EA: "We Failed Well"
EA boss John Riccitiello talks about the company's difficult transition into the current generation of consoles.
According to EA boss John Riccitiello the transition to current generation of consoles was anything but easy for EA. To become a profitable business publishing giant had to go through a radical change or in John's words accept a "shrinking share of a shrinking pie and eventually die".
"We were facing a world going through unbelievable change with the rise of smartphones, social networks, and more recently the iPad - each of which has turned out to be a platform where gaming is the No. 1 application."
"We knew it would be hard but we had no idea how hard."
"We had to do these three hard things when the press and the financial analysts told us we were crazy. That the cutting was great, but the investment in digital was just not a good idea. It proved very hard to hear the negative drumbeat while tackling very hard challenges at work."
"I lost a few friends in the process: smart creative people who just couldn't stomach the transition."
"I wish I could tell you that it has all paid off," he said. "That, like Truman, Jobs and Chambers, we have been fully vindicated. Not yet. Yes, we've had a few wins but there is much more to do.
"I would argue we failed well. We are students of our own failure. We used our failure to shape and impel us to a better strategy. One that we believe that will ultimately succeed in ways that our previous strategy, even if perfectly executed, could never have done... Trust me. Sooner or later, you're going to get knocked on your ass. Will you fold? Or will you fail well?"