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That is not a principled way to run a business. If they couldn’t build this thing with the funds raised on Kickstarter, then they shouldn’t have been o
by blantonl 11y ago
That is not a principled way to run a business. If they couldn’t build this thing with the funds raised on Kickstarter, then they shouldn’t have been on Kickstarter.
Sounds like they tried to take something to market with an investment, and returned those investments because they couldn't make it work.
Just because they didn't go to a series C and waste a ton more money doesn't make them any less "principled"
- braythwayt 11y agoExcept the “something” they couldn’t make work is not the something they promised to the backers making an investment. That’s the problem here: The Kickstarter gives the appearance of a simple proposition: Give us $X and we build $Y. If you always needed $X+W money, and always planned to build product Y+Z, and Z sinks the whole thing, then you have misled the original backers. I agree that if they couldn’t make the original Matchstick--the one they promised to their backers--work, they should return what they can. But if the thing that doesn’t work is a business that is a lot more complicated than the thing they put on the Kickstarter, they shouldn’t have been on Kickstarter to begin with.