Sierra was captured, then killed, by an accounting fraud (2020)
Article & Site Reception
- Several readers found the piece compelling but criticized it as overly long, repetitive, and “burying the lede” compared to traditional inverted-pyramid news.
- Others defended it as appropriate long-form journalism, especially for those emotionally invested in Sierra.
- Multiple comments complained that Vice’s ad-heavy, jumpy layout made the article difficult to read, prompting use of ad blockers, reader modes, or PDF printing.
Sierra’s Legacy & Nostalgia
- Strong nostalgia for Sierra’s adventure games (King’s Quest, Police Quest, Space Quest, Quest for Glory, Leisure Suit Larry, Gabriel Knight, etc.).
- Many credit these games with shaping their childhoods, teaching logic, reading, or typing.
- Some are searching for modern equivalents for their kids, with a few puzzle/logic mobile games suggested, but few true “quest” successors.
- There’s debate over Sierra’s actual game quality: early innovation and charm vs. later recognition that many designs were hostile, unfair, and eclipsed by competitors.
Acquisition, Fraud, and Responsibility
- Core story: Sierra was acquired via stock by a parent company later exposed for large-scale accounting fraud, which destroyed shareholder value.
- One camp emphasizes that unprecedented fraud was the main cause; another argues greed, over-ambition, and poor due diligence (accepting stock, not demanding financial transparency) were decisive.
- Disagreement over whether the CEO’s fiduciary duty effectively forced acceptance of a high-premium offer vs. whether caution (e.g., insisting on cash) was a viable alternative.
- Several commenters see this as a cautionary tale about selling out a beloved, niche-strength company in pursuit of “more, more, more.”
Employee Stock, Compensation, and Risk
- Many employees lost large portions of their net worth; some who borrowed against options ended up bankrupt and deeply in debt.
- This fuels skepticism about stock-based compensation: some refuse such offers; others accept but value them at zero when evaluating total comp.
- A few point out that diversification practices were weaker then and that the company was already public, so equity risk wasn’t new.
Auditors, Governance & Financial Crime
- Discussion of how major auditors often appear in large frauds, with perceptions ranging from incompetence to complicity.
- Some detail how regulations like Sarbanes-Oxley changed control testing but may be unevenly implemented.
- Debates over punishment for financial crimes: proposals range from jail time linearly tied to fraud dollars to valuing financial harm in “lives” using government statistical life valuations; others argue money and life are categorically different and sentences must consider context, not just amounts.
Market Dynamics, Greed & Company Fate
- Several see Sierra’s fate as emblematic of markets rewarding short-term extraction over long-term product and brand quality.
- Others argue Sierra was already struggling with technology shifts, design stagnation, and location-driven hiring challenges; selling was seen as the only realistic path.
- Broader theme: going public and creating an “exit” aligns leadership with financial markets and can make preserving a boutique, fan-loved company structurally difficult.