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Success of Crowdfunding Puts Pressure on Entrepreneurs
- nancyhua 14y agoCrowdfunding as it stands is a form of charity or maybe status because there's no guarantee anyone will even attempt to follow through with anything. That's why I only use it for charity or art. Are they attempting to change this in any way?
- 001sky 14y agoA study by Ethan Mollick, a professor of management at the Wharton School of the University of Pennsylvania, found that 75 percent of design- and technology-related projects on Kickstarter, most of which involve physical products, failed to meet their promised deadlines. --Key point: Crowd funding is a loose form of contract.
- JoeAltmaier 14y agoIs meeting the deadline the same as defaulting? I was unaware a timeline in a Kickstarter promotion was part of any contract - its more like salesmanship.
- 001sky 14y agoSome of kickstarter campaigns are strucured as actual (or implied) pre-orders.[1] Any such quid-pro-quo is a loose form of contract. With the emphasis on loose. [1] "Cash in return for the promise of a future reward," per the article with examples also referenced therin.