Steam Rises from Xbox’s Grave

Twenty years ago, Microsoft dominated PC gaming. They invented DirectX, controlled the platform, and owned the future. Then they walked away—chasing consoles and subscriptions. Now, Valve is building what Xbox abandoned: the Steam Machine. This is the story of how the company that created modern PC gaming lost it all, and how Valve picked up the pieces.

00:00 Building an Empire
02:44 Flirting with Consoles
04:18 Launching Xbox
05:54 Xbox 360
08:05 Microsoft can never go home again
10:37 Xbox’s Identity Crisis
12:48 Valve steps in
15:56 Is Xbox truly open?