[FAIL] Don't Get Burned By Crowdfailures

I have participated in a couple of fundraising efforts on Kickstarter but I tend to fund personal projects rather than gadgets. A photographer taking photos of shelter animals to help them get homes was putting together a book. Another made a video of dogs riding in motorcycle side cars (I know it sounds stupid but there is hardly anything more joyful looking than a dog in goggles taking a trip with his or her person). In other words, I needed some connection with the item, and something that makes me feel good. I don't have much money so I contribute at a very modest level, and I don't have the expectation I'm going to be part of the next great thing. Electronic junk comes and goes so fast that it is impossible for an ignoramus like me to know what has value and what doesn't, so I don't bother.

I am suspicious that the Bug-A-Salt is truly worth the price or another salty clean-up job. Does this thing really work around the house or best used outdoors?

I really needed a good "wake up" laugh this morning. Thanks, Bob, for the Bug-A-Salt item. I'm still laughing.

The "Airing" project, though, does interest me a tad as I have sleep apnea. (I use an ASV machine instead of a CPAP.) My mask & hose combo seldom bother me; so I doubt if I'd put forth any $ for investment and/or purchase.

Still: your advice is "right on" about being careful with one's financial "investments."

The very popular "Simon's Cat" animations on YouTube had a crowdfunding campaign on Indiegogo about a year ago. This was to raise enough money to allow Simon Tofield (the creator of Simon's Cat) to make a much longer animation in colour for his project "Off to the Vet". The Simon's Cat animations are quite brilliant, and I have been enjoying them free for years, so I contributed to this campaign partly because I wanted to show my appreciation for the hours of free entertainment Simon had already provided. I was not disappointed. For my contribution I got private access to the video when it was finished, and also a beautiful "Off to the Vet" book of drawings used in the project, signed by Simon.

I also contributed to another Indiegogo campaign, initiated by a musician friend and neighbour, to raise enough money to record a CD. Again, I was not disappointed, and received a great CD as my investor "perk".

So, for me, in both cases I would consider this money well spent, but I did have a more personal connection with both campaigns before I decided to contribute. I wouldn't contribute to some of the ones that sound a little too good to be true.

These are also great ways to assist small charities and to help fund or match fund people's mission trips. There although you are not expecting a product or a return on investment, it is still wise to try to vet the fundraiser to make sure their particular charitable purpose both matches your goals and that they are legitimate.

The good thing about this funding is that it usually goes 100% or very close to 100% for the charitable purpose while most charitable organizations only utilize a relatively small proportion of the funds they receive for charitable purposes with most funds going to more fundraising and to "overhead" (i.e. peoples salaries).

I probably tend to be overly skeptical, but after a quick read, too many of the proposals look suspiciously like a flush for investors to keep the principals flush.

Lost connection when I hit the button. Hope this doesn't double-post.

I can understand people wanting to contribute to someone in need for personal reasons, such as lack of funds for a medical situation or a funeral, but I can't understand why anyone would want to some stranger's business plan for some pie-in-the-sky product, that we have, up to this point, managed to survive without its existence.

What crowdfunding recipients seem to be saying is they are too lazy to do the grunt work to go through legal, proper and established channels to bring their concepts to fruition. The contributors have essentially no concept of the real intent or the honesty of the one with the open palm, other than a slick dog-and-pony presentation, designed to wow the crowd. There is no stock ownership involved nor legal promises of dividends to the contributors. People are better off waiting until there is a initial stock offering, with a published legal prospectus, in order to make a sound business decision, before parting with their hard-earned cash.

Don't blame the little companies or individuals with big ideas and no prior mass market manufacturing experience not to be wrong in their estimation of "actual" costs.

A website is an informative and relatively cheap way to reach millions of potential buyers whom are happy to throw money at the conceptual masterpiece.

Taking orders is easy delivery is a bitch.
Big or small (Company)

Tesla Model 3 anyone?