This is The Stepback, a weekly newsletter breaking down one essential story from the tech world. For more on the bleak state of the video game industry, follow Andrew Webster. The Stepback arrives in our subscribers' inboxes on Sunday at 8AM ET. Opt in for The Stepback here.
How it started
Microsoft closed out Summer Game Fest with a bang. The company's annual June showcase was packed with crowd-pleasers: Halo, Gears of War, Fable, a translucent Xbox, and even some pleasant surprises like new Persona and Crazy Taxi games. It was the kind of event that harkened back to the boisterous days of E3, when the industry was in a healthier place an …
