https://wccftech.com/pachter-loot-boxes-consumers-are-stupid/ > Michael Pachter, perhaps the most outspoken and well-known analyst in the games industry, appeared in a ‘fireside chat’ at a recent event held by the Video Game Bar Association in Los Angeles. GamesBeat posted the lengthy transcript yesterday and this time, Pachter talked about everything from eSports and VR (which he considers overhyped, at least for the time being) to loot boxes. On this latter topic, he provided a very blunt explanation for the very existence of loot boxes in the first place. > Why are there loot boxes? Because consumers are stupid and they’ll spend thousands of dollars trying to get that hard-to-get thing. If you put it up for sale for $500 they won’t buy it. I mean, I actually think the Chinese solution – posting the odds of getting each item – is the right way to do it. This thing has a 1-in-250 chance in the loot box, or you can buy it for $250. Then people realize, I have to buy 250 loot boxes for $600 to get it? Then they’ll just buy it.