John Carmack@ID_AA_Carmack
My reply to someone considering starting a video game company:
The distribution of possible rewards for starting a video game company are generally not very good today. The market is well served, and gaining a foothold requires strong execution on both business and product issues, along with a substantial amount of luck. Plan to burn through seven figures with a not-great chance of making it back.
If you do go for it, some bits of advice:
Identify your customers clearly before you start. Not just a broad community, but specific people, and imagine them as you make decisions.
Initially, build the smallest, most concise game you can imagine anyone paying for. It will still take much longer than you expect.
Once something exists, hill-climb the value. Hopefully you will have some elements that clearly bring joy to people, which you can magnify. There will inevitably be tons of things that people find confusing, frustrating, or just boring that you will need to fix.