Where WILL all the Money Come From?

Curt Schilling, 38 Studios

Recently, Werit wondered if the MMO thing isn’t getting out of hand and whether a lot of the new MMO’s on the horizon are destined to fail because there isn’t market share for all of them.  You have to wonder if it’s not only the bloggers of the world that are wondering this.

In the Boston Globe recently, there was an article that mentioned that Curt Schilling was out pounding the pavement in search of venture capital.  Some people may be surprised to learn that 38 Studios isn’t funded by Curt with his own funds.  His family would have the right to have his head examined if he did.  Why?  Someone once gave me a really good definition of the difference between rich and wealthy.  He told me that Kobe Bryant is rich.  He said the person that signs his checks is wealthy.  Curt is very well to do, but I wouldn’t call him wealthy (unless you compare him to me, but that is another story.)

So should we be concerned that he’s out looking for an investor or two?  No.  Should we be concerned that in this market, with the ultimate 800-pound-gorilla in his room and a down economy with a potentially glutted market he may have a hard time finding the right investor?  Maybe.

Venture capital deals are fraught with peril for start-ups.  Hit it big and you can probably easily afford to get that monkey off your back.  Do marginally well or shoot out a blooper on your first effort and you could wind up outside your own company looking in.  Many a start-up executive has found himself replaced when things don’t go as planned.  I know that with Curt’s personality, he’s not likely to compromise.  He has something he thinks is special and he wants to make sure to protect that.  That’s something that 38 has going for it.  He’s got some good talent, although it remains to be seen if they can do something that is at the same time new and enough the same as older games that we easily feel at home there.

Seeing the “Episodic Content” term thrown around again makes me a little nervous.  We all know that the hardcore will render all launch content obsolete as fast as they can, and an order of magnitude faster than any developer thinks they can.  The whole “episodic content” tag connotes a game that is smaller and grows on a regular basis.  If you can name 3 developers that have released this kind of content fast enough to keep up with the community on a regular basis I’ll be impressed.

I’m really rooting for the guys at 38.  I like Curt’s ethic a lot.  I think that some of the things Shwayder has said over at Nerfbat show that he’s not afraid to diverge, but still understands what other gamers like.  And you know that this team is going to be big on emergent play.  I still like the fantasy setting, although some have professed to be over it.

I also like Schilling’s chances.  What he lacks in a business case in today’s market he might be able to make up in determination, cache, and downright passion for the deal.  I think it’s going to take some intangibles for the right deal to get done and for my dollar, I want Curt in that meeting.

I hope they find appropriate financing, and that they go on to do great things.  I can see there are still hurdles there.  Doesn’t hurt to have a rich guy at the helm, that’s for sure.  Would be a lot more comfortable if it were Forbes holding the purse strings though.