Esports have evolved from small tournaments to filling stadiums, with Team Liquid's founder Victor sharing insights on the industry's growth and challenges. The industry faced setbacks due to the pandemic, declining viewership, and financial instability, highlighting the need for better storytelling, cost-cutting, and sustainable revenue models.

Esports has rapidly evolved from small basement tournaments to filling up some of the largest stadiums worldwide, attracting billions of dollars and millions of viewers. Despite recent concerns about its decline, the story of Victor, the founder of Team Liquid, highlights the enduring passion and growth of Esports over the years.

Esports faced challenges in the 2000s due to decentralized scenes, lack of cultural acceptance, and limited organization. Companies like Major League Gaming attempted to bring structure, but the absence of a centralized broadcasting platform hindered growth. Despite initial struggles, the failures of this era paved the way for the rise of Competitive Gaming in the 2010s.

The chapter discusses the evolution of Esports, highlighting the transition from Starcraft 2 to League of Legends as key milestones in the growth of competitive gaming. It emphasizes the early investment in organized competition by Riot for League of Legends and the establishment of teams like Team Liquid, CLG, Cloud9, and others.

The profitability of Esports organizations is a major concern as many teams are struggling financially due to overvaluation and reliance on venture capital funding. Unlike traditional sports, Esports teams primarily generate revenue from sponsorships and merchandise, leading to a non-sustainable business model.

Esports faces challenges in player salaries and broadcasting monetization due to the evolving market dynamics. The industry needs to innovate new monetization models to ensure sustainability and growth.