Coffee Talk #462: What’s the Frequency, Pachter?
Welcome to Coffee Talk! Let’s start off the day by discussing whatever is on your (nerd chic) mind. Every morning I’ll kick off a discussion and I’m counting on you to participate in it. If you’re not feelin’ my topic, feel free to start a chat with your fellow readers and see where it takes you. Whether you’re talking about videogames, Verve’s Costa Rica Don Mayo, which NBA team made the best deadline trade, or throwing rocks at people waiting in line for the new iPad, Coffee Talk is the place to do it.
The other day an old colleague posted a very angry tweet about Wedbush Securities analyst Michael Pachter. I was actually surprised by his anger. My friend has worked in videogames for quite some time, with staff positions at G4 and IGN. It’s one thing for people that read videogame-enthusiast publications to get upset about Pachter, but it surprises me when people inside the business give him heat about some of the things he says.
Before I explain all that, keep in mind that I like Michael a lot. He’s cool and fun and smart. He might be the highest-paid person I know that can talk to (a scrub like) me about videogames, WWE, and gaming United Airlines frequent flyer program. I completely admit my bias and will gladly defend Pachter’s honor.
Having said that, I totally understand why readers and viewers get mad at him. Some of his predictions are flat-out wrong. Some of the things he says are outlandish. He likes to talk to the press…a lot. Sometimes I get the impression that he enjoys stirring the pot just to see the reactions he’ll get. He’s the most quoted financial analyst that covers games. If you’re judging him based off of his quotes, then yeah, I can see why you’d have heat with him.
However, if you thought about his actual job was and what he actually gets paid to do then you wouldn’t take the Michael Pachter “persona” so seriously. Just take a peak at the Wedbush corporate site. I don’t see a section that says, “We specialize in riling up fanboys by making bold and sometimes completely wrong predictions to the press.” He’s an analyst! He crunches numbers, sifts through data, writes investor advice, and makes decisions that affect a lot of money. (Yes, I totally simplified his job for the sake of brevity.)
Personally, I find it amusing that so many readers and viewers “hate” Pachter. I’m sure he finds it funny too. When someone with my colleague’s experience has an issue with him, it’s surprising. Perhaps I shouldn’t be surprised. Maybe a lot of people inside and outside of the business think that quoted Pachter and working Pachter are the same guy. *shrug*
I’m sure you’ve read a lot of Michael Pachter quotes over the years. I know that a few of you follow him on Twitter. Out of curiosity, what do you think of him and the things he says?