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Is this going to inspire more companies / startups to go the crowdfunding route? (I think so). How many companies are going to now cite: "App.net style" of pre-
by acoyfellow 14y ago
Is this going to inspire more companies / startups to go the crowdfunding route? (I think so). How many companies are going to now cite: "App.net style" of pre-launch efforts? Is this a good or a bad thing?
This is a whole new era, either way. Congrats to the App.net team!
- andrewcross 14y agoI think we'll definitely see a lot of attempts, but I don't know if many will have much success. It's very similar to Louis C.K.'s online video. While his video was successful, it only worked because he'd already established a name for himself. Other, lesser known, comedians will have a hard time replicating that because they don't have the brand already. If first-time entrepreneurs try and use crowd-funding, I just don't see catching unless the product is truly awesome (think Pebble).
- icebraining 14y agoThat's true for every type of funding, though.
- andrewcross 14y agoBut the big difference is the traditional investment model requires fewer backers. While by no means is raising investment an easy process, first time entrepreneurs have a better chance since they have to sell fewer people on it.