> Kickstarter backers should expect VC-level failure rates as a lower bound. True, but it's even worse than that. VC funded companies sometimes have an upside.

> Kickstarter backers should expect VC-level failure rates as a lower bound. True, but it's even worse than that. VC funded companies sometimes have an upside. E.g. Oculus Rift got over $2 billion from Facebook. The Kickstarter "backers" received exactly zero percent of that upside.