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Netflix’s Leadership Shake Up…Explained
(Welcome to the “Most Important Story of the Week”, my bi-weekly strategy column analyzing the most important (but often not buzziest) news story of the last two weeks. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. Please subscribe.) Well, I had a simple article planned for this week. Called “Whoa, I Missed It!”, I’d take a gander at a few important-but-under-the-radar stories I didn’t cover while I wrote about all things “Skydance. (Formerly known as “the saga of Netflix trying to buy Warner Bros., but not Discovery, then Paramount-Skydance bought all of Warner Bros. Discovery”.) Alas, that article will have to wait. Netflix made news. Ironically, my “Whoa, I Missed It!” article would have mostly been about “content” strategy decisions, which is also what today’s article is about. But instead of the entire industry, this article will only cover Netflix’s decision to upend their film and TV content teams. Just that! So that’s the full topic of the day. I’m going to tackle the issue in the opposite direction of the way “stuff” flows: uphill. We’ll start at film, then move onto TV, and then onto the CEOs themselves, and the strategy questions that still remain. But we start with the numbers driving this. Let’s dive in. Subscribe Most Important Story of the Week - Netflix Upends Their Corporate Hierarchy I’ve got a lot of thoughts, but we’ll start with the most common response to yesterday’s article. Let’s Talk Stock Price More than one person, responding to what I published two days ago, pointed out that, well, actually, the thing driving Netflix’s actions is this: In short, stock price! Even if Netflix isn’t obsessed with their own share price—they probably are, but, for the record, my strategic advice to every CEO is to absolutely ignore stock prices, which will, ironically, probably help the stock price long-term—most everyone thinks they are. By the way, I prefer market capitalization to stock prices, because it’s a more apples-to-apples way to compare companies: But there’s an even better way to look at it, and it kinda casts some doubt on the entire push here: price-to-earnings. I have a long list of articles that I wish I had written, and chief among them is an article titled, “Am I Still a Netflix ‘Bear’?” meaning someone who thinks Netflix’s stock is overvalued. As of last summer, Netflix had solved their biggest problem—which for me (circa 2019) was the lack of free cash flow—but their stock was CRAZY overvalued. That’s this chart here: Why did Netflix’s stock price increase to a price-to-earnings ratio of 50 last summer? What financial metric changed so quickly? Nothing. Given that, historically, mature entertainment companies average 10 to 20, with 16 being the average, that increase made little sense. Netflix’s stock swoon these last eight or so months wasn’t irrational; the stock price rise last year was. So if you want a really hot Netflix take, here it is: Netflix’s stock price has been going down because the financial industry recovered its senses, not because of any strategic mistake. Yes, that would imply that cleaning house may have been a mistake. That’s why the charts yesterday are so important, because they show that Netflix did have a strategic problem (a lack of hits) and that’s what they moved to address. (One could also argue the industry drastically overrated Netflix’s growth prospects, but that’s a financial industry problem, not a Netflix strategy problem per se. Some growth estimates are just crazy. *cough* AI *cough*) Now, the last time Netflix’s stock price crashed—circa 2022—it gave them an opening. I’d argue Netflix insiders knew they needed to expand post-COVID-19 crisis, adding advertising, cracking down on password sharing, and dabbling in sports. But if they had done that when their stock price was high, it would give folks a reason to second guess their strategy. (Arguably, last year, when Netflix pursued the Warner Bros. merger, it gave the industry a chance to review their business.) Instead, after the 2022 fall, they had the opening to make strategic changes. We may see Netflix pivot again following this latest slide. For example, the “binge versus weekly” conversation is alive and well again. Same for expanding into theaters even more. And adding both linear channels and streaming bundles. And maybe more either social, user-generated, vertical, or creator content. But the first shift came with who is making the content calls. A Message from Our Sponsor Last winter Pulp Fiction was on Netflix. For those same 90 days, it was also free, with ads, on Pluto TV and the Roku Channel. That is not a glitch, and it is not rare. The title has run on 20 different US streaming services since 2019, across 80 separate windows, and for more than 600 of those days it sat on a paid subscription service and a free ad-supported one at the same time. Almost nobody can see this, because when a title leaves a service, the record that it was ever there tends to leave with it. Reelgood keeps that record, dated to the day rather than the month: 4MM+ movie, show and episode titles across 300+ services globally, with timestamped arrivals, departures and moves across SVOD, AVOD, TVOD and vMVPD. Licensing teams price against every prior window. Rights teams check what a licensee actually delivered, and when. Pick a title you think you know: data.reelgood.com/title-availability Film - Dan Lin Want to know why I don’t opine on individual film or TV executives, especially new hires? Dan Lin. As I always caution, it’s really, really, really tough to predict which executives will succeed in new roles and which won’t. The successful head of co-production/finance partner, Rideback, Lin was considered for the head of DC Studios job before taking the job as the head of Netflix. By all accounts at the time, this was a smart hire. (That’s my read of the news coverage anyways.) But now that Netflix has fired Dan Lin, we got a slew of news stories about how he was doing a terrible job. In sports media, Bryan Curtis, new Substack writer/podcaster from The Ringer, calls this the “now you tell us” story, when you only hear the bad news after a star athlete leaves a sports team. In this case, now they tell us that Dan Lin was bad with talent after he got kicked out the door. So was Dan Lin a flop? It’s actually tough to say. While film moves faster than TV, even two years isn’t really enough time to evaluate a person’s output. The new head hasn’t really taken control. As Emily Horgan noted, it takes much longer than two years to produce animated films, so yeah, it’s definitely too early to judge in that domain. As for live-action films, I just published an article by Brandon Katz called “Netflix’s Summer of Bummer”, but I’d point out Netflix had a bad summer two years ago too. Arguably, their best summer came from KPop Demon Hunters last year and Happy Gilmore 2, the latter of which I saw credited to Lin. Then, the stories came out that Dan Lin clashed with talent, both Ben Affleck and Greta Gerwig, classic “now they tell us” factoids to explain his firing. This may have been true, but also should have been expected given that he was given the mandate to bring budgets back in check, especially after Rebel Moon. So if he made folks upset, well, that’s what he was hired to do! But also, he was described as “well-liked” at his hiring! In that case, I’m a bit sympathetic to Lin, since he may have been undercut by senior leadership, as often happens. Basically, a CEO hires a subordinate to be their “bad cop” and keep budgets in check, but then when talent complains, the CEO ends up undercutting them. That’s how I think you end up with a Narnia movie as expensive as any of the other flops, along with a film executive the town no longer likes. As a result, I think that Netflix is now executing a classic “hire the opposite” move by hiring Peter Rice. This phrase comes from my experience following football and basketball coaching decisions, where teams generally hire the opposite of who they just had. If you have an offense-minded head coach, hire the defensive guy. Or in college football, if you have a strong recruiter, then you pivot to an “X’s and Os” type of guy. Or in pro basketball, if you have a very analytically minded coach, you hire the player-friendly guy. I see that here. After dropping Scott Stuber—arguably a talent-friendly executive with lax budget control—Netflix hired the business guy to keep costs in check. Now Netflix is pivoting back to Peter Rice and presumably a more talent-friendly regime. (Disney, by the way, has done this twice: hiring business guys to succeed talent-friendly Bob Iger. It didn’t work out last time.) When it comes to Peter Rice…we’ll see! Maybe he works out, but maybe he doesn’t. I’d actually say the biggest problem is that Netflix still hasn’t solved its “IP Problem”, in that they don’t own much IP, so they just have a lower hit rate. The new executive won’t solve that. (Though buying Lionsgate would help.) Share “Content” - Bela Bajaria I almost published yesterday’s article after this column, but ended up flipping the order, because it told the story so well. So if you want the data for why Netflix is looking at TV to fix their problems, it’s in that article, this graph in particular: I know I just wrote that it’s often hard to judge executives, but Bajaria ran TV for six years and film for three and a half more. That’s more than enough to judge hit rates, and Netflix needs more hits. That’s the story. Since 2023, Netflix hasn’t had as many hit shows as it used to, and many of its previous power house TV shows have ended their runs (Stranger Things most of all). Also, many shows from 2020 to 2022 probably pre-dated Bajaria’s tenure. (That said, one thing may have been outside of Bajaria’s control, which I explain below.) Let’s lump some content strategy thoughts about Netflix and TV into one place: We’re just getting started with this issue, but the rest is for paid subscribers of the Entertainment Strategy Guy, so if you’d like to find out… Why I partially blame Squid Game for Netflix’s latest troubles… What is “the football trap”... Why it might not be the TV shows or films’ fault at all… What change I don’t think Netflix will make... How Bela Bajaria evolved Netflix’s TV strategy in smart ways… Whose departure likely submarined Bajaria’s final few years… One sneaky explanation for Netflix’s content struggles... And a whole lot more... ...please subscribe! We can only keep doing this great work with your support.
