The 2009 memo was released by the Providence news site GoLocalProv .
WBZ NewsRadio 1030′s Anthony Silva With Stephen Beale
Download: pod-silva-confidential-memo-uncovered.mp3 //
Reporter Stephen Beale found the memo which was submitted to the state. He tells me 38 Studios officials didn’t try to minimize the risk, and included the warning that investors should only sink money into the venture if they could afford to lose it all. The memo goes on to call the video game industry unpredictable, because you never know if a game is going to catch on.
The memo raises serious questions over whether the State of Rhode Island should have invested in 38 Studios, which is now in bankruptcy "
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