stupid enough to like loot boxes!!!

Aenea200d ago

@zero

Even tho he said it in a very poor manner I do kinda agree with him in the way that if you say one type of addicts (gambling, lootboxes, etc.) are stupid then other type of addicts are stupid as well.

Heck, you don't know why people spend money on lootboxes and gamble, they might actually be doing it because they are depressed and the dopamine hit (and playing the game) helps them feel good for a little while which makes it essentially the same reason as why people use drugs.

I don't agree with Pachter, addicts (gambling, lootboxes, alcohol, drugs, anything) are not stupid, they have another underlying problem why they do such things...

+ Show (2) more repliesLast reply 198d ago
SenorFartCushion200d ago

Too many words. "Stupid" will do.

Metroider200d ago

I just like if you know what your paying for. A random chance for something is robbery. I like Fortnite skins and emotes (free to play too) but hated black ops 3 random loot boxes. The best way to do it is by a package deal (and if you think dlc is going away you can forget it and I can promise most gamers want dlc but it's the details they care about , like a map pack or story add on that includes everything and doesn't make you grind or pay for additonal weapons or whatever. You get what you pay for.

We all have favorite games and games we play a whole lot. That is who dlc should be targeting regardless of income. We love a game so much and say: "please add stuff to the game!" The problem has never been add ons but the greedy structure of it rather.

Gh05t200d ago

People who lack self control and discipline are stupid. They lack the intelligence and common sense to know when to stop, or how much to gamble.

If people weren't stupid then the amount of people not buying this crap would make it unprofitable... But they sell a bunch meaning that it's either people who are free to do what they want (because I support freedom and liberty) or stupid people who don't know better.

And really it's more that people don't like being inconvenienced, if everyone who complains about loot boxes didn't even buy the game that sells them this would all change, but the people in Mass refuse to go without the latest and greatest, which makes a game popular so then the "stupid" ones pick it up and buy the loot boxes and bam.

If people truly cares about this issue they wouldn't buy the games. But they want both, they want the game and no loot boxes but forgot that they need to make a point and just not buying the loot boxes isn't enough.

Why am I saying all this, I personally don't give a crap about loot boxes in games, it's never bothered me, just sick of people whining about it and also refusing to stand on their own principles.

rainslacker200d ago

I don't think that it's loot boxes themselves that are popular, but MT as a whole. Loot Boxes are just that. I don't think most people are getting addicted, they just keep spending to get what they want. Eventually, they'll get something that will make them think it was all worth it, while spending more than they would through a MT where the know what they'll get.

Other than that, I do agree that calling them stupid is derogatory and a vast generalization that doesn't really look at the bigger MT issue. It's not like Loot Boxes are anything different than regular MT, other than you take a gamble on what you're going to get.

tontontam0200d ago (Edited 200d ago )

So calling people who busted their money on casinos are ok? and not ok when it happens to gamers?

Anzil198d ago

No they’re fukked too

indysurfn200d ago (Edited 200d ago )

Pather is a ANALYST, plus he is very politically correct with his tongue. He is not used to saying things like this. So when he does he drinks Dos Equis..... err scratch that.......I mean if he is there must really be something to it.

I agree with Patcher....wait what? Did I say that? Oh yeah I say that often when he is being captain obvious. And he is being captain obvious. Wow is is right it is derogatory, but guess what? They have not responded to having a good conversation, they think being the devils advocate is okay. They are stupid, they are not playing the devils ad they are serious!!! You go PATCHER!

indysurfn200d ago

I'd just like to say a some people that are commenting are revealing to us that they too, are stupid. They are taking the defense of the stupid!

Stupid is you do something knowing the bad outcome and you do it anyway! Drugs, smoking, alchohol, gambling, all emotionally DREVIN (albeit in the form of a crave).

They all boil down to I know it is not good for me are the people it and I affect but I will do it anyway, because I have this crave/urge.

quenomamen200d ago

No its because of stupidity, lhow else do you explain COD every year.

Italiano1234567200d ago

Its so true. Ive spent probably 100 bucks just on stubs in mlb the show 18. Im addicted to buying packs. God im such an asshole.

+ Show (7) more repliesLast reply 198d ago
Chris_Wray200d ago

While I agree with him that consumers are pretty stupid - I'm as against loot boxes as you can be - his vitriol against the Hawaii legislators is just pathetic.

Gardenia200d ago

There are lots of people who have more money than they could spend. For them lootboxes are a quick way to get skins, upgrades or whatever lootboxes have. Publisher aim for those people, not the "normal" gamer who don't have the money for that. If only 10% of gamers spend money on lootboxes they already make lots of money

Cobra951200d ago

Right. If game companies are allowed to fleece the rich and stupid few, the rest of us will suffer, because businesses don't care how they get their money. Only governments can change their behavior. That's where regulation comes in, and in this case, it has a solid footing: gambling. Gambling has always been heavily regulated. Shut the door to the easy money, and perhaps the industry will get motivated to make good games again.

200d ago
agent4532200d ago

What about the gamer that overspends what they don't have. There have been many cases were children, teens, and adults have maxed their credit cards or spent money which they didn't have on lootboxes.