Clarkson University Science Café Series returns to Potsdam this Fall
POTSDAM – Clarkson University’s Science Café series returns to downtown Potsdam this fall, bringing researchers and community members together for informal conversations on topics ranging from …
Thunder’s Micah Peavy Signing Reveals Their Real Priority
By passing on shooters for a defensive-minded specialist, Sam Presti is betting that Oklahoma City’s elite development system can unlock a versatile, two-way force for the future.
Spurs seal rare win at Chelsea as Palmer sees red
Tottenham clinched a Premier League win at Chelsea for just the second time in 36 years as a woeful own goal from Blues keeper Mike Penders was followed by Cole Palmer's red card in Saturday's 2-0 victory.When Palmer's run was halted by Fernandes's handball, the Chelsea star escaped with a yellow card after barging into his rival with such aggression that the Tottenham midfielder was sent crashing to the sodden turf.
Kyrie Irving among questionable players for Saturday's game against Spurs
Kyrie Irving among questionable players for Saturday's game against Spurs
Tulane’s Protection Around Trace Johnson Critical for Win Over UTSA
It will be really important for the Tulane Green Wave to give quarterback Trace Johnson some strong pass protection as they get set to take on the American Conference-leading UTSA Roadrunners at Yulman Stadium on Saturday night.
WWE Icon Ric Flair Shares New Health Update, Photo After Being Hospitalized, 'Focused On My Healing'
WWE Hall of Famer Ric Flair provided a positive health update Saturday after being hospitalized on Friday.
MN Wild in “Very Positive” Talks with DirecTV
Michael Russo dropped a hint Saturday morning that could matter to a lot of MN Wild fans. Here is what he said about DirecTV and where things stand with Wild+.
Chelsea injury latest as Pedro and Martinez miss Spurs
Chelsea star Joao Pedro was left out of the matchday squad for Saturday’s meeting with Tottenham Hotspur at Stamford Bridge after sustaining an injury in training. The forward’s absence is a major...
Where is Joe Rogan? UFC 333 broadcast absence explained
Paul Felder, a former MMA fighter, is filling in for Joe Rogan on the UFC’s commentary team during UFC 333 Saturday, Oct. 24 in Abu Dhabi.
Josh Pate makes surprising Ohio State College Football Playoff admission
Ohio State is 6-1, 4-0 in the Big Ten, ranked No. 3 and coming off a 19-15 win at Indiana last Saturday that snapped the Hoosiers’ 22-game winning streak. Its only loss came at Texas in Week 2, a result that has aged poorly since the Longhorns lost back-to-back games to unranked Oklahoma and Florida. […] The post Josh Pate makes surprising Ohio State College Football Playoff admission appeared first on Gridiron Heroics.
Game thread: Iowa State football versus No. 25 Arizona
Fresh off the bye week, Iowa State (3-3) heads south to battle No. 25 Arizona at Casino Del Sol Stadium. The Cyclones enter the matchup boasting a 23-game 100+ yard rushing streak, led by AP Midseason All-American Aiden Flora (7.56 yards per carry) and veteran quarterback Jaylen Raynor. Date: Saturday, Oct. 24, 2026 Time: 6:30 […]
Timberwolves proves size isn’t everything with historic rebounding surge
The Minnesota Timberwolves may have sacrificed size this offseason, but their first two games suggest they gained something even more valuable: relentless physicality. After reshaping their roster around speed and defensive versatility . Minnesota has opened the season with a franchise-record rebounding margin. The Timberwolves dominated the […] The post Timberwolves proves size isn’t everything with historic rebounding surge appeared first on ClutchPoints.
Political cartoons for October 24
Saturday's political cartoons include America's reflection, a humanitarian ass, and more
Clemson's Road to an Improbable CFP Appearance Starts Now
The Clemson Tigers could start something special against Virginia Tech on Saturday.
How Alzheimer’s and dementia patients teach Wisconsin’s next generation of health care workers
What can someone living with Alzheimer's teach a future doctor or nurse? Quite a lot, it turns out. A unique Wisconsin program pairs UW-Madison students with people in the early stages of Alzheimer's and dementia, turning everyday conversations and outings into lessons no textbook can teach. The friendships are changing how future health care workers understand dementia, while challenging some deeply held misconceptions about what life after a diagnosis really looks like.
Michigan football injury report vs. Indiana: 10 players ruled out
Michigan football faces a depleted roster against Indiana as several key players are ruled out for Saturday.
American politicians talk about persecuted Christians abroad – but here’s what happens when those Christians migrate to the US
An anthropologist of religion shows how Coptic Christians navigate two competing realities: the narrative of Christian persecution abroad and the suspicion surrounding migrants in the contemporary US.
Overnight business fire in Girard under investigation
GIRARD - Multiple departments responded to a business fire early Saturday in Girard.
Whitehaven Fall Festival brings family fun, free health resources
The Shelby County Health Department is hosting the Whitehaven Fall Festival on Saturday to bring the community together and connect residents with helpful resources.
Who is DC Universe's ‘Clayface’ even for?
Not even Naomi Ackie can save this gory DC Universe villain origin that is more focused on setting up the future than earning its scares.
3 X-Factors for Illinois Football Against Oregon on Saturday
Bret Bielema's team has a huge challenge lined up for Saturday afternoon in Champaign.
Is there a new ‘Saturday Night Live’ episode tonight (10/24/26)?
The show is now in its 52nd season.
Country music star accused of satanism rips ‘parasites’ for claims
He is not happy with the claims about the imagery in his show.
Chicago Cubs news— PCA, Bregman, Suzuki, Sato, Zeferjahn
Pete Crow-Armstrong has been named both Sporting News Player of the Year, and The Fielding Bible’s Defensive POY.
Saturday Sports: The World Series; the WNBA finals
NPR's Scott Simon and sports reporter Michele Steele discuss the World Series and the WNBA Finals.
Arsenal Fear Bukayo Saka Injury Could Be Worse Than First Feared
Arsenal could be about to lose one of their most important players for a significant stretch of the season. Bukayo Saka will miss Saturday’s Premier League match against Everton after suffering a thigh injury against Bayern Munich, and the early signs have left Mikel Arteta concerned that the problem could be more serious than first […] The post Arsenal Fear Bukayo Saka Injury Could Be Worse Than First Feared appeared first on HEAVY.
