Michael Pachter, an analyst for Wedbush Industries, has become a big name in the gaming industry. By now, many of you will need no introduction to his caveats, and whether or not you agree with his opinions about gaming, his business and financial predictions are often spot-on.

PlayStation Now, expected to launch later this year, is a cloud-based game streaming service for Sony's PlayStation devices which will grant PlayStation owners access to a huge library of older games—it is most assuredly one of Sony's biggest efforts to change the gaming climate with the PlayStation brand.

Unfortunately for PlayStation Now, Michael Pachter isn't looking too peachy about it.

"PlayStation Now is a joke. There is no publisher that is going to license content that's less than two-years old because they would be concerned that they can't sell as many copies if they make it available for subscription or rental. This has no prayer of working. None." — Michael Pachter

Do you think Sony's cloud-based gaming is a good idea, or is the internet not robust enough to deliver that kind of service yet?

Source: Game Informer