Xbox has made some bold bets in recent years including launching a new subscription service with Game Pass and acquiring ZeniMax for $7.5 billion, just to name a few. Xbox fans can expect these types of investments to continue in the future, according to Xbox boss Phil Spencer.

He said on Major Nelson's podcast that part of his job--at least until he names a successor--is to make big bold bets on the future of gaming because that's what gamers demand.

"What are the things that five, 10 years from now, we're gonna be so happy that we started today so that when we get to that point, when we continue the ambition we have in gaming and the entertainment space, that we look and say, 'Boy are we really glad we started those things,'" Spencer said. "And it's fun for the team to come together and start to really challenge the boundaries. Horizon 1 is kind of today. Horizon 2 is 2-3 years out. And then Horizon 3 is this kind of 3, 5, 10 years out and making those bold bets."

"You always have to be doing that. We've got to be constantly pushing the boundaries of what we're doing, because gamers will always demand more," he added. "They want better innovation, they want tech innovation, storytelling innovation, and we've got to be out there investing in that."

Also in the interview, Spencer said he's proud of the portfolio of games that Microsoft has assembled through starting new studios and acquiring others, but there is more work to do. "There are areas in the portfolio I want us to push," he teased. Spencer went on to say that Xbox as a company is currently known best for console games, but he wants to invest more in the PC space.

In other news, November 15 was the 20th anniversary of Xbox and Microsoft celebrated by launching Halo Infinite's multiplayer beta early.