Saturday football open thread
Good morning! Tottenham Hotspur Women are playing in the North London Derby today at the Tottenham Hotspur Stadium, but if you’re not into Spurs Women (weird!) or like watching other Premier League clubs other than Tottenham (super weird!) then this is the thread for you. There’s a trio of Premier League matches today, not including […]
Sixers vs. Bucks preview: How to watch, lineups, broadcast info
The Philadelphia 76ers will play host to the Milwaukee Bucks on Saturday to begin a back-to-back.
Houston vs. Utah: How to watch tonight's NCAA college football game, where to stream and more
How to watch the Utah vs. Houston game this Saturday.
Ole Miss vs. Texas: How to watch tonight's NCAA college football game, where to stream and more
How to watch the Ole Miss vs. Texas game this Saturday.
Many people ignore nerve discomfort. A specialist explains why
A podiatrist explains why many people overlook nerve discomfort and what makes Neuro-Blast different from traditional nerve-support supplements.
Cleveland Browns news: Titans preview, trade babble, and more!
The latest Cleveland Browns news and notes from around the NFL in the October 24 edition of the Saturday Dawg Chow.
City make four changes for trip to Aston Villa
City make four changes for Saturday’s return to Premier League action away at Aston Villa. Men's Team One Moment in Time: Distin's wonder goal at Villa Park Erling Haaland, Marc Guéhi, Jérémy Dok...
Aston Villa and Man City kick off Saturday's PL action
2026-10-24T10:11:48ZFirst up, it's Aston Villa hosting leaders Manchester City. Both clubs head into the early match on the back of resounding midweek wins in Europe. Team news is just around the corn...
Indiana vs. Michigan: How to watch today's NCAA college football game, where to stream and more
How to watch the Indiana vs. Michigan game this Saturday.
Oct. 24 Arts & Entertainment Calendar
Events coming up in the Greenville area offer music, arts, theater and family fun. Here is a sampling. “Today” refers to events scheduled for Saturday, Oct. 24.
France Politics
France's Prime Minister Sebastien Lecornu, right, and France's Urbanity and Decentralisation Minister Francoise Gatel attend a visit at a police station in the context of security and reconstruction efforts after
France Politics
France's Prime Minister Sebastien Lecornu, right, France's Decentralisation Minister Francoise Gatel, left, France's Culture Minister Catherine Pegard, second left and the Mayor of Limoges Guillaume Guerin, center, listen to explanations
France Politics
France's Culture Minister Catherine Pegard, France's Trade Minister Serge Papin, France's Prime Minister Sebastien Lecornu, Mayor of Limoges Guillaume Guerin and France's Decentralisation Minister Francoise Gatel walk during a visit
Where to watch Tennessee-South Carolina football: TV, channel, stream
Tennessee football will play South Carolina on Saturday. Here is how to watch, including time, channel, TV schedule and streaming info.
Brenda Lucas: Community news for Saturday, Oct. 24
Click for community news in the Huntington, West Virginia, and Tri-State area.
Forget Mars, SpaceX’s Most Important Business Has Nothing To Do With Space (At Least For Now)
SpaceX just reported its biggest quarter ever, and the segment driving most of that growth has nothing to do with rockets, satellites, or Mars. One business unit is now pulling in more revenue than Starlink, and it may reshape what SpaceX actually is.
Livramento’s Recovery From Injury Taking Time, Medical Team Being Cautious
St James' Park officials are prioritizing long-term health over immediate availability, refusing to rush the versatile full-back through a rigorous rehabilitation process despite mounting pressure on defensive depth.
How to watch no. 2 BYU Football at UCF
After a great home stand for BYU Football, they’re on the road in Orlando Saturday afternoon to face the UCF Knights. The BYU Cougars rose from no. 8 to no. 2 in the AP Poll this week after knocking off the Notre Dame Fighting Irish. Notre Dame was no. 2 at the time. The final […]
Newtown Health Fair Educates And Supports Community
On October 10, the 31st Newtown Health Fair was held at Newtown Community Center. Scores of guests attended. Flu shots were provided for those who wanted them by Housatonic Valley Health District, and...
Montgomery Earned Another Chance With Rangers for 2027
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AS Roma XI vs Napoli – Predicted lineup and team news
Napoli welcome Roma to Naples on Saturday for their next Serie A fixture, with the visitors aiming to preserve their perfect unbeaten record in the league.Roma have been excellent under Gian Piero Gas...
Obama is set to campaign with Democrats in Ohio and Michigan as he ramps up midterm efforts
Barack Obama is set to campaign with Democrats running for the U.S. Senate in Ohio and Michigan.
Business Briefs for Saturday, Oct. 24, 2026
This week's digest of area business announcements, milestones and news.
Politics Unplugged Podcast: Election countdown with Laura Gersony
With Election Day nearing, Arizona’s congressional races are drawing national attention. Arizona Republic reporter Laura Gersony joins Politics Unplugged to break down the high-stakes fights in AZ-01 and AZ-06, where the House majority could be on the line. The conversation examines whether Republican candidates can separate themselves from President Donald Trump as affordability concerns and negative ads dominate the closing days. The episode also looks at outside spending, Elon Musk-backed turnout efforts and the unexpectedly competitive race involving Rep. Eli Crane in northern Arizona. Plus, Dennis Welch and Colin Stanton discuss Arizona’s statewide races, polling, campaign cash and the Valley’s rough sports week.
Politics Unplugged Podcast: Election countdown with Laura Gersony
With Election Day nearing, Arizona’s congressional races are drawing national attention. Arizona Republic reporter Laura Gersony joins Politics Unplugged to break down the high-stakes fights in AZ-01 and AZ-06, where the House majority could be on the line. The conversation examines whether Republican candidates can separate themselves from President Donald Trump as affordability concerns and negative ads dominate the closing days. The episode also looks at outside spending, Elon Musk-backed turnout efforts and the unexpectedly competitive race involving Rep. Eli Crane in northern Arizona. Plus, Dennis Welch and Colin Stanton discuss Arizona’s statewide races, polling, campaign cash and the Valley’s rough sports week.
Hochul and Blakeman hold dueling campaign events ahead of early voting
Early voting starts on Saturday.
The connection between diabetes, cardio-kidney-metabolic health
University Health specialists will discuss how heart, kidney and metabolic conditions are connected and how coordinated care can help at the next KSAT Community Town Hall
Drake University students say civility comes from open-minded conversations
Drake University students involved with political student organizations discussed political civility on a panel Friday.
Sylvester Stallone addresses his daughter joining him on ‘Tulsa King’: ‘Of course it’s nepotism, you idiot’
Sylvester Stallone is addressing accusations of nepotism as his daughter costars with him on ‘Tulsa King’: ‘Of course it’s nepotism, you idiot. That’s why we’re parents. We want the best for our children.’
Demichelis Plans Leipzig Shakeup After Bayern And Madrid Defeats
Fresh from conceding ten goals in a brutal week, Martín Demichelis will rotate his squad to combat fatigue and neutralize Elversberg’s high-intensity threat on Saturday.
Five things to expect in USC’s road trip to Wisconsin
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Ken Block objects to Foulkes' 'October surprise' Costco announcement
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Science Of Decomposition: Where Fall Fun Meets Real‑World Forensic Science
The Wawasee Area Conservancy Foundation invites the public to a one‑of‑a‑kind Halloween learning experience: Science of Decomposition, Saturday, Oct. 31.
Syracuse Football: Need to Know vs. North Carolina
The Orange are hoping to stop a losing streak on Saturday in Chapel Hill.
