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How a Crowdfunding Campaign Disappeared with $700K

The Verge did a piece exploring the (seemingly obvious) pitfalls of crowdfunding, including one project that made off with nearly a million dollars. The Federal Trade Commission has not stepped in to punish any abusive campaigns. This is why I get a little itchy and uncomfortable posting any crowdfunding stuff here. Hell, I'm not even comfortable with pre-orders; excepting apps on iTunes since those can be refunded. Caveat Creditores.

Video Description:

Crowdfunding gives gadget makers the power to launch their own companies, but sometimes their dream dies not long after launch. In this episode of In the Making, reporter Ashley Carman looks at how crowdfunding platforms Kickstarter and Indiegogo are changing their business to prevent creators from never shipping their product.

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Reader Comments 1

My feeling with this is similar to my approach with eBay. Never put up more money than you are willing to lose. That pretty much sets a decent limit for my spending. So far, all the Kickstarters I've backed have come through, but I think the most I ever put up was around $30.
April 17, 2019  | person_outline Graham

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