Gh05t200d ago

If you really believed that then you would pass on every game that even offers a loot boxes. Then only 10% would sell the game would be an overall flip and this issue would be over. How about stop getting mad at the people who buy them and start getting mad at the people who don't like them still buying the game because they don't have the willpower to actually take a stand against the practice.

FinalFantasyFanatic200d ago

@gh05t,

Alternatively don't buy the loot boxes if you do buy the game (and avoid the pay to win like the plague).

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MorpheusX200d ago

@Chris_Wray

It's pathetic cause it "Fake".

He's not really upset, his job is to pretend like there's such a thing as a good guy, informing the public, fighting for the consumer.

Patcher is an so called "Consumer Analyst", he works for the same Mega Corp/Government Enitiy that he's ranting against.

Does that makes sense? No.

To stupid consumers it does.

strayanalog200d ago

Couldn't the same be said about Michael Pachter and Wedbush Securities?

MuddyWaters200d ago

Well he and his wife's favorite game is Candy Crush and they admit to spending lots of money on it.

-Foxtrot200d ago

Customers are stupid, the same way they believe publishers or studios PR bullshit over and over not learning from their history or past actions as a company.

"But they said something like, “EA shut down my favorite studio in 2005 and I’ve hated them ever since.” He said that on the record. We’re going to legislate against loot boxes? What an asshole"

How? Seriously I'd be just the same, if I was in a high ranking Government position and I saw these shitty practices against gamers I'd do the same, not just because I'm against anti consumer things but I would still have a bit of resentment against EA for the number of things they've done. If you are going to say that wouldn't cross your mind then you are a liar. The number one thing you'd think is "I'm not going do something to prevent companies like EA from being greedy b***** against gamers by trying to stop their lootbox infested ways....and this is for what they did to Battlefront, to Bioware, to Dead Space, to Amy Hennigs Star Wars game and so on"

ccgr200d ago

People need to learn how to vote with their wallets

bluefox755200d ago

I agree. As someone who is old enough to remember what happens when you let politicians get involved with video games, I'd much rather have people just stop buying them.

Derceto200d ago

Right, you remember that time politicians got involved with the drinking age, or the driving age, or (insert one of a million other regulations that are necessary right here)? Ya, the world just went to hell with that evil regulation.

Letting companies dump millions into psychological manipulation research, and endless advertising bombardment? That's the way of the future. Brilliant.

Aurenar200d ago

Indeed. After all, no consumer is being forced.

Derceto200d ago

The entire point of this article. Right. Over. Your. Head.

Allowing the stupid customer base to freely be fleeced by people infinitely smarter than them who focus on the sole purpose of fleecing them. Brilliant indeed.

Cobra951200d ago

For every smart vote, there are a dozen dumb ones. Remember that dollars (euros, rupees, whatever) vote from wallets, not people.

agent4532200d ago

Sadly, our US gov will never support its people. Europe and other countries government do step up and fight on behalf of their constituents.

Gh05t200d ago

That is because you don't understand the role of the US government. It's not supposed to support people. It's supposed to defend people's rights... Like the right to be an idiot and spend your money on stupid crap even if it's stupid. I know it's hard to see that since the US government has been overstepping it's bounds for generations but that's it's purpose.

Not only that but just like loot boxes people say they hate them and then vote for BS candidates again and again. You can blame devs and polatitions but it's the people that vote with dollars and ballots we get everything we deserve. We raised a bunch of idiots with no principles or personal responsibility.

Derceto200d ago

Never been something that the general masses have been good at. This is the "precisely" why I despised gaming becoming "popular" with PS1 and PS2, and since then.

This market does desperately need another crash, to get all the greedy slime out of the business, and most of the people with cement between their ears, out of the customer base.

It never fails. When something becomes popular, it goes to s**t.

JAWx423200d ago

What's sad is I don't think it's adult gamers who are causing this. I don't have any info to back this up so I could be completely wrong, but I believe the majority of MTs that are bought are kids who are using their parent's money to buy them. My friend's step son is obsessed with Fortnite and when they release new skins he never thinks about the value of what he's having his mom or dad pay for, all he knows is that he sees something that he wants. And it doesn't help that the parents of these kids who aren't gamers themselves either don't know or don't care that they're supporting crappy business practices because they just wanna make their kids happy.

Rachel_Alucard200d ago

It's alot of adults with more money then sense actually. Alot of them don't have the time to grind out things even if they can get it for free easily. Kids arent usually allowed to spend $1000 on one game vs whales with completionist mindsets

FinalFantasyFanatic200d ago

You'd be surprised, I've seen plenty of "stupid" adults, so it's not just kids. I don't believe most people put a great deal of thought into this, look how many people have little to no savings for emergencies, retirement or holidays. I think some people get a euphoria from spending, not always the enjoyment of the thing they purchased.

FinalFantasyFanatic200d ago

Unfortunately most people never learn and said companies still make mega bucks. I may boycott one game or it's dlc/lootboxes, but thousands or millions will take my place anyway and be perfectly fine with it.

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