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I think the term 'bubble' is sensationalist. The author is trying to say that crowdfunding is not a panacea and can do things the normal paradigm wouldn't supp
by veyron 14y ago
I think the term 'bubble' is sensationalist. The author is trying to say that crowdfunding is not a panacea and can do things the normal paradigm wouldn't support, but at one point people may do something stupid and back projects that shouldn't be backed. There's no reason to believe that the community can't select for the best projects (I'd say there's a bubble when every garbage project gets funded)
- gojomo 14y agoThere is going to be a bubble: it is a natural, necessary stage that comes with enthusiastically exploring a new space. (If there isn't a bubble, some people aren't trying hard enough.) People are going to be ripped off. People are going to lose a lot of money in ventures that aren't rip-offs, but still just fail, because that's the nature of new things. (Because the expectations will be so high, and the investor understanding of the downside risk so low, lots of these people will loudly complain and allege wrongdoing where there is none.) Some bad actors will enrich themselves. And yet, crowdfunding will still be a rich new source of innovation and wealth, even with the growing/learning pains.