Rick Jackson will join Trump at Georgia rally amid slumping GOP turnout
The Republican nominee for governor had initially said he would skip the president's visit to Perry on Saturday, opting to campaign with Gov. Brian Kemp instead.
Carmel India Fall Festival set for Saturday in Gwinnett
The Carmel India Fall Festival will bring a day of food, culture and family-friendly entertainment to the community Saturday, Oct. 24, from 10 a.m. to 6 p.m.
Olivia Wilde's new movie The Invite hits streaming, here's where to watch
Olivia Wilde and Seth Rogen serve up marriage drama and dark comedy in The Invite. Here’s how to stream it now with Sling.
Olivia Wilde's new movie The Invite hits streaming, here's where to watch
Olivia Wilde and Seth Rogen serve up marriage drama and dark comedy in The Invite. Here’s how to stream it now with Sling.
Chelsea Vs Tottenham Preview
Tottenham travel to Stamford Bridge on Saturday, hoping to build on their first Premier League win of the season against a Chelsea side chasing a third straight win. Monday’s 3–1 win over Coventry offered Roberto De Zerbi some relief after a difficult start.
Why ultra-Orthodox parties hold so much sway in Israeli politics
Ultra-Orthodox Jews, often called Haredim, make up a small but growing percentage of Israel’s population. Still, their political parties wield significant influence.
Carney Rejects US Election Interference Claims, Criticizes Trump's Ambassador to Canada
TORONTO (AP) — Canadian Prime Minister Mark Carney said Friday there is “no merit” to U.S. allegations that Canadian politicians are interfering in next month’s U.S. midterm elections, expressing disappointment with Washington’s ambassador over the accusations. Speaking to reporters in Istanbul,
Trump administration sends mixed signals on curbing Ukraine’s Starshield access
Recent efforts to throttle Ukraine's access to satellite systems have created a blame game of sorts among Trump administration officials and their allies
E.C. Biz Owners Think 'Every Saturday' Can Be Small Business Saturday
“Every Saturday,” a new social media campaign, aims to promote exactly that: share a photo at a downtown business, use the hashtag #EverySaturdayEC and – an extra bonus – win $150 in Eau Claire Area Chamber of Commerce eBucks. The new initiative, also supported by Downtown Eau Claire Inc.
Pope hope, that’s entertainment, and getting ahead in the CIA
Happy Friday friends, I want to start by just breathing for all of us a big long collective sigh of relief at the news this week that the pope’s doctors have basically blown the all clear for Leo’s health. Going from knowing nothing to him declaring to the world he needed surgery, to a cancer diagnosis, to bouncing out of the hospital in barely even days, to ringing the bell in less than two weeks is whiplash inducing. But in the best possible way. We are living in a world in which the Roman pontiff, by dint of history, biography and circumstance, is once more at the epicenter of global affairs. Not just conversations about religion, or Christian and post-Christian values, but the bleeding edge of the most pressing issues of human affairs. Think I am exaggerating a touch? Consider the images of the crowds who greeted Leo in Paris just weeks ago, and juxtapose them with the absolute photo negative scenes unfolding there recently. Ask yourself how many world leaders are talking about AI right now and directly citing the pope as they do so. Try to name a country who has had as many top-ranked diplomats in and out of both Russia and Ukraine in the last three years as the Vatican has in the last three months. It has been fascinating to watch Leo XIV emerge as not just a kind of pop culture reference point or totem to be cited (Francis was often name-checked this way) but as a kinetic force in global conversation. Given the state of things, we need global figures of gravitas and values, even better if they have real wisdom behind what they are saying. So news of Leo’s illness was, it seemed to me, a tremor with potentially Richter Scale implications. That not only has the worst not come to pass but instead we’ve had the best of outcomes announced is something to really be grateful for. Humanity, it seems to me, is entering one of its irregular but cyclical phases where the pace of change — technological, social, and geopolitical — outstrips the ability of previously settled norms and received wisdom to cope. Such periods – and I think the first decades of the last century were a similar such time – throw into question the viability of all kinds of institutions. And many of ours have been straining to breaking point for a few years now. The papacy has the power and the potential to be a steadying pole in all of this. That’s my hope, anyway. It’s a lot to freight the office with, though it is arguably its ultimate purpose from its founding, to be a steadying rock on which all that matters can be anchored. It’s also, of course, an intolerable weight of responsibility to place on a single man. But I am encouraged to have hope in – and for – Leo. The apostle whom he succeeds, after all, was famously unequal to some moments, failed some tests of faith, and resiled from taking the road which led ultimately to the circus on Vatican hill. Human frailty and limitations, of health, of character, of temper, can open us to Christ, whose strength is greatest in our weakness, so St. Paul learned. That gives me hope, and I am sure it consoles Leo, too. And so I will continue to pray for him. Because we need apostles of rock right now. Here’s the news. Subscribe The News The Dicastery for the Doctrine of the Faith issued yesterday a new document “Venite ad me: Considerations on the Transmission of the Faith in an Epochal Change.” It’s not a short document, and it is at pains to stress this isn’t a doctrinal note from the dicastery, either. Rather, it brings together reflections on an important issue from the Church around the world. Some of it I actually found really rather powerful. It is, however, 25,000, which is a lot for a busy reader to get through on a weekday. So, you can read our busy reader’s summary right here. — News broke yesterday of an Oct. 22 meeting of U.S. bishops with President Donald Trump. The meeting was organized by an official at the Heritage Foundation, according to several sources close to the meeting. Video of several U.S. bishops praying in the Oval Office over President Trump was posted on social media Thursday afternoon, first by White House Communications Advisor Margo Martin, and then by the official twitter.com account of the Archdiocese of Denver. The meeting has drawn sharp criticism because of its proximity to the upcoming midterm Congressional elections, in which Democrats are widely expected to win control of the House of Representatives, while control of the Senate remains closely contested. Sources close to the bishops’ conference told The Pillar that some USCCB senior officials were surprised by the existence of the meeting when video of it first emerged online. And a source close to conference president Archbishop Paul Coakley of Oklahoma City told The Pillar that the archbishop was “deeply frustrated” by the occasion of the meeting. An official conference spokesperson told The Pillar that the meeting was “not organized with or by the USCCB” and was “not affiliated with the conference.” You can read the whole story here. — The next National Eucharistic Congress will be held in Indianapolis in 2029, a return to the city that hosted the last gathering in 2024. You read it here first. By here, I don’t mean this newsletter, I mean at The Pillar. We broke the story this week. It’s a big deal, in as much as the last congress was a roaring success and the next installment has the potential to be a real focal point for evangelizing efforts in the coming years. Read all about it here. — As Pope Leo prepares for the longest trip of his pontificate, Church leaders in Uruguay say the pontiff will encounter a highly secularized culture, in a country with a very different Catholic history than many of its South American neighbors. The nation has not had a papal visit since 1988, and leaders who spoke with The Pillar say it has a dire need for evangelization, even amid the prospect of a small revival in faith. This is real reporting on the Church in the country, and frankly a story you simply are not going to be able to read anywhere else. Read the whole thing. — The Archdiocese of Detroit announced this week a plan that would see the vast majority of its parish priests reassigned next summer, amid a restructuring process expected to dramatically shrink the number of parishes in the archdiocese. Archbishop Edward Weisenburger said this week that the plan “asks much of our priests,” but is a “sacrifice they are making as brothers of one, unified presbyterate.” The thing is, as JD pointed out in an analysis yesterday, pastors of parishes have a legal right to stability in office, so the only way this kind of wholesale reassignment goes ahead is if all of the archdiocesan clergy agree to resign. That creates its own kind of legal issues, though, and re-raises longstanding questions about the effectiveness of canonical due process protections for priests when dealing with coercive exercises in authority. Read the whole thing here. — More than three months after the Dicastery for the Doctrine of the Faith issued its decree declaring the excommunication of the leadership of the Society of St. Pius X, questions remain about the full effects of the society’s schism. Specifically, the DDF’s July claim that marriages witnessed and confessions heard by SSPX priests are now invalid remains contested — and it emerged this week it appears that the Vatican’s own legal experts don’t agree. You can read my whole analysis of the situation and what it means here. All I would add is that the DDF’s undeveloped, some would say unsubstantiated, claim about the invalidity of some SSPX sacraments came in their July Explanatory Note on the schismatic consecrations by the society that month. It touches directly on both papal acts of governance — indeed it purports to nullify them — and the most intimate pastoral encounters possible in a parish setting. If there is one aspect of the Francis-era style of governance I would like the curia to finally cut out, root and branch, it would be these attempts to try to effect extraordinarily sensitive legislative acts via a note. — At least a dozen French bishops have spoken out following an eruption of violence on the country’s streets Oct. 17. Not surprisingly, they unanimously condemned the violence, but the length and content of their interventions varied significantly. Several sought to distinguish between the actions of rioters and what they suggested were the legitimate concerns of peaceful young protesters. Many also evoked Pope Leo XIV’s Sept. 25-28 visit to France, suggesting it offered a powerful counter-image to the scenes of looting and destruction. A number of bishops also stressed their solidarity with law enforcement officials who struggled to contain the disorder, as well as the owners of the roughly 3,000 damaged or looted businesses. What’s the background to the nationwide unrest that the French media calls “les violences du 17 octobre”? And what exactly are the bishops saying? Read all about it here. — A Polish bishop called for the firm defense of unborn children as well as compassion for their mothers this week, as the lower house of Poland’s parliament passed two bills seeking to liberalize the country’s abortion laws. The bill on decriminalizing assistance in an abortion passed by 217 votes to 213, while the abortion in cases of fetal abnormality bill passed by 233 to 203, thanks to the government’s majority in the lower house. Both bills will now move to the Polish Senate, the upper house of parliament, where the ruling coalition has a larger majority. The fetal abnormality bill is symbolically significant because if it became law, it would effectively overturn a 2020 ruling by Poland’s Constitutional Tribunal that a 1993 law permitting abortion for a severe and irreversible disability or a life-threatening incurable disease was unconstitutional. Read the whole story here. Subscribe **[The St. Paul Center App | Bible Study On-The-Go Read and understand the Bible with St. Paul Center’s new app! With today’s leading Catholic Scripture scholars as your guides, the St. Paul Center app empowers you to read the Bible](https://stpaulcenter.com/app?utm_source=pillar&utm_medium=email&utm_campaign=applaunch)** from the heart of the Church. Download the app for free at either the Apple or the Google app stores. https://stpaulcenter.com/app That’s entertainment I have written before about my deep and sincere reservations about the celebrity exorcist subculture which has taken root in American Catholicism. And, because I am very ill at ease with the entire thing, I try to keep a weather eye on the phenomenon without being drawn into the kind of online back-and-forth which these figures sometimes generate. Earlier this week, JD noted that one such celebrity exorcist type, Fr. Chad Ripperger, has undertaken, on the request of his bishop, a year’s fast from interviews and public speaking. I’m sure that will be salutary for him, if for no other reason than that receiving with docility requests from one’s rightful ecclesiastical superiors always comes with graces. Then a second thing happened this week which caught my eye. Apparently, another fixture in the celebrity exorcist world, Fr. Carlos Martins, has initiated a lawsuit against two lay men — apparently associates of Rippenger, though I am unclear in what way, exactly — for allegedly defaming him and his ministry on a podcast. It seems the suit was initiated nearly a year ago and is now pending. At issue, I read, is that the two men described Martins on a podcast as “not who he says he is” with regard to his exorcism ministry and that he “doesn’t know what he’s talking about.” These statements Martins considers to be false and defamatory and, his suit claims, “directly affected the sale and reception of [his] The Exorcist Files book that was newly released at the time these episodes aired.” I don’t want to get too into the weeds of the details here, but a couple of things struck me about all this.
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More Than a Charcuterie Board: A Mother and Daughter Build a Business Around Gathering.
The Bar Harbor Story is generously sponsored by Birch Bay Retirement Village. NORTHEAST HARBOR—Food’s ability to be a social cornerstone is one of the founding premises of one of Mount Desert Island’s newest, and perhaps most unique, endeavors in cuisine based catering. From intimate gatherings to large functions, Olive & Pearl creates charcuterie boards that can not only astound the tongue but also the eye. Many would agree that food can bring people together. In fact, culinary delights, and sometimes adventures, have been utilized as the centerpiece for social and business occasions of all kinds for centuries. Often times it even has the ability to start conversation, temper differences, and build new relationships. Settings can vary, from a multi-course sit down meal, a backyard barbecue, or a couple of bowls of chips and dip in front of a television, but the result can be the same. Humans come together, they share food, and the whole process is a catalyst for thought, communication, and a shared experience. Imagined and created by the mother and daughter team of Dr. Susan Scanlan (formerly MacCready) and Kayla Musetti, Olive & Pearl was started in June of this year and has been creating, delighting, and growing since. We gave the two an opportunity to answer some questions about themselves and their new venture. The love, passion, and pride for what they are doing and the fact that they are doing it as a mother and daughter team came through so strongly in their answers that we decided to present the question and answer session in its entirety. The Interview What did you do prior to Olive & Pearl? We’re a mother-daughter team, and food, family, and hospitality have always been a big part of our lives. Susan grew up in a large family in Pennsylvania, where the table was always at the center of everything. There were multiple dishes, little bites, stories, and plenty of conversation. Food was never simply about eating. It was about gathering, celebrating, and spending time together. After living in several Southern states, Susan relocated to Maine more than 20 years ago, and Maine has truly become home. She loves its sense of community, natural beauty, and connection to local food and makers. Professionally, Susan is a registered nurse and holds a doctorate in health administration. She has worked in a variety of clinical, nonclinical, and leadership roles and currently works as a faculty academic director. Building Olive & Pearl has been an exciting creative venture alongside her career. Kayla is also a registered nurse and works in the ambulatory surgery unit at Mount Desert Island Hospital. While healthcare is an important part of both of our professional lives, Olive & Pearl has given us an entirely different way to connect, collaborate, and create something together. Tell us about the business. Olive & Pearl is a mother-daughter charcuterie business centered around beautiful food, thoughtful presentation, and bringing people together. We create curated charcuterie boards designed for everything from intimate gatherings and dinner parties to weddings, showers, corporate events, boat days, and celebrations of all kinds. We think of our boards as more than food. They’re an experience and an invitation to gather, slow down, and enjoy time with the people around you. We’re intentional about quality ingredients, artful presentation, and personalization. Whenever possible, we also incorporate Maine-made and locally sourced products, including cheeses, jams, honey, seasonal produce, and baked goods. What inspired you to start Olive & Pearl? In many ways, Olive & Pearl grew out of something we had been doing our entire lives —bringing people together around food. We’ve always loved creating beautiful spreads for family and friends. There was something special about watching people gather around a table, graze, talk, laugh, and simply enjoy being together. Friends and family began telling us, “You should do this as a business,” and one day, we stopped laughing it off and started mapping it out. We realized we had an opportunity to combine our different strengths and create something that reflected what we both value: hospitality, creativity, quality, and connection. Charcuterie felt like the perfect expression of that. It’s beautiful and creative, but it’s also communal and approachable. At its heart, it brings us right back to where the idea began, a table filled with food and people gathered around it. Do you have a business partner(s)? Our business partner is each other! Olive & Pearl is truly a mother-daughter partnership, and building it together has been incredibly meaningful and sometimes hilarious! We know each other extremely well, which can be both a strength and, occasionally, a challenge. We have different personalities and strengths, but we’ve learned to lean into those differences and use them to our advantage. There’s a lot of trust between us, and we’ve learned how to communicate, collaborate, and occasionally laugh at ourselves along the way. We’re also building Olive & Pearl while continuing our careers in healthcare and education, so we’re taking things thoughtfully and growing the business one step at a time. We all have to start somewhere. One of the most rewarding parts has been having something that belongs to both of us. We get to learn from one another, celebrate the small wins together, and create something that we hope will become part of our family’s story for years to come. When exactly did you launch the business? Recently, in June 2026, we launched Olive & Pearl, turning an idea we had talked about for years into real business. It has been incredibly rewarding to watch something that started around our own family table and begin to find a place within the community. How is it going so far? How do you feel it has been received? It has been going very well, and we’ve been incredibly encouraged by how warmly Olive & Pearl has been received. As more people hear about us, our orders have continued to increase, and we’re seeing growing interest in boards for events and celebrations. It’s exciting to watch something that began as an idea between the two of us start to grow within the community. One of the most rewarding parts is hearing from customers after their events or seeing photos of our boards being enjoyed. Knowing that something we created became part of someone’s celebration is incredibly meaningful to us. Is there a brick-and-mortar location or is it all online? Olive & Pearl is currently an online business. We’re intentionally starting this way so we can build relationships with our customers, learn what they love, and grow thoughtfully. Our long-term dream, if the business continues to grow, is to eventually have a sit-down space where people can experience Olive & Pearl in person. Do you have any future plans if things go well/keep going well? Absolutely. For now, our focus is on continuing to grow Olive & Pearl, getting to know our customers, and becoming part of more celebrations and gatherings throughout the area. Long term, we would love to have our own physical space where people can come together and experience Olive & Pearl beyond the boards themselves. We can imagine a place that combines food, hospitality, creativity, and community. Ultimately, we want to build something that continues to grow while still feeling personal and connected to the people and community around us. Is there an aspect of the business that you really love? There are so many things we love about it, but the people and the connection are probably at the top of the list. We love creating something beautiful, but what really matters to us is what happens after we hand it over to the customer. We picture our boards on kitchen islands, at backyard gatherings, on boats, at weddings, or around a long dinner table—with people laughing, talking, and lingering a little longer. We also love the creative side. Every board is an opportunity to play with color, texture, shape, seasonality, and flavor. We don’t just want to fill a board, we want to curate an experience. And supporting local makers is especially meaningful to us. Whenever possible, we love incorporating Maine-made cheeses, local jams and honey, seasonal produce, and products from nearby bakeries and businesses. It allows us to showcase some of what makes Maine so special. Perhaps most importantly, we love doing this together. Building something as a mother and daughter has given us another way to spend time together, learn from one another, celebrate small wins, and create memories. Is there anything regarding any aspect of Olive & Pearl that you may think is important that is not reflected on the website? One thing that may not always come through online is just how personal this business is to us. Olive & Pearl isn’t something we created simply because charcuterie was popular. It grew very naturally from our family, our traditions, and the way we’ve always enjoyed gathering with people we love. There is a lot of heart behind every board. We think about the people who will be enjoying it, the occasion they’re celebrating, and how we can make the experience feel special. We also want people to know that we care deeply about supporting locals whenever possible. Using Maine products isn’t just about sourcing ingredients, it’s about telling a little story about where we live and the talented people who make and grow wonderful things here. Is there anything that we have not asked that you think is important/relevant that would like readers to know? We hope people see Olive & Pearl as more than just a charcuterie business. At its heart, it’s about gathering. Our goal is to make it easier for people to create those moments when everyone gathers around the table, conversations last a little longer, and people simply enjoy being together. We also hope people see the mother-daughter story behind the business. We’re building Olive & Pearl alongside our careers, one step at a time, and there is something incredibly special about creating a shared family legacy in the process. For us, success isn’t just about how many boards we make. It’s about becoming part of people’s special moments - birthdays, weddings, weekends with friends, quiet evenings at home, or a beautiful day on the Maine coast. If one of our boards helps people put down their phones, linger a little longer, laugh a little more, and enjoy the people around them, then we feel like we’ve done exactly what we set out to do. All photos courtesy of Olive & Pearl. LINKS TO LEARN MORE Olive & Pearl website Olive & Pearl Facebook Olive & Pearl Instagram RECENT PRESS RELEASES AND BRIEFS To see all the press releases, click here. To see our news, click here. For the full archive, click here. All of these are on our dedicated website. [ ](https://barharborstory.substack.com/p/pemetic-students-share-thoughts-on) [ Pemetic Students Share Thoughts on Declaration of Independence Oct 22 ](https://barharborstory.substack.com/p/pemetic-students-share-thoughts-on) [ Read full story ](https://barharborstory.substack.com/p/pemetic-students-share-thoughts-on) [ ](https://barharborstory.substack.com/p/fall-festival-at-the-noreaster-for) [ Fall Festival at the Nor’Easter for Mount Desert Nursery School, October 24. Oct 22 ](https://barharborstory.substack.com/p/fall-festival-at-the-noreaster-for) [ Read full story ](https://barharborstory.substack.com/p/fall-festival-at-the-noreaster-for) [ ](https://barharborstory.substack.com/p/explore-career-opportunities-where) [ Explore career opportunities where you make a difference for Maine’s natural resources—and the people who enjoy them. Oct 22 ](https://barharborstory.substack.com/p/explore-career-opportunities-where) [ Read full story ](https://barharborstory.substack.com/p/explore-career-opportunities-where) [ Cranberry Isles Comprehensive Plan Committee Oct 22 ](https://barharborstory.substack.com/p/cranberry-isles-comprehensive-plan) [ Read full story ](https://barharborstory.substack.com/p/cranberry-isles-comprehensive-plan) [ ](https://barharborstory.substack.com/p/community-school-hosts-a-pancake) [ Community School Hosts a Pancake Breakfast Fundraiser October 25! Oct 22 ](https://barharborstory.substack.com/p/community-school-hosts-a-pancake) [ Read full story ](https://barharborstory.substack.com/p/community-school-hosts-a-pancake) HELP SUPPORT THE BAR HARBOR STORY When we started The Bar Harbor Story, we didn’t know if anyone would read it. But you showed up. You shared. You sent tips. Now—over 400,000 views every month later—it’s clear: people here care about their community and each other. We’ve kept everything free because news should never be out of reach, but every one of our stories takes time to write, and your support keeps The Bar Harbor Story going. If you value our work, please consider a paid subscription, a founding membership, or a sponsorship. It truly helps us cover one more meeting, tell one more story, shine one more light. Even $5 a month makes a difference. Click here to become a one-time supporter now. Thank you so much for being here. Founding member information can be found here. Have questions about sponsorships? Just send Shaun an email at sfarrar86@gmail.com, he’d love to hear from you. Subscribe Share Bar Harbor Story Share Leave a comment
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Official statement
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How well have past GOTY winners sold?
We’re less than two months away from 2026’s The Game Awards, and what a year it’s been for fantastic games, including Resident Evil Requiem, Forza Horizon 6, Slay the Spire II, the Blood of Dawnwalker, and Control Resonant – just to name a few. So as we approach the end of the year, we thought we’d look back on our estimates for the GOTY winners of the past four years. In terms of revenue, Elden Ring (2022 winner), Baldur’s Gate 3 (2023), Astro Bot (2024), and Expedition 33 (2025) have generated a combined $3.8B via 73M copies sold: Let’s have a look, then. Elden Ring has generated $2B in revenue Elden Ring is a phenomenon in every sense. It’s sold a whopping 36.4M copies across Steam (50%), PS5 (35%), and Xbox (15% across console and PC). Want more free estimates and insights in your inbox twice a week? Subscribe below! Subscribe Elden Ring also just passed an astronomical milestone: $2B in revenue. While PlayStation and Xbox account for half of Elden Ring’s copies sold across these three platforms, they account for 57.5% of revenue. This – as ever – is due to regional pricing and the higher relative share of PC gamers in lower-priced markets. For example, around 17.4% of Elden Ring’s Steam copies sold were in China, where the game costs about 26% less than the price in the States. There’s an … interesting narrative going around these days that console gamers are only interested in ball-and-gun games and have the patience for little else. Well, Elden Ring’s impressive sales prove that is simply not true, and across all platforms. What’s more, over 9.8M people have played Elden Ring for over 100 hours, with nearly 3.5M people getting all of the achievements and trophies. For reference, 10.9% of Elden Ring’s PlayStation players have the platinum trophy, while 10.5% of players on Steam and 3.9% of Xbox players unlocked all the achievements. Git gud, Xbox players! Of the 1.5M people who played Elden Ring on PlayStation last month, 4% also played Dark Souls 3 last month, 4% played Bloodborne, and 3% played Sekiro. There’s those Soulsborne diehards for you. By many accounts, including my own, Elden Ring is one of the best games of all time. It’s an evergreen seller that will continue to be a cash cow for Bandai and FromSoftware for years to come. Want more free estimates and insights in your inbox twice a week? Subscribe below! Subscribe Elden Ring has sold another 2M copies across Steam, PlayStation, and Xbox this year, generating almost $110M. This means it’s outperforming many of this year’s high-profile releases. Even Elden Ring’s standalone run-based PvE spinoff, 2025’s Nightreign, has sold 7.8M copies and generated $282M in revenue. Baldur’s Gate 3 is another billion-dollar-plus banger Another cross-platform phenomenon is Baldur’s Gate 3, which has sold 23.2M copies and generated over $1.2B in revenue. About 18.7M of these copies (80.6%) are via Steam, 2.9M via PS5 (12.7%), and 1.6M (6.8%) via Xbox. Around 1.3M folks on Steam bought BG3 before it hit 1.0. The PlayStation version launched about a month after the PC 1.0 release, while the Xbox version came four months later due to technical issues around developing local co-op on the Series S. Want more free estimates and insights in your inbox twice a week? Subscribe below! Subscribe Across platforms, Baldur’s Gate 3’s monthly active users have never dropped below 2M, including 2.2M MAUs last month (68.5% on Steam, 21.9% on PS5, and 9.6% on Xbox). And it still regularly brings in 280K to 400K players every day: About 1% of BG3’s Steam player base has played for over 500 hours! That’s a little under 200K people. Astro Bot is also an evergreen seller, albeit a more niche, family one Astro Bot, 2024’s winner, has now sold 4.7M copies and generated $291M in revenue. The budget, including marketing, is almost certainly under $100M, given the small Japan-based core team and three-year dev timeline. You can really see why the tides are changing toward less expensive hubs. Astro Bot is the only first-party winner on this list, but follows other first-party winners of The Last of Us Part II (2020’s winner), God of War (2018), and Breath of the Wild (2017). Around 46.6% of Astro Bot’s copies sold have been physical, which is far higher than the typical game. This makes sense for a couple of reasons: There’s a large family audience for this one, and physical boxes are an item to wrap when giving Astro as a gift. Astro has collector value for the PlayStation core (this is nostalgia-fueled platformer celebrating PlayStation’s history) Want more free estimates and insights in your inbox twice a week? Subscribe below! Subscribe Astro is another one of those games that continues selling over time, regularly selling more than 100K a month. It’s sold around 1M more copies this year ($60M in revenue) and is a popular title with families. We can see this using the Alinea platform’s MAU crossover tool: Astro Bot’s top #2, #3, and #4 games by crossover in any given month this year are Minecraft, Fortnite, and Roblox – without fail. The #1 title every month, though, is Astro’s Playroom, a pack-in with all PS5 consoles. For every month this year, between 20% and 30% of Astro Bot players also played Astro’s Playroom that month. So the free pack-in is a noice funnel for converting players to a full paid product. Expedition 33 sells 8.7M despite Game Pass cannibalisation Finally, we have last year’s winner – Expedition 33. The turn-based-RPG banger has generated $366M via 8.7M copies sold, with 58.8% on Steam, 35.7% on PS5, and 5.5% on Xbox. Xbox’s share of copies sold is this low due to Expedition 33 launching on Game Pass, where 4.3M people across console and PC accessed the game. A little under 700K Xbox players used their subscription to play Expedition 33 this year. That said, the game’s 1.5-year Game Pass deal ended last week on October 16, and we’re already beginning to see a positive trend on Expedition 33’s copies sold via Xbox (but the jury’s still out!). There’s understandably a lot of French pride behind this one, as France is the game’s #3 market on both Steam and PlayStation. Vive la France! One thing that stood out to me is that the GOTY winners aren’t $300M Hollywood productions made in the US. They’re mostly mid-budget studios outside the traditional AAA cost centres. Lots to think about there. Also, good games sell well; who’d have thunk it!? And there’s a whole load of them this year, with GTA 6 still to come, too. GTA just made the cutoff point for the VGAs this year. What a coincidence! Loading... Cool links and other stuff Our physical games newsletter from Tuesday was picked up by GameSpot, Eurogamer, TweakTown, and a bunch of others. We’re offering a free trial of our platform for games companies. Send us a message here, or reply right here on Substack/email, and we’ll set you up. Next week, we’ve got some exciting news regarding the future of our newsletter, so stay tuned! The last word Reply to this email – or reach out here – if you have any feedback for the newsletter – or want to request a game for us to cover. Want to see why these companies (and many others) are subscribed to Alinea? Get a free platform trial! [Alinea Analytics boasts the most accurate PC and console estimates in the business. Game makers use our platform to understand their audience, keep an eye on the competition, monitor sales trends, and spot new opportunities. We equip game studios and financial institutions with accurate data and the confidence to make smarter, data-driven decisions. Want to talk about all things games market data? We’d love to chat!]
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Introspection required if EU Inc fails, says start-up lobbyist
European start-ups have a new voice in Brussels. Startups for Europe, created from the merger of lobby groups Allied for Startups and the European Startup Network, is hoping to harness the momentum behind EU-Inc, a campaign that united start-ups and investors behind demands for a new pan-European company regime.At a launch event for the new association in Brussels on October 1, the mood was remarkably upbeat compared to a typical Eurobubble gathering, more Silicon Valley than Schuman roundabout.When asked whether this reflects a feeling that Europe is on the right track, chief executive Serena Borbotti-Frison said it’s a “scary” moment as the continent looks to boost its competitiveness amid a new technological arms race.“What is at stake is quite intense, and the way we can answer is by delivering, but also with hope,” she told Science|Business. “It’s what our industry does. It’s not about identifying a pain point and then saying it’s too hard.”For many in the start-up community, that sense of hope is dwindling. In March, the European Commission presented its proposal for EU Inc, naming its initiative after the grassroots campaign.EU Inc was meant to be a gamechanger: the ability to incorporate within 48 hours for less than €100 and scale up across Europe; a harmonised stock option regime enabling start-ups to compete for talent; and simplified insolvency procedures for innovative start-ups to reduce the cost of failure.However, haggling by EU governments has raised concerns that EU Inc will be stripped of the very features, including stock option harmonisation, that are meant to make it attractive for companies.“I fear we are proving to ourselves that the model doesn’t work,” Borbotti-Frison said of the policymaking process. “Everyone agrees we should have EU Inc. Everyone agrees it’s hard to scale and we need to scale to answer the competitiveness [challenge], and still we cannot deliver? [. . .] What does that say about ourselves?”The Commission has made EU Inc a cornerstone of its single market reform, and has agreed with the European Parliament and the Council of the EU to target an agreement by the end of 2026. However, several points are currently holding up an agreement, including national rules around employee participation in management decisions, and the provision that employee stock options always be taxed at the point of sale. Some EU governments have reportedly pushed back on the Commission’s choice of legal basis, contending that anything related to taxation requires unanimity in the Council.Trade unions have also protested against EU Inc, fearing it will be exploited by companies looking to undermine workers’ rights.“If this doesn’t work, it’s introspection time, on the way our institutions work, maybe the way our lobbies work, and maybe the way the cooperation between them works,” Borbotti-Frison said.“Is it in the national interest? Is it a gap between political will and technical ability to operate? Is it speed? I don't know, but something needs to be fixed.”Ahead of last week’s European Council meeting, EU-Inc campaigners tried a new strategy: appealing directly to EU presidents and prime ministers. In an open letter, they urged EU leaders to “step in and give your negotiating teams a clear mandate to change course and reverse their objections to the Commission’s original proposal.”Lessons from EU-IncLike its predecessors, Startups for Europe will represent national start-up associations, but it is also targeting investors. The founding sponsors are venture capital firm Atomico and EQT, the investor selected earlier this year to manage the €5 billion Scaleup Europe Fund.It also wants to harness the knowledge and cross-border experience of European success stories. “Take the list of the 100 biggest unicorns in Europe. We are speaking to all of them,” Borbotti-Frison said. The association plans to publish a full list of supporters following the Slush tech conference in Helsinki in November.Andreas Klinger and Simon Schaefer, two key figures in the EU-Inc campaign, are both on the board of the new association, and Startups for Europe wants to take the lessons from their campaign.What was unprecedented about EU-Inc was “how rooted it was, and how strong it was in bringing everyone on board behind one clear pain point and solution to fix it,” Borbotti-Frison said. “This is an inspiration for us, and then we need to turn it into something more systematic, more bridged in Brussels, more connected to the policymaking game, and to scale it.”If it’s possible to unite such a broad coalition, it’s because the European start-up ecosystem is now mature, she said. “Maybe it was not ten years ago. Maybe it was not five years ago. But now, it’s mature to speak with one voice.”Open and liberal EuropeThe association plans to campaign on files related to three “pain points,” Borbotti-Frison said: “start and scale in Europe, fundraise and invest in Europe, and making Europe the most innovative continent.”As well as EU Inc, she cited public procurement, the EU’s simplification push, the Savings and Investments Union, and files related to AI adoption and technological sovereignty as priorities for the coming months.What these files have in common is that they relate not to subsidies but to the framework conditions influencing the availability of mostly private, or in the case of procurement, public, funding.Related articlesEmployee participation disagreement delays MEPs’ vote on EU IncCommission urges EU governments not to water down EU IncEU’s ‘ultra-fast’ €5B scale-up fund is set up to win, says its fund managerThe budget dispute over the next Horizon Europe programme will also impact start-ups, which are supported notably through the European Innovation Council. But EU innovation funding is a drop in the ocean compared to venture capital and public procurement budgets.“If competitiveness and innovation are a priority, then the [EU budget] should reflect it,” Borbotti-Frison said. However, she added that the main question is not how much public money is invested, but “how do we create the right conditions for the market to solve the problem?”The Scaleup Europe Fund mixes both approaches, using €1 billion in EU funding to crowd in private investors and address Europe’s lack of large-scale, late-stage growth funds. “It’s a proof of concept. Ideally, then the market will do it itself,” Borbotti-Frison said.Startups for Europe is also focused on bringing an alternative political narrative. Amid competing visions for open, global markets on the one side and a protectionist Europe on the other, it wants to offer “a third voice, to say we can be proudly European and build a strong continent in a liberal economy, open to the world, and global.”It can be tempting, when thinking about how Europe can better support innovation, to look across the Atlantic. But while it’s important to compare statistics to see where Europe needs to catch up, that’s where the comparison should stop, Borbotti-Frison said. “On everything else, we need to do it our own way. We don't have the same history. We don't have the same political model. We don't have the same way of life.”Many of the key files that could benefit the start-up community, including EU Inc and the Savings and Investments Union, rely on closer integration within Europe, making it easier to operate across borders.While the Commission has made deepening the single market a political priority, support at national level is more precarious. The coming months will see pivotal elections in Spain and France, while the German government has also been coming under pressure domestically. In each country, far-right parties have been gaining ground.When asked if she was concerned the political situation could jeopardise this progress, Borbotti-Frison responded: “Of course. I would be lying if I said I wasn’t.” However, she continues to believe that cooperation is the only way forward. “Doing it alone is not the solution. It’s also not who we are, it’s not the model we are building, and it’s not the scale we need.”
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AI as the next political divide
We have a guest post today from our friends at Focaldata, with whom we have done polling before. They have been doing a lot of work on attitudes towards AI and how this is affecting politics on both sides of the Atlantic. In this post, they explore exclusive new polling – with a whole set of fascinating charts on how voters’ views are developing and why. In particular, the authors explore why the debate is currently so much more polarised by party in the US than in the UK, to the benefit of the Democrats. Subscribe Focaldata HQ is located in Shoreditch, east London. To access the office from the Shoreditch High Street Overground station, you have to walk under the bridge at Braithwaite Street. We mention this not as a navigational aid, but because the posters above caught our eye over the summer. Since June, the area has been the centre of a fiercely contested debate around the construction of a data centre on the Truman Brewery estate on Brick Lane, less than 200 metres from our office. It was one of the first ‘US-style’ protest movements around AI data centres the country has seen, and may not be the last. These protests served as the catalyst for our forthcoming report, examining whether AI could become the next political divide on both sides of the Atlantic. We wanted to understand what was driving the emerging politics of AI and whether the dynamics at play in the US offer clues as to how the British debate will evolve. Over the last month, we polled 3,851 people across the UK and US about their views on AI. Our research found striking similarities between the two countries: for instance, both electorates are evenly split on their views towards AI development, with just over a third in favour (37% in each country), a similar number opposed, and the remainder somewhere in the middle or unsure. Statistically speaking, there is no difference in overall sentiment towards AI between the UK and US. Under the hood, demographic patterns also look largely the same in the two countries, with millennials, degree holders, full-time workers and those who describe themselves as financially comfortable more pro-AI than the rest of the country. Despite this convergence in overall attitudes, there is a striking divergence in how much of a politicised issue AI has become. In the US, attitudes are increasingly split by political affiliation and the issue has become the latest front in the seemingly interminable culture war, playing a role in the upcoming midterms. This stark political polarisation of AI has not happened in the UK – at least not yet. In what follows, we test several hypotheses for why the two countries are so far apart on a political basis. Understanding which hypothesis is correct will give us an indication of where the British dynamics